More than 2 billion people have no direct access to modern energy for cooking and heating. In addition to firewood, batteries, candles, petroleum and the like are used which often creates a substantial financial burden. In many cases, renewable energy is already the less expensive alternative. It offers people new opportunities to use their low incomes in a better way. It also gives small companies new production possibilities and sources of income.
Development is not possible without energy
Access to energy plays a key role in the development of poor countries and their populations. It is the basic foundation for economic and social development. OeEB persistently finances projects that help developing countries and emerging markets gain access to their own sources of energy, use energy efficiently, and thereby reduce dependence on oil imports. When it comes to this, we focus primarily on renewable energy.
Renewable energy is preferred
Energy is the foundation for many parameters of positive development - jobs, health, protection of the environment, supply security, resource conservation, economic development, and less dependence on the world market. Access to energy also plays a geopolitical role. Therefore, the ability to use regional sources of energy can also help keep the peace.
Local energy projects
Energy projects are a main focus of OeEB and currently make up roughly a third of our portfolio. In doing so, we emphasise renewable energy and energy sources in the target country: geothermal, water, solar and wind power are areas in which we are active or would like to develop.
A discussion with the members of the OeEB executive board, Andrea Hagmann and Michael Wancata: "Energy is the foundation for development."