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Session IV Miguel Angel Mendez

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Session IV Miguel Angel Mendez

  1. 1. Result Based Finance As enabler for renewable energy sector transformation in developing countries The Vietnam Case Miguel Angel Mendez, Seoul, Korea, Nov 07th, 2014
  2. 2. Experts Market-Based Solutions Localization Impact At Scale Output based
  3. 3. SNV OVERVIEW 3 722,000 Innovative Market-Based Solutions to Reduce Poverty
  4. 4. The Vietnamese national biogas programme • The need • Cooperation SNV and MARD since 2003 • Funded by DGIS, En Dev, Carbon Credits • The Objective Ø To develop a commercially viable domestic biogas sector. To improve livelihood and life quality of rural farmer in Vietnam through exploiting the market and non-market benefits of domestic biogas plants. • The Program Ø The Biogas Plant (KT1 model) Ø Investment subsidy Ø Quality control Ø Training Ø Research and Development Title 4
  5. 5. 5 The Biogas Plant 5
  6. 6. Results • Investment subsidy in place (56.5 USD) per biogas plant • 1668 biogas mason enterprises installing bio digesters • Quality control system in place. 1064 biogas technicians • 159 trainers to assist training activities • Sector development (PR). Vietnamese Biogas Association • Research and Development • 3 international awards 6
  7. 7. Impact Title 7 142,000 700,000
  8. 8. Impact…Cont.. Title 8 656,040 45%
  9. 9. Benefits • Improved manure management • Time savings (gender impact) • Reduced fuel expenditures • Strongly reduced smoke in kitchen • Higher crop yield + price • Reduced chemical fertilizer and pesticides expenditures • Improved relationship with neighbours (smell + gas) 9
  10. 10. Challenges • Financial dependence • Insufficient commitment private sector • Lack of financing opportunities • Limited capacity of informal biogas enterprises 10
  11. 11. Status of the Biogas Sector in Vietnam • Current Market Situation asks for new and innovative approaches – the next steps towards a fully commercial market! Title Saturation Maturity Growth Introduction Development Market Growth ‘90s ‘03 ‘13 Time Number of digesters constructed 2017 2016 2015 2014 2013 A new Financing Mechanism ‘Business as Usual’ No Support Timeline
  12. 12. Result Based Finance Move from up-front subsidies to conditional payments for pre-agreed and verifiable results; shifting risks from donors to market actors, flexible implementation Basic characteristics/principles • no upfront payments, only ex-post after verification of delivery: no delivery, no payment; risk entirely at private sector • provides temporary incentive to overcome market failures, trigger market growth: only nascent markets with growth potential and no other constraints • private sector chooses own business models; but safeguards set for quality, sustainability 12
  13. 13. RBF in the biogas programme in Vietnam • The objective is to create a market based biogas sector by transferring responsibilities of gov’t and programme to enterprises • Increasing ownership and capacity of biogas enterprises • RBF incentive rewards enterprises for increased risk taking: extra investment without a guaranteed return. • Enterprises start paying for training and QC services • Financial incentive (1.2 m VND around 56.5 USD) for the enterprise after delivering a high quality digester and providing end user training. Therefore no more end user investment subsidy 13
  14. 14. Results • Pilot in 6 provinces • Implementation since may 2014 • 57 enterprises upgraded • 1196 biogas plants built • Positive reactions from all stakeholders • Increased capacity of enterprises • Increased marketing efforts of enterprises 14 Constructed since May 2014 RBF enterprises Hanoi 450 19 Thai Nguyen 272 19 Hai Duong 343 13 Vinh Phuc 128 5 Ha Giang 3 1 Quang Binh 0 0 Total 1196 57
  15. 15. Lessons learned from Vietnam • Availability of qualified enterprises may be more important than availability of subsidy • Effective method to increase risk taking behaviour • It is not easy to implement such a large change in a project that has existed so long • RBF can serve as exit strategy 15
  16. 16. Other SNV RBF interventions Kenya: Clean cook stove market acceleration project • Incentives for MFI’s to provide loans for ‘higher tier’ cook stoves: 100.000 Tanzania: Rural market development for solar pico-pv • Improve market access to and use of quality pre electrification pico-solar devices. • RBF incentive for suppliers of solar- lanterns, phone chargers and small multi room lighting kits. • 115.000 poor rural and off grid households 16
  17. 17. Vietnam Business Challenge Fund- Results 402$Exec.$ Summaries$ 38$Short6listed$ 37$Full$Bus.$ Plans$ 25$Bus.$ Ideas$for$ Contract$ NegoDaDon$ 23$ Contracts$ signed$ DO Efficiencies Bottom-up: 4% Top-down: 18% Proposed Investment Combined: USD 530mm Req. VBCF: USD 153mm 32,861 Portfolio composition LCG# 33.3% AG# Leveraging PS Co-financing: 8,3 1-3 24,6 ~3X VBCF Co-investment Private investment Total Portfolio investment composition $US million 27% 73% Projected social returns Deal origination: 2 rounds / 2 approaches 37% 26% 27% Projected financial 42% 38% 32% 28% 11% returns 33% 22% 34% 18% 24% 32% 38% 29% 12% 41% 20% 21% 39% 24% 13% 27% A055 A075 A094 A114 A119 A151 B056 B066 A196 A217 A230 B242 B251 B262 C252 C278 C320 C323 A359 A398 B357 C241 C352 C393 41.67% IBS# 25.0% RE-Based energy solutions: - LED lighting solutions - CFL bulbs for agric. - Recycled plastic bio-digester - Gasifier cook stove - Biomass cook stove VfM >90% (E&Y)
  18. 18. Thank you! Miguel Angel Mendez Country Director SNV Vietnam mmendez@snvworld.org www.snvworld.org/en/countries/vietnam

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