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Detail of GEF Project #404

GEF Project ID404
Funding SourceGEF Trust Fund
Project NameEnergy Efficiency
RegionAsia and the Pacific
Focal AreaClimate Change
Operational Program5
Approval Date1998-01-01
CEO Endorsement Date1998-05-04
GEF Agency Approval Date2000-06-27
Project Completion Date2006-03-31
Project StatusProject Closure
GEF AgencyWorld Bank
Executing AgencyIREDA
DescriptionThe project, which is a component of Renewable Energy II, will help overcome the barriers to private investment in energy efficiency by catalyzing, supporting and funding private energy efficiency service companies (ESCOs) and directly financing end-user energy efficiency investments. The GEF grant will: (I) develop IREDA’s capacity to identify, appraise and finance ESCOs and end-user defined energy efficiency investments; (ii) test the performance of different energy efficiency projects and ESCO financing modalities; and (iii) disseminate information on the benefits and risks of energy efficiency investments. Associated World Bank and local counterpart financing will directly fund energy efficiency investments that will avoid over 750,000 tonnes of carbon emissions and catalyze investments that could avoid over 6 million tonnes of emissions.
Implementation StatusThe TA component to help IREDA develop capacity to deliver energy efficiency services is satisfactory. So far, 10 projects representing $27.3 in total investment in EE is under implementation and is satisfactory. But in the last year no new EE project loans have been signed, although IREDA has been active in developing its EE pipeline. Loan sanctions for 5 project totaling $10.05 million has recently been approved.
GEF Project Grant
5,000,000 USD
GEF Grant
5,000,000 USD
Cofinancing Total
32,000,000 USD
Project Cost
37,000,000 USD
GEF Project (CEO Endo.)
5,000,000 USD
Cofinancing Total (CEO Endo.)
32,000,000 USD
Project Cost (CEO Endo.)
37,000,000 USD
Project Documents

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