PRESS RELEASE | June 6th, 2024
Brussels, Belgium RELP and The Nature Conservancy (TNC) signed a Memorandum of Understanding to integrate Climate, Conservation, and Community goals into clean energy procurement programmes.
The MoU’s purpose reflects a comprehensive approach to leveraging the expertise and resources of both organisations to enhance the positive impact of clean energy procurement programmes in emerging economies, with a focus on sustainability, community engagement and benefits, and environmental conservation.
“We’re excited to be collaborating with RELP to advance the clean energy transition in developing economies in ways that support goals for Climate, Conservation, and Communities. Embedding 3C goals into clean energy procurement programs will enhance the positive impact and build lasting public support for the transition,” said Bruce McKenney, TNC’s Global Director for Renewable Energy.
The joint work between both organisations will play a crucial role in the development, management, and success of RELP’s iTrust financing mechanism, ensuring its effectiveness in providing financial backstops to renewable energy projects and advancing energy transitions in developing countries.
"Our goal is to leverage collaboration between RELP and TNC to integrate Climate, Conservation, and Community goals into clean energy programs. Embracing this 3C framework advances sustainable energy transitions and supports environmental stewardship, local communities, and effective climate action," said Liz Bronder, RELP’s iTrust Manager.
For media inquiries or further information, please contact: Sophie Kloster sophie.kloster@relp.ngo
About RELP
RELP is an impact-driven and independent non-profit organisation. We focus on accelerating the deployment of renewable generation in developing economies by directly supporting governments in the design and implementation of stable regulatory frameworks, competitive procurement processes, and new financial and credit enhancement tools, including program-based guarantees. We focus on implementation to facilitate bankability, foster competition, and boost the local and foreign investments needed to materialise project installations, local economic and social development, and the reduction of GHG emissions.
About iTrust Enabling Clean Power
RELP is developing iTrust as a financial mechanism to provide programme-based guarantees to renewable energy projects awarded through public auctions. The mechanism aims to de-risk clean energy projects in developing countries, thereby advancing a more sustainable clean energy transition and reducing market risks.
iTrust consists of two main components:
- 1. Revolving Energy Payment Guarantee: This component covers ongoing obligations by the off-taker under relevant offtake agreements and is provided by iTrust.
- 2. Partial Early Termination Payment Guarantee: This component backstops the obligation of the relevant off-taker or governmental entity to make payments if the offtake agreement is terminated due to pre-defined triggering events. This piece is coordinated by iTrust.
iTrust’s primary goal is to mobilise private capital in developing countries by offering guarantees that mitigate risks associated with renewable energy projects. By providing financial backstops and guarantees, iTrust aims to make clean energy projects more attractive to investors, ultimately reducing the cost of electricity for consumers and accelerating the transition to sustainable energy sources.
About The Nature Conservancy
The Nature Conservancy is a global conservation organization dedicated to conserving the lands and waters on which all life depends. Guided by science, we create innovative, on-the-ground solutions to our world’s toughest challenges so that nature and people can thrive together. We are tackling climate change, conserving lands, waters and oceans at an unprecedented scale, providing food and water sustainably and helping make cities more sustainable. Working in 76 countries and territories—37 by direct conservation impact and 39 through partners—we use a collaborative approach that engages local communities, governments, the private sector, and other partners. To learn more, visit www.nature.org or follow @nature_press on Twitter.
