Sustainable Renewables Risk Mitigation Initiative (SRMI) Facility (Phase 2 Resilience focus) [SRMI-Resilience]

The SRMI-Resilience program aims to deploy 2.16 GW of renewable energy and reduce GHG emissions by 55.01 million tons of CO2eq across Ethiopia, Guinea Bissau, Indonesia, Kyrgyzstan, Mongolia, Seychelles, Somalia, Tajikistan, and Tunisia. The initiative combines technical assistance, public investments in grid resilience, and risk mitigation instruments to unlock an estimated USD 1.8 billion in private investment. Key adaptation goals include providing 3.2 million people with electricity to power cooling systems during heat waves and upgrading grid infrastructure to withstand climate hazards like floods and cyclones.

• The program aims to directly support the development of 2.16 GW of renewable energy, consisting of 1.76 GW of solar PV, 300 MW of onshore wind, and 100 MW of geothermal power.
• The initiative is expected to reduce greenhouse gas emissions by approximately 55.01 million metric tons of CO2 over 25 years by displacing fossil fuels and coal.
• The program intends to unlock approximately USD 1.8 billion in private investments for the construction of the 2,160 MW of renewable energy capacity.
• The facility targets increasing the climate resilience of 3.2 million people by providing access to low-emission electricity, specifically to enable the use of cooling solutions during extreme heat waves.
• Approximately USD 1 billion in public investments will be used to make grid infrastructure resilient to climate shocks, which is expected to indirectly benefit over 22.5 million people.
• The program utilizes a four-component structure: Technical Assistance, Public Investments, Risk Mitigation Instruments, and Project Management.
• Specific risk mitigation instruments include a foreign exchange (FOREX) liquidity support mechanism for Ethiopia and a demand risk instrument for mini-grids in Somalia.
• The program addresses critical barriers to private investment, including development risks (grid, land, resource, legal, procurement, and integrity) and operational risks (off-taker credit, power sector, market, climate, macroeconomic, and political).
• The total requested GCF funding is USD 160 million, comprising USD 43 million in grants, USD 69 million in loans, USD 13 million in guarantees, and USD 35 million in reimbursable grants.
• The program will implement the Resilience Rating System (RRS) methodology to evaluate the resilience of project designs and outcomes.

APA

Green Climate Fund (2023). Sustainable Renewables Risk Mitigation Initiative (SRMI) Facility (Phase 2 Resilience focus) [SRMI-Resilience]. https://www.greenclimate.fund/sites/default/files/document/fp204-world-bank-multiple-countries.pdf

Chicago

Green Climate Fund. Sustainable Renewables Risk Mitigation Initiative (SRMI) Facility (Phase 2 Resilience focus) [SRMI-Resilience]. 2023. https://www.greenclimate.fund/sites/default/files/document/fp204-world-bank-multiple-countries.pdf.

Wikipedia

{{cite report |author=Green Climate Fund |title=Sustainable Renewables Risk Mitigation Initiative (SRMI) Facility (Phase 2 Resilience focus) [SRMI-Resilience] |date=11 April 2023 |url=https://www.greenclimate.fund/sites/default/files/document/fp204-world-bank-multiple-countries.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{greenclimatefund2023sustainable, author = {{Green Climate Fund}}, title = {{Sustainable Renewables Risk Mitigation Initiative (SRMI) Facility (Phase 2 Resilience focus) [SRMI-Resilience]}}, institution = {Green Climate Fund}, year = {2023}, month = apr, url = {https://www.greenclimate.fund/sites/default/files/document/fp204-world-bank-multiple-countries.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }