Large-scale Renewable Energy Development Project (Phase 1 = $25M; Phase 2 = $45M)

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The Large-Scale Renewable Energy Development GEF Project aims to assist Mexico in developing initial experience in commercially-based grid-connected renewable energy applications by supporting construction of an approximately 101 MW IPP wind farm, while building institutional capacity to value, acquire, and manage such resources on a replicable basis. The global objective is to reduce greenhouse gas emissions by addressing and reducing the barriers to development of grid-connected renewable energy technologies and markets in Mexico. There are three project components: 1) A Financial Mechanism to stimulate organizational learning and cost reduction that will provide energy production incentives on an output-based aid basis; 2) Technical Assistance activities to address analytical and policy barriers, and provide business development assistance to stimulate and facilitate project investment in both independent power producers and renewable energy self-supply markets; and 3) Project Management support for both of the above substantive components, and to fulfill oversight, monitoring and evaluation, and reporting responsibilities.