GGGI-ISA Trust Fund for 1 Million Solar Irrigation Pumping Systems
Location
Period
Jan 2020 - Jan 2025
Funding (USD)
0
Project Code
IN25
Theme
Solar Energy
Status
Completed
Project Summary
Solar Irrigation Pumping Systems (SIPS) has the potential to address the challenges of Water-Food-Energy nexus by offering a sustainable solution to the key issues of ground and surface water depletion, energy security concerns, climate change challenges, provide localized sustainable and resilient solutions as well as mobilize employment opportunities in communities. However, despite multiple interventions and efforts by different development organizations in various countries, it’s still evident and reported that deployment of SIPS has many institutional roadblocks and implementation challenges. Absence of dedicated policy framework, limited infrastructural and organizational setup, lack of technical standards and quality control, affordable/innovative business model and access to finance, limited awareness and knowledge, and concerns regarding groundwater exploitation are some of the challenges associated with the large-scale deployment of SIPS, among others.
GGGI and ISA have collaborated with a target to deploy 1 million Solar Irrigation Pumping Systems (SIPS) across thirteen countries while addressing the associated challenges and creating an enabling ecosystem. GGGI and ISA have synergies across the SIPS value chain and the collaboration will result in designing and delivering tailor made solutions to member countries. To increase the effectiveness of this initiative, GGGI & ISA will establish a multi-donor trust fund “GGGI-ISA Trust Fund for Solar Pump Initiative” (GITF-SIPS)”. GITF-SIPS through pooling of resources i) increases strategic coherence, ii) reduces the fragmentation of aid financing, ii) facilitates the mitigation of shared risks, increases the visibility and transparency for all development partners, iv) reduces the high transactional costs, thereby improving the value-for-money proposition for donors.
Objective
To accelerate sustainble agriculture practices by deploying one million Solar Irrigation Pumping Systems (SIPS) for increased agriculture productivity through access to sustainable energy and promoting water conservation in the Africa, Asia, and the Asia Pacific region.
- Developing institutional capacities for creating an enabling policy and regulatory environmentfor promoting climate-resilient, gender equitable, socially inclusive, and surface/groundwater-responsive solar irrigation practices.
- Creating bankable business models, financial products, and mobilization of finance at-scalefrom public, private, and Institutional investors for deployment of solar irrigation systems at-scale.
- Supporting sustainable enterprises for solar irrigationthrough viability gap funding and first loss guarantee mechanisms.
- Institutionalizing the learnings, evidence, financial and knowledge products for replication of solar irrigation practices in other countries.
Project Outcome
The GGGI–ISA Green Investment and Transformation Fund for Solar Investment and Partnership Support (GITF-SIPS) is expected to deliver significant climate and development impacts through its technical assistance interventions and investment mobilization efforts. Based on GGGI’s strategic outcome measurement methodology, the Fund is projected to contribute to the avoidance of approximately 2.86 MtCO2e emissions annually, mobilize nearly USD 5 billion in green financing commitments, support the creation of around 50,000 green jobs, and improve access to clean and affordable energy for approximately 1 million people.
