Most Northern African, Eastern Euopean and Central Asian countries want to diversify power generation by scaling-up RE. Successful power sector transformation depends on private sector engagement as it cannot be delivered through public finance alone. In many cases, countries are just beginning to move towards competitive procurement processes such as auctions. These countries require support to adjust the legal and policy frame and to successfully implement first auctions.

The primary goal of RE auctions is to meet renewable energy objectives in the most cost-effective way. Accordingly, the aim of the Programme is to scale up renewable energy investments in partner countries. The support provided through the Programme is tailored to each country’s specific context and needs, considering the stage of electricity market development and reforms. The programme seeks to address immediate needs in Ukraine, North Macedonia, Egypt and Kyrgyzstan. Depending on further developments in the countries, sub-sequent engagements are likely in Albania and Serbia and uncertain in Morocco and Tunisia. The programme seeks to mobilize 2 billion USD private sector financing through the auctions.

GHG emission saved (tons CO2eq emissions)

Increased capacity of RE (MW) developed through auctions within the target region

Increased deployment of battery storage and grid integration technologies

Increased MW capacity of RE developed outside of support schemes

Improved regulatory and policy framework for investment in RE systems

Enhanced capacity of policy makers and institutions to design, implement and manage RE support schemes

RE systems capacity under the Ukraine risk mitigation mechanism is developed

Expected results:  

# Countries supported in the programme

# Auctions Designed and succesfully closed

Storage incentive schemes, including storage-inclusive auctions, designed and successfully closed

Development of tools and frameworks facilitating development of RE system capacity outtside of support schemes

Technical assistance delivered to authorities

Dedicated capacity building activities delivered to authorities

Operationalisation of the Ukraine Renewable Energy Risk Mitigation Mechanism

Counterparty structure for the Ukraine Renewable Energy Risk Mitigation Mechanism designed

Results from previous phases:  

Overall, as of the end of 2024, EBRD had active engagements in 16 countries under the Renewable Energy Market Accelerator (to which SECO is one of the main contributors) and had directly supported over 7,500 MW of new RE capacity through auctions. The EBRD-SECO Renewable Energy Auction Programme has achieved following results:

Albania: Successfully auctioned 224 MW onshore wind energy and 300 MW solar PV. Furthermore, an enabling environment for the growth of renewables in the country is established with a strong regional demonstration.

Serbia: SECO’s support has led to projects with a total capacity of over 1,200 MW being selected through two auction rounds.

Egypt: SECO is supporting the authorities in selecting the first wave of private-to-private projects. Four projects (of 100 MW each) have been selected in the preliminary evaluation.