IOREC Underway: leaders gather to unlock investment and accelerate off-grid deployment

The fourth edition of the International Off-Grid Renewable Energy Conference and Exhibition in Singapore is underway, gathering more than 300 high-level policy, intergovernmental, private sector and non-governmental participants from around the world. Delegates are sharing ideas and insights on the future of standalone and mini-grid renewable energy solutions and are identifying ways to scale-up their adoption.

Among the central themes in the discussion is the challenge of connecting financing and investment with business owners and electricity consumers in developing countries – many of whom lack the resources and experience necessary to successfully secure finance. With standalone and mini-grid renewable energy solutions fueling new business opportunities and supporting improved livelihoods for both sellers and consumers, participants have heard various perspectives on the challenges and opportunities of a decentralised energy system.

The Director-General of the International Renewable Energy Agency, Mr. Adnan Z. Amin, outlined in his opening speech that the business case for off-grid renewables had never been stronger – a fact widely recognised by the private sector, from start-up entrepreneurs to large-scale international firms. He stressed that what will bring power to the un-electrified is not development aid, but viable and sustainable commercial activity. A point the off-grid business community widely agreed on as the conference continued to share experiences and showcase good practices.

Better livelihoods and improved health through energy access delivered by off-grid renewable energy featured throughout a day in which delegates explored best practices in off-grid policies and regulations, as well as innovations in technology, financing, and delivery models. The fundamental issue of connecting capital with private sector actors on the ground in developing countries to increase the penetration and underlying benefits of access to sustainable power remained central.

IOREC takes place alongside other high-level discussions during Singapore International Energy Week including the Association of South East Asian Nations Energy (ASEAN) Ministers Meeting, chaired by Singapore and is co-located with the Asia Clean Energy Summit.

The two-day event will be followed by the Renewable Energy Solutions for Healthcare Facilities conference, organised by IRENA on 2 November.

Original source: IRENA
Published on 1 November 2018