Renewable Energy Market Transformation (REMT)

Project Summary

Promote grid-based renewable power generation both for utility sales by power developers and for self-generation and consumption by sugar and paper industries. Promote commercial solar water heating to displace electric water heating. Assist government to create policy and institutional frameworks for renewable power generation through technical assistance, followed by investments from carbon and private financing sources. Some investments will take place based on World Bank Prototype Carbon Fund (PCF) financing (piloting a promising model in which GEF establishes favorable conditions, and PCF/carbon funds finance the actual investments). Development objectives to promote local economic development. Concept fits within three strategic priorities: power-sector policy, financing availability (from private and carbon financing), and market transformation (for solar water heaters).

Project Details

GEF Project ID
Project Type
Full-size Project
South Africa
Focal Areas
Funding Source
GEF Trust Fund
Implementing Agencies
The World Bank
Executing Agencies
Dept. of Minerals and Energy (DME)
GEF Period:
GEF - 3
Approval Fiscal Year:


Project Preparation Grant Amount
GEF Project Grant
6,000,000 USD
Co-financing Total
11,300,000 USD
GEF Agency Fees
540,000 USD
Total Cost 17,300,000.00 USD

Project Timeline

Received by GEF
16 May 2003
Concept Approved
01 Feb 2005
Project Approved for Implementation
07 Jun 2007
Project closed
30 Sep 2011