Identifier
Created
Classification
Origin
08WARSAW1171
2008-10-06 11:51:00
UNCLASSIFIED
Embassy Warsaw
Cable title:
OPIC SUPPORT FOR GREEN EMERGY MARKETS FUND - DUE
how-toVZCZCXRO9230 RR RUEHAG RUEHAST RUEHDA RUEHDF RUEHFL RUEHHM RUEHIK RUEHKW RUEHLA RUEHLN RUEHLZ RUEHMA RUEHPB RUEHPOD RUEHROV RUEHSR RUEHTM RUEHVK RUEHYG DE RUEHWR #1171 2801151 ZNR UUUUU ZZH R 061151Z OCT 08 FM AMEMBASSY WARSAW TO RUEHC/SECSTATE WASHDC 7124 INFO RUEHZN/ENVIRONMENT SCIENCE AND TECHNOLOGY COLLECTIVE RUEHZL/EUROPEAN POLITICAL COLLECTIVE RUCPDOC/DEPT OF COMMERCE WASHINGTON DC
UNCLAS WARSAW 001171
SIPDIS
OPIC FOR WILLIAM PEARCE AND JAMES HANSLEY
E.O. 12958: N/A
TAGS: EFIN EINV ECON PL
SUBJECT: OPIC SUPPORT FOR GREEN EMERGY MARKETS FUND - DUE
DILLIGENCE
REF: SECSTATE 103210
Post supports the goals of OPIC's proposed relationship with
the Virgin Green Emerging Markets Fund (the Fund) and is not
aware of any substantial political or public relations
downside to the project. Improving energy efficiency and
expanding use of renewables are increasingly important
priorities for both the Polish government and USG throughout
the region. Poland will likely soon face costly EU-related
emissions caps, which will place a huge burden on its largely
coal-dependent energy sector. The project's proposed focus
on supporting private sector activity in renewables,
efficiency and water would be well received given these
factors. Capital markets in Poland are fairly well
developed. However, the energy sector is dominated by state
controlled entities and it remains difficult to get financing
for startup projects and long-term investments in the Fund's
proposed areas. Post does not know of any negative
information regarding the prospective Fund manager's
reputation in Poland.
ASHE