The Hemispheric Sustainable Energy Fund (HSEF) launches with a $1.25 million pool that regional countries would add to so as to create a multi million dollar "family of funds." Wind is part of the program along with solar, biomass and energy efficiency.
Projects would probably be small scale, says the DOE's Jayne Brady, as the fund will focus on encouraging local ownership and community based development. In the generation sector this will be village scale. Furthermore, larger projects tend to belong to companies that are well funded and therefore have no need for the financing, she adds.
The fund will finance preparation of feasibility studies, market analysis, financing mechanisms and project appraisals for sustainable energy, renewables and clean energy technologies. "This fund is an important tool to help develop and evaluate clean energy projects," said former US Energy Secretary Bill Richardson.