[{"bbox": [86, 152, 360, 178], "category": "Section-header", "text": "3.5 The Intervention Logic"}, {"bbox": [96, 194, 1160, 486], "category": "Text", "text": "The underlying intervention logic for this Action is based on the fact that, in the current scenario, despite an increasing political commitment toward a green energy system: i) the national substantial GDP growth is leading to increased energy demand, addressed with power generation mainly by fossil fuels, and subsequent ecological degradation ; ii) the share of traditional energy sources (including imported ones) remains high, while RE share targets are not met and there is no structured action plan to this end; iii) the current policy/regulatory aspects related to RE need to be enforced needs implementation support: particularly on data availability for energy audit targets, standard and labelling, awareness raising, capacity among distribution utilities, quality, inclusiveness and diversification of offer of energy services; iv) transmission/distribution losses and grid instability remain a critical issue, with social, economic and environmental consequences; v) the high potential and interest from the private sector side remains untapped; v) The, so far unexplored, deployment of energy storage in the power system for grid stability/reliability and RE integration can be expanded;"}, {"bbox": [96, 497, 1160, 711], "category": "Text", "text": "A green energy transition implies a shift of perspective on the entire power system. The use of renewable energy sources for on and off-grid power generation, electrification of vehicles, cooling and industrial production, the use of different/innovative technologies have broad implications on many aspects of life, including the environmental footprint and pollution reduction, the society, the economy and governance in line with the UN Sustainable Development Goals. This also affects costs and tariffs, trade in terms of energy import changes. Hence, this fundamental transformation needs the backing of the institutional decision makers, but also of most of the population. Energy transition requires demanding political frameworks across sectors. This major effort needs strong political leaders that push the matter forward, also through targeted policy and regulatory reforms."}, {"bbox": [96, 722, 1160, 802], "category": "Text", "text": "To this end, fundamental steps are the shift towards more energy conscious policy makers and people, but also efficient and harmonized regulatory and policy framework, including the removal of investment barriers and generally a more conducive and inclusive investment ecosystem."}, {"bbox": [96, 814, 1160, 949], "category": "Text", "text": "Therefore, this Action aims at achieving these goals, in partnership and synergy with the relevant development partners under the TEI umbrella. The policy/regulatory framework gaps and RE investments' needs will be addressed through studies, capacity building, technical assistance and financial instruments. Investment climate enhancement and market aspects will be integrated to create a renewable and sustainable energy system with empowerment of consumers. Green energy services will be strengthened in their quality, spectrum and inclusiveness."}, {"bbox": [96, 959, 1160, 1146], "category": "Text", "text": "In parallel, an increased renewable energy generation will be supported through targeted investment leverage and capacity building using a blending operation with IFIs and, wherever possible, EFSD+ guarantees. This will be done with an International Financial Institution that has relevant experience in the energy sector and country/region through blending and/or sovereign loans. The IFI should be eligible for EFSD+ funding. The preferred option identified is EIB (EFSD+ Dedicated Investment Window 1). Should this option turn out to be not feasible, others will be considered. Would other IFI express interest to participate in the programme (AFD, KFW, etc.) additional funding could be leveraged at a later stage. This will be coordinated through a TEI GET approach."}, {"bbox": [1027, 1681, 1144, 1706], "category": "Page-footer", "text": "Page 16 of 23"}]