Empowering Small Island Developing States: Scaling Up Renewable Energy for Resilient Economic Growth | Sep 25, 2024
RECORDING | PRESENTATION | REPORT
During this ESMAP webinar, we launched SRMI’s latest report Empowering Small Island Developing States: Scaling Up Renewable Energy for Resilient Economic Growth.
During this session the authors discussed the key findings of the report, including the importance of financial and technological innovations, concessional finance, community engagement, and the strengthening of local capacities.
Speakers from Small Island Developing States (SIDS), Independent Power Producers (IPPs) and Multilateral Development Banks (MDBs) explored actionable recommendations for a sustainable energy future in SIDS, addressing the power sector challenges, the role of the private sector, the importance of capacity building and local expertise, and the role of climate and concessional finance in closing the gap for renewable energy investments.
SIDS, a diverse group of 39 countries, face unique power sector challenges due to geographical limitations, remoteness, limited resources, and climate change vulnerability. These issues lead to energy insecurity and high electricity prices. Despite these hurdles, SIDS have abundant renewable energy resources like solar, wind, biomass, hydropower, geothermal, and marine energy, offering opportunities for cleaner, cheaper, and more resilient electricity.
