Strengthening institutional capacities and coordination mechanisms for accelerating and scaling up the mobilization of climate finance in Palestine

READINESSPAL
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Project summary

The READINESSPAL project (Strengthening institutional capacities and coordination mechanisms for accelerating and scaling up the mobilisation of climate finance) in Palestine aims to build institutional capacity and coordination mechanisms to accelerate the mobilisation of climate finance. It supports the Palestinian Energy and Natural Resources Authority (PENRA) and the Environmental Quality Authority (EQA) in the transition towards locally produced renewable energy and improved energy efficiency, thereby reducing dependence on energy imports.

The project focuses on setting the groundwork for the Green Climate Fund (GCF), which will have two main objectives: (1) energy independence through local renewable energy production and (2) reducing energy needs through improved energy efficiency.

Code PSE24002
Start date 1 January 2025
End date 1 January 2028
Stage In preparation
Donor Green Climate Fund
Sector 23110 Energy policy and administrative management
Budget 1 682 243.00 €

General objective

Support the Palestinian Energy and Natural Resources Authority (PENRA) and the Environment Quality Authority (EQA) to strengthen its energy resilience, through both a reduction of energy import dependency by shifting to locally produced renewable energy and by improving energy efficiency in Palestine. The aim is to apply for the GCF readiness program to fund actions to reach this objective.

Specific objective

The readiness program will focus on setting the groundwork for the full GCF fund, which will have the following objectives:
- Energy independence through local renewable energy generation:
· Development of a national Renewable Energy Techno-Economic Environment
· Building of local technical knowledge and ensuring nation wide stakeholder acceptance of Renewable Energy
· Implementation of the updated national Renewable Energy Strategy and support mechanisms for private sector investments.
- Reduced energy needs through improved energy efficiency:
· Develop an improved enabling national legislative environment on energy efficiency
· Building of local policy, legislative and technical knowledge on energy efficiency
· Physical implementation of different energy efficiency actions ranging from the development of new standards, to measures in the private sector, as well as upgrades in energy performance in public buildings

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