Via a USD 4.5 million investment in Catalyst MENA Clean Energy Fund, OeEB finances renewable energy projects in the MENA region.
Catalyst aims to mobilize the region's vast renewable energy potential in order to reduce the countries' dependence on energy imports. The fund will primarily invest in solar energy in the MENA region, with a primary focus on Jordan.
The fund thereby addresses some of the main challenges of the region marked by the Arab Spring and Syria conflict: The fund's investments not only improve the energy supply for the growing population but also contribute to securing and creating jobs and increasing tax revenues.
By working closely with local project developers and companies along the value chain the fund also helps build up know-how needed for the future development of the renewable energy sector.