IRENA launches new tool to help develop renewable energy

International Renewable Energy Agency, IRENA, has launched a new tool, 'The Project Navigator', a comprehensive platform to facilitate the effective development of renewable energy projects worldwide.

Available online, The Project Navigator tool provides project developers with the knowledge, tools, case studies and best practices needed to support the successful completion of their projects, according to IRENA.

It says that many promising renewable energy project ideas are not implemented due to a lack of knowledge or expertise on how to move them forward. "Successful projects are characterised by robust technology data, strong project proposals, and the inclusion of financing instruments and information for investment analysis. The Project Navigator aims to increase the percentage of successful renewable energy project proposals worldwide," it added.

"This new tool makes it easier for project developers to initiate, develop, fund and complete renewable energy projects around the globe," said IRENA Director-General Adnan Z. Amin. "It helps them overcome the barriers inherent in starting projects and, in doing so, facilitates the deployment of more renewable energy worldwide."

The Project Navigator walks developers through the project development process from initial idea to successful implementation, helping to create a comprehensive and bankable project proposal. The financial navigator section also allows users to search for funding by renewable energy type and region, drawing from a database of funds available for project financing.

"This is a perfect tool to help developers who have a strong idea for a renewable energy project, but limited knowledge of project finance," said Roland Roesch, IRENA Senior Programme Officer and Project Navigator lead. "Finance is one of the major hurdles that must be cleared to create a successful project. The Navigator's rich database of technical information can help developers overcome this hurdle."

Entrepreneurs, urban planners and researchers will benefit from the gathered information and resources on Project Navigator.
Source: WAM