16 April 2014, Dubai, United Arab Emirates
The MENA-OECD Task Force on Energy and Infrastructure was established in 2010 in response to a mandate from the MENA-OECD Ministerial Conference to promote green investment in the region. Building on the OECD’s Green Growth Strategy, the Task Force focuses on formulating policy recommendations to promote private investment in renewable energy in the Middle East and North Africa (MENA) region. It produces opinion and working papers, and engages in a dialogue with policy makers through the working groups of the MENA-OECD Investment Programme, in particular the Working Group on Investment Policies and Promotion.
Investment in renewable energy has been rapidly increasing in MENA in recent years to respond to the rising energy consumption, largely due to a fast-growing population and rapid urbanisation. Latest data shows that investment in renewables grew by 83% from 2009 and 2012 and is expected to reach 3% of the region's GDP by 2040. In addition to high energy demand, local job creation through renewable energy technology deployment is the main driver for accelerating investments.
Access to finance is one of the biggest challenges to investment in renewable energy in the MENA region. Renewable energy sources are still not competitive with fossil-fuels sources as they involve high technology costs, significant up-front payments and risks, and low returns on investment.
The 2013 OECD report, Renewable Energies in the Middle East and North Africa: Policies to Support Private Investment, identified support measures, including financial incentives, to minimise those risks and stimulate private investment in renewable energy in the MENA region. Building on the recommendations of the report, and in light of the growing need to increase the supply of green finance, the MENA-OECD Task Force on Energy and Infrastructure seeks to identify adequate tools and mechanisms to finance large and small-scale renewable energy projects in the MENA region.
The 12th meeting of the MENA-OECD Task Force on Energy and Infrastructure will focus on financing renewable energy projects in the MENA region and will cover the following topics:
- Opportunities and challenges of financing large-scale projects; perspective and changes in the business models
- The role of public and private institutions in strengthening access to finance for SMEs in renewable energy
The purpose of this meeting is to discuss potential themes for the MENA-OECD Task Force on Energy and Infrastructure (TFEI) during technical sessions on financing issues and agree on the actual work plan for 2014/2015.
Draft agenda (English)
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