To mitigate the risks of solar and wind deployment, SRMI offers development and climate financing for:
- Upstream and Downstream Technical Assistance (via ESMAP) to support countries (i) develop evidence-based variable renewable energy (VRE) targets based on sound generation/transmission planning, (ii) design and implement sustainable medium-term VRE programs including legal support, domestic lending and local socio-economic development, and (iii) have robust procurement processes which can be under the World Bank Group (WBG) Scaling Solar when client countries are interested;
- Critical Public Sector Investments (World Bank financing blended with climate finance) for critical investments such as (i) grid upgrades and battery storage to unlock VRE, (ii) solar/wind park public infrastructures, and (iii) electrification, i.e. off-grid green mini-grids and solar home systems (SHS); and
- Risk Mitigation Instruments (WBG’s guarantees and political risk insurance, and climate finance instruments) to propose tailored risk mitigation instruments to private investors to cover the residual risks for grid-connected projects, green mini-grids and SHS.