In 2010, Climate Investment Funds launched its Scaling up Renewable Energy Program in Low-income Countries (SREP), an innovative pilot program to increase energy supply and enhance energy access through renewable energy.
Today, CIF is proud to publish an independent evaluation it commissioned to build an evidence base that supports accountability and learning on access to renewable energy in low-income countries. The report entitled “Evaluation of Scaling up Renewable Energy Program in Low-income Countries” takes stock of SREP’s challenges and achievements to date in terms of program design and delivery as well as the progress made toward results from its investments.
SREP occupies an important niche in the global climate finance landscape, as the evaluation confirms. It provides value by pioneering renewable energy and energy access investments in challenging country contexts and bringing substantial concessional finance to countries that have struggled to attract it, particularly fragile and conflict-affected states.
When it launched as a pilot program just over a decade ago, the program had approximately US$300 million in pledges and contributions for six pilot countries. Since then, the program has more than doubled its funding to US$780 million and expanded to 27 eligible countries.
SREP was an ambitious endeavor when it launched just over a decade ago and the lessons from the evaluation are invaluable to understanding how concessional finance can support the scaling of renewable energy access in low-income countries. The program was designed to demonstrate the economic, social, and environmental viability of low-carbon development pathways in the energy sector. The independent evaluation, therefore, provides objective insights to better respond to opportunities and challenges in large-scale energy access projects. The findings also provide lessons for new CIF programs and other climate finance facilities.
Key Findings
The evaluation traces the accomplishments, innovations, and breakthroughs of SREP as well as the challenges and complications that often arise in new, untested approaches to climate finance. This is reflected in several findings the report sets out:
The report also makes several recommendations that will shape the remainder of the SREP program and inform the design and operation of future CIF programs. The recommendations will also enhance monitoring, evaluation, and learning (MEL) processes in existing and future projects within the CIF.
The evaluation report serves as a valuable resource to a range of other actors involved in similar programs from recipient countries, MDBs, and implementing agencies, to donor countries, delivery agencies, and project managers. The insights can guide how they design, implement, and review innovative climate programs in complex contexts.
The independent evaluation of SREP demonstrates why CIF is a pioneer and trusted partner in delivering climate finance. It also demonstrates a central aspect of CIF’s mandate: to be a learning laboratory for best practice that improves climate program delivery.
Note: The independent evaluation was conducted by ICF, an international research and evaluation consultancy.
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