Brazil’s energy-related emissions have increased 130 percent from 1990-2012, against a Nationally Determined Contribution (NDC) of a 10 percent reduction by 2030. With extensive urbanization (over 85 percent of Brazil’s population lives in urban areas), previous work financed by the Energy Sector Management Assistance Program (ESMAP) and others1 ,led to the identification two sectors where transformative change could be made: municipal street lighting and energy efficiency (EE) in urban industrial areas. In order to overcome financing barriers and catalyze a significant shift in the trajectory of energy-related emissions, the Financial Instruments for Brazil Energy Efficient Cities (FinBRAZEEC) project, aims to unlock long term private financing for urban energy efficiency projects in Brazil by reducing the credit risk of LED street lighting (SL) and industrial efficiency projects (IEE) and enhancing their technical quality. The project will create an EE facility hosted at a local public bank, CAIXA Econômica Federal (CEF) and will support CEF in raising private financing for the efficient SL and off-balance sheet financing for IEE by incentivizing local Brazilian lenders to start lending on a “project risk” basis vs the currently dominant “corporate finance”.
For project details, contact:
Silvia Martínez Romero, Senior Energy Specialist
I 5-506, 1818 H St. NW, Washington, DC 20433, USA
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