Sustainable finance
Scaling Up Renewable Energy Program (SREP)
Definition
The Scaling Up Renewable Energy Program in Low Income Countries is a targeted programme of the Climate Investment Funds, established in 2009, providing concessional finance to demonstrate the economic, social and environmental viability of renewable energy in low-income countries. It funded country investment plans spanning geothermal, solar, hydro, wind and biomass, alongside enabling-environment reforms, in pilot countries concentrated in Africa and Asia.
References
Supports definition and framing.
Overview
How it is used
The programme's experience feeds CIF evaluation and learning on concessional finance for energy access and transition; its country programmes continue under MDB management.
Why it matters
SREP was a leading test of how public concessional finance can open renewable markets where commercial capital would not yet go.