Identifier
Created
Classification
Origin
09BUDAPEST764
2009-10-16 15:51:00
UNCLASSIFIED
Embassy Budapest
Cable title:
HUNGARY: OPIC-SUPPORTED GLOBAL RENEWABLE ENERGY
how-toVZCZCXRO2112 RR RUEHIK DE RUEHUP #0764 2891551 ZNR UUUUU ZZH R 161551Z OCT 09 FM AMEMBASSY BUDAPEST TO RUEHC/SECSTATE WASHDC 4588 INFO RUEHZL/EUROPEAN POLITICAL COLLECTIVE RUCPDOC/DEPT OF COMMERCE WASHDC RUEATRS/DEPT OF TREASURY WASHDC
UNCLAS BUDAPEST 000764
SIPDIS
PASS OPIC FOR BARBARA BRERETON
E.O. 12958: N/A
TAGS: PREL EFIN HU
SUBJECT: HUNGARY: OPIC-SUPPORTED GLOBAL RENEWABLE ENERGY
INVESTMENT FUND
REF: STATE 95170
UNCLAS BUDAPEST 000764
SIPDIS
PASS OPIC FOR BARBARA BRERETON
E.O. 12958: N/A
TAGS: PREL EFIN HU
SUBJECT: HUNGARY: OPIC-SUPPORTED GLOBAL RENEWABLE ENERGY
INVESTMENT FUND
REF: STATE 95170
1. (U) In response to reftel request, Post believes that the
objectives of the OPIC-Supported Global Renewable Energy
Investment Fund (OPIC Fund) are consistent with Hungary's
program for economic development, which stresses the
importance of sustainable growth and the use of renewable
energy resources.
2. (U) Hungary's current economic development plan is known
as the "New Hungary Development Plan: 2007-2013". One of the
main goals of the plan's regional development program is
"promoting energy efficiency and savings as well as the use
of renewable energy sources." The plan notes that currently
only 3.6 percent of Hungary's total energy demands are met
through renewable energy resources, and further notes that
although per capita energy consumption in Hungary is below EU
averages, energy efficiency remains a problem in Hungary.
3. (U) The OPIC Fund objectives are also consistent with the
EBRD's strategy for Hungary, which notes that "investments in
the diversification of energy supplies, in energy efficiency
and renewable energy need to be promoted (in Hungary) to
enhance energy security, reduce energy intensity, and meet
environmental targets."
4. (U) Availability of funds from other sources: Hungary
receives funds for development as an EU Member State,
including through EU Structural and Cohesion grants. Hungary
also receives funding under various targeted EBRD financing
facilities.
5. (U) Post has no specific opinion on the local reputation
of the prospective fund manager listed reftel.
LEVINE
SIPDIS
PASS OPIC FOR BARBARA BRERETON
E.O. 12958: N/A
TAGS: PREL EFIN HU
SUBJECT: HUNGARY: OPIC-SUPPORTED GLOBAL RENEWABLE ENERGY
INVESTMENT FUND
REF: STATE 95170
1. (U) In response to reftel request, Post believes that the
objectives of the OPIC-Supported Global Renewable Energy
Investment Fund (OPIC Fund) are consistent with Hungary's
program for economic development, which stresses the
importance of sustainable growth and the use of renewable
energy resources.
2. (U) Hungary's current economic development plan is known
as the "New Hungary Development Plan: 2007-2013". One of the
main goals of the plan's regional development program is
"promoting energy efficiency and savings as well as the use
of renewable energy sources." The plan notes that currently
only 3.6 percent of Hungary's total energy demands are met
through renewable energy resources, and further notes that
although per capita energy consumption in Hungary is below EU
averages, energy efficiency remains a problem in Hungary.
3. (U) The OPIC Fund objectives are also consistent with the
EBRD's strategy for Hungary, which notes that "investments in
the diversification of energy supplies, in energy efficiency
and renewable energy need to be promoted (in Hungary) to
enhance energy security, reduce energy intensity, and meet
environmental targets."
4. (U) Availability of funds from other sources: Hungary
receives funds for development as an EU Member State,
including through EU Structural and Cohesion grants. Hungary
also receives funding under various targeted EBRD financing
facilities.
5. (U) Post has no specific opinion on the local reputation
of the prospective fund manager listed reftel