Renewable energy innovations, resilient enterprises, and investments

The International Centre for Integrated Mountain Development (ICIMOD) is organizing a focused consultation workshop on three knowledge products prepared by its Renewable Energy and Energy Efficiency Capability for the Hindu Kush Himalaya (REEECH) Initiative. Around 15–18 representatives of the renewable energy sector (public and private), banks/financial institutions, development agencies, impact investors, renewable energy enterprise development entities, and other related private sector organizations from across the Hindu Kush Himalaya (HKH) region will participate in the workshop.

Objectives

• Engage with key stakeholders on three knowledge products: two applied research projects (financial landscape of renewable energy in Nepal and framework to assess the return on investment of climate-resilient enterprises) and an energy dashboard application for Nepal.
• Discuss and receive inputs on strengthening these products and how they can be practically used by various stakeholders.
• Revisit and refine the products so that they can be disseminated to a wider targeted audience and then replicated in ICIMOD’s Regional Member Countries.

Knowledge products for discussion

An important component for REEECH includes innovations, entrepreneurship, and investments in renewable energy. Under this component, REEECH commissioned two applied research projects and developed an energy tracker application for Nepal.

Financial landscape of the renewable energy sector in Nepal: This comprehensive applied research reviewed the status of the renewable energy sector in Nepal from 2010 to 2020. This document compiles information on the renewable energy sector with inputs from the various key actors and available data sources.

Framework to assess the return on investment in climate-resilient enterprises: This applied research presents a standard model to assess financial, social, environmental, and economic returns on climate-resilient micro, small, and medium enterprises. The return on investment framework takes into consideration environmental, social, and governance factors to leverage financial investment and improve transparency and accountability of finance. The development of such a framework for the HKH is a new initiative.

Energy dashboard for Nepal: This integrated web-based application consolidates information such as primary energy supply, final consumption, access to clean fuels, renewable energy shares, energy intensity, electricity consumption, installed capacity, energy generation, and energy trade. The data presented are collated from secondary sources like UNSD and ESMAP. This database tries to capture mountain-specific energy data for the HKH region that has been aggregated at the state or provincial level. In 2021, REEECH added the spatial dataset in the system, which provides information on climate, socioeconomic, and energy data. The model-based data can support decision makers to make informed decision in providing improved access to modern, affordable, and reliable energy services.

Background

Nearly 370 million people in the HKH region do not have access to electricity, and about 1.8 billion people rely on traditional, polluting biomass fuels for energy. To address challenges related to energy use and availability in the mountain context, ICIMOD collaborated with the United Nations Industrial Development Organization (UNIDO), with financial support from the Austrian Development Agency (ADA), to establish its REEECH Initiative as a regional centre of excellence on sustainable energy for all. The REEECH Initiative aims to improve access to renewable energy and energy-efficient solutions to build climate-resilient mountain livelihoods in the HKH. It contributes to improved access to appropriate, modern, affordable, and reliable energy services to meet the energy security needs of mountain population in the HKH, as well as safeguard essential mountain ecosystem services. The initiative also supports policy implementation, capacity development, knowledge management and awareness, investment, entrepreneurship, and innovations to improve the demand for and supply of renewable energy and energy efficiency services in the HKH.

Agenda

Host: Naina Shakya, Partnership and Private Sector Specialist, ICIMOD