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New Support For Green Energy In Middle East And North Africa

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New Support For Green Energy In Middle East And North Africa

The first projects of a new fund supported by the European Investment Bank (EIB) – the Catalyst MENA Clean Energy Fund (Catalyst) – are now taking off in the build up to COP22 in Marrakesh with the issue of how to get the private sector on board for climate financing high on the agenda.

This fund will make it much easier for companies and governments in the region to invest in and benefit from renewable energy and energy efficiency projects. The Catalyst fund is the newest investment of the Global Energy Efficiency and Renewable Energy Fund (GEEREF), which is backed by the EIB Group. With EUR 20.7 billion invested in climate action projects in 2015, the EIB is the world’s largest multilateral climate financier and the bank of the European Union.

Initially, the Catalyst fund is investing in Jordan, with the aim of expanding its activities to Tunisia, Morocco and Egypt in the future. In Jordan, it is providing an opportunity for the private sector to make use of a recently introduced “wheeling law”. This means that a company which knows they will need a certain amount of power annually, in one or several locations, can build a renewable energy power plant to cover such needs wherever it makes most sense and in a completely different location from where the company’s premises are situated. Under this regulation, the company only pays for the transmission costs of the energy across the grid.

With equity financing from the Catalyst fund and their partners, construction is due to start in 2017 on up to 5 such solar plants for the telecommunications company Orange. These solar plants, with an expected capacity of up to 34MW, will cover the vast majority of the company’s electricity needs in Jordan.

The new fund, which currently has more than USD 47 million to invest, is also backed by FMO – the Dutch development bank, Finnfund – the Finnish Fund for Industrial Cooperation, and DEG – a subsidiary of KfW, the German development finance institution.

Speaking from the COP22 in Marrakesh, Jonathan Taylor, EIB Vice-President with responsibility for energy, environment and climate lending, said, “Our commitment to supporting the low carbon economy through providing climate finance is clear. This is an innovative approach that has been able to benefit from the enlightened regulatory framework introduced recently in Jordan. It’s good for the planet and good for the economy and business too.

Projects like this are very much part of the strategic approach of the EU bank and a key part of supporting resilience and sustainability in its neighbourhood.

He added, “This initiative is also about strengthening the resilience of a region, hit hard by the current refugee crisis and also particularly vulnerable to the effects of climate change, which could in itself add to other drivers of migration. Projects like this are very much part of the strategic approach of the EU bank and a key part of supporting resilience and sustainability in its neighbourhood.”

Mónica Arévalo, Senior Investment Manager of the GEEREF said, “Together with our partners, we decided to invest in the Catalyst MENA Clean Energy Fund to help bridge the financing gap for private sector-led renewable energy and energy efficiency projects in the MENA region. We believe through this fund we will be able to bring strong value added to the target countries in clean energy generation and greenhouse gas emission savings, coupled with supporting best environmental and social practices.”

Energy

Is Wood Burning Sustainable For Your Home?

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sustainable wood burning ideas

Wood is a classic heat source, whether we think about people gathered around a campfire or wood stoves in old cabins, but is it a sustainable source of heat in modern society? The answer is an ambivalent one. In certain settings, wood heat is an ideal solution, but for the majority of homes, it isn’t especially suitable. So what’s the tipping point?

Wood heat is ideal for small homes on large properties, for individuals who can gather their own wood, and who have modern wood burning ovens. A green approach to wood heat is one of biofuel on the smallest of scales.

Is Biofuel Green?

One of the reasons that wood heat is a source of so much divide in the eco-friendly community is that it’s a renewable resource and renewable has become synonymous with green. What wood heat isn’t, though, is clean or healthy. It lets off a significant amount of carbon and particulates, and trees certainly don’t grow as quickly as it’s consumed for heat.

Of course, wood is a much less harmful source of heat than coal, but for scientists interested in developing green energy sources, it makes more sense to focus on solar and wind power. Why, then, would they invest in improved wood burning technology?

Homegrown Technology

Solar and wind technology are good large-scale energy solutions, but when it comes to small-space heating, wood has its own advantages. First, wood heat is in keeping with the DIY spirit of homesteaders and tiny house enthusiasts. These individuals are more likely to be driven to gather their own wood and live in small spaces that can be effectively heated as such.

Wood heat is also very effective on an individual scale because it requires very little infrastructure. Modern wood stoves made of steel rather than cast iron are built to EPA specifications, and the only additional necessary tools include a quality axe, somewhere to store the wood, and an appropriate covering to keep it dry. And all the wood can come from your own land.

