The Climate Investment Funds’ governing board approved investment plans for Costa Rica and Fiji to transform their energy systems and increase clean power utilization. Costa Rica, with high electricity access and renewable energy generation, relies heavily on fossil fuels for transportation and industry. The investment will modernize the electricity system, install electric vehicle charging stations, and replace industrial combustion equipment. Fiji aims for 100% renewable energy generation by 2036 and net zero GHG emissions by 2050. The investment plan includes upgrading transmission lines, developing solar plants, providing technical assistance, and electrifying rural communities. CIF Renewable Energy Integration (CIF REI) supports grid flexibility, readiness for renewables, innovative business models, and power system improvement. Over 60 developing countries have applied for CIF REI funding.
Resource: https://esgnews.com/cif-invests-75m-to-accelerate-renewable-energy-in-costa-rica-and-fiji/