A public consultation workshop organized by the Department of Energy and the Ministry of Climate Change was held at Owen Hall on the 24th of January, 2018 to discuss the draft National Green Energy Fund (NGEF) Bill,
In his opening remarks, the Director of Energy Department (DoE), Mr Antony Garae acknowledged the presence of workshop participants and commented Global Green Growth Institute (GGGI) for funding the development of the of the draft legislation. He also invited the workshop participants’ to actively participate in in the workshop with meaningful contributions that should assist the drafter to finalise the document.
Participants of the workshop included senior Government Officials, Provincial Secretary Generals, a representative from the financial sector, electricity Operators, Energy Retailers, representatives from the Legal and Regulatory Offices, and the civil society.
The underlying concept for NGEF establishment is to contribute towards achievement of energy access and sustainability targets in the Updated National Energy Road Map 2016-2030 (NERM), the Vanuatu National Sustainable Plan (The Peoples Plan) and the Nationally Determined Contribution targets, the Government of Vanuatu approved the establishment of the National Green Energy Fund (NGEF) in April 2016.
The NGEF will serve as a tool for the Government of Vanuatu to mobilize pool of financial resources required to contribute towards providing all households with access to electricity and meet the sustainable energy target towards 2030.
The Fund’s main objective is to extend electricity access using renewable energy sources, and facilitate more efficient end-use of energy in Vanuatu
The NGEF is envisaged to initially support:
♣ Electricity access investments, especially in rural areas (primarily through solar systems, and some grid connections)
♣ Initiatives to encourage energy efficiency in electricity end-use and biomass (and potentially transport, once a sufficient analytical base is available).
This focus is consistent with the Government’s priorities under the NERM and responds to identified financial barriers holding back progress against NERM targets.
Households, businesses and public institutions would all be eligible for support. As the Government’s intention is to develop a financial mechanism that will be durable, the design would also remain open to supporting additional technology and investment types, and targeting different beneficiaries, as and when circumstances change.