Wood heat is also ideal for people living off the grid or in cold areas prone to frequent power outages, as it’s constantly reliable. Even if the power goes out, you know that you’ll be able to turn up the heat. That’s important if you live somewhere like Maine where the winters can get exceedingly cold. People have even successfully heated a 40’x34’ home with a single stove.

Benefits Of Biomass

The ultimate question regarding wood heat is whether any energy source that’s dangerous on the large scale is acceptable on a smaller one. For now, the best answer is that with a growing population and limited progress towards “pure” green energy, wood should remain a viable option, specifically because it’s used on a limited scale. Biomass heat is even included in the UK’s Renewable Heat Initiative and minor modifications can make it even more sustainable.

Wood stoves, when embraced in conjunction with pellet stoves, geothermal heating, and masonry heaters, all more efficient forms of sustainable heat, should be part of a modern energy strategy. Ultimately, we’re headed in the direction of diversified energy – all of it cleaner – and wood has a place in the big picture, serving small homes and off-the-grid structures, while solar, wind, and other large-scale initiatives fuel our cities.

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Energy

7 Benefits You Should Consider Giving Your Energy Employees

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As an energy startup, you’re always looking to offer the most competitive packages to entice top-tier talent. This can be tough, especially when trying to put something together that’s both affordable but also has perks that employees are after.

After all, this is an incredibly competitive field and one that’s constantly doing what it can to stay ahead. However, that’s why I’m bringing you a few helpful benefits that could be what bolsters you ahead of your competition. Check them out below:

Financial Advising

One benefit commonly overlooked by companies is offering your employees financial advising services, which could help them tremendously in planning for their long-term goals with your firm. This includes anything from budgeting and savings plans to recommendations for credit repair services and investments. Try to take a look at if your energy company could bring on an extra person or two specifically for this role, as it will pay off tremendously regarding retention and employee happiness.

Life Insurance

While often included in a lot of health benefits packages, offering your employees life insurance could be an excellent addition to your current perks. Although seldom used, life insurance is a small sign that shows you care about the life of their family beyond just office hours. Additionally, at such a low cost, this is a pretty simple aspect to add to your packages. Try contacting some brokers or insurance agents to see if you can find a policy that’s right for your firm.

Dedicated Time To Enjoy Their Hobbies

Although something seen more often in startups in Silicon Valley, having dedicated office time for employees to enjoy their passions is something that has shown great results. Whether it be learning the piano or taking on building a video game, having your team spend some time on the things they truly enjoy can translate to increased productivity. Why? Because giving them the ability to better themselves, they’ll in turn bring that to their work as well.

The Ability To Work Remotely

It’s no secret that a lot of employers despise the idea of letting their employees work remotely. However, it’s actually proven to hold some amazing benefits. According to Global Workplace Analytics, 95% of employers that allow their employees to telework reported an increased rate of retention, saving on both turnover and sick days. Depending on the needs of each individual role, this can be a strategy to implement either whenever your team wants or on assigned days. Either way, this is one perk almost everyone will love.

Health Insurance

Even though it’s mandated for companies with over 50 employees, offering health insurance regardless is arguably a benefit well received across the board. In fact, as noted in research compiled by KFF, 28.6% of employers with less than 50 people still offered health care. Why is that the case? Because it shows you care about their well-being, and know that a healthy employee is one that doesn’t have to worry about astronomical medical bills.

Unlimited Time Off

This is a perk that almost no employer offers but should be regarded as something to consider. According to The Washington Post, only 1-2% of companies offer unlimited vacation, which it’s easy to see why. A true “unlimited vacation” program could be a firm’s worse nightmare, with employees skipping out every other week to enjoy themselves. However, with the right model in place that rewards hard work with days off, your employees will absolutely adore this policy.

A Full Pantry

Finally, having a pantry full of food can be one perk that’s not only relatively inexpensive but also adds to the value of the workplace. As noted by USA Today, when surveying employees who had snacks versus those who didn’t, 67% of those who did reported they were “very happy” with their work life. You’d be surprised at how much of a difference this could make, especially when considering the price point. Consider adding a kitchen to your office if you haven’t already, and always keep the snacks and drinks everyone wants fully stocked. Doing so will increase morale tremendously.

Final Thoughts

Compiling a great package for your energy company is going to take some time in looking at what you can afford versus what’s the most you can offer. While it might mean cutting back in other areas, having a workforce that feels like you genuinely want to take care of them can take you far. And with so many different benefits to include in your energy company’s package, which one is your favorite? Comment with your answers below!

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