News

Call for ideas to drive billions in geothermal investment in developing countries

Lahedong Geothermal Power Plant in Indonesia (source: ADB, Courtesy of CPI)
Francisco Rojas 27 Oct 2015

The Global Innovation Lab for Climate Finance aims to funnel funds to renewable and promote the investment in climate change initiatives.

In a recent statement from the Climate Policy Initiative (CPI), said entity is promoting a ‘call for ideas’ for The Global Innovation Lab for Climate Finance, an initiative that aims to drive billions in investment in developing countries. They are keen to source ideas from our readers on innovative approaches to mobilizing investment in geothermal, particularly financial instruments that address drilling and resource risks. They could, for instance, ensure early financing or long-term stability of revenues.

People submitting ideas benefit from the analytical support of The Lab and the expertise of its high-profile members from the public and private sectors in the developed and developing countries. Lab members commit to help move successful ideas to the pilot stage either through technical or financial support. While this can take many forms, to give you an indication Climate Investor One, an instrument that successfully made it through the first cycle of The Lab, has attracted $450 million in interest and should drive billions more in investment.

The deadline for submitting ideas is November 6th. You can submit ideas here: http://climatefinancelab.org/idea-submission-second-cycle/

And learn more about the process and the progress of previous winning instruments here: http://climatefinancelab.org/

Source: CPI