SEMED Private Renewable Energy Framework

approved

Sub-projects signed under this framework The Project will assist the four countries of the SEMED (Morocco, Tunisia, Egypt & Jordan) in breaking down the hurdles hampering the development of a private renewable energy sector. Each sub-project under SPREF will have its own transition impact analysis and will be rated separately. Transition impact may be achieved as follows: SPREF will launch its policy dialogue activities with a gap analysis of the current legal and regulatory frameworks for private renewable energy projects in the four SEMED countries. This study will guide the advice EBRD will provide to governments and other stakeholders and will provide direction for further targeted policy dialogue work in each country. In order to bring about the expansion of private sector involvement in renewables envisioned by SPREF, improvement to the institutions, laws and policies will be important. Sub-project clients are expected to include a wide range of international and local energy companies and other developers. The EBRD will provide up to USD 250 million senior secured debt financing and could also consider equity and quasi-equity investments on a case-by-case basis. Approximately USD 900 million. The Framework itself will not be subject to environmental and social categorisation and each sub-project, including potentially both Category A & B projects, will be reviewed individually and be subject to normal due diligence and disclosure requirements. Technical cooperation (TC) funds will be sought for policy dialogue and project preparation. The policy dialogue work will commence with a gap analysis of the legal and regulatory frameworks in each country and the improvements needed for success of private sector renewable energy projects. The initial study will be followed by TCs targeted to the needs of each country. The project preparation TCs will finance the technical, environmental and legal due diligence for the preparation of the sub-projects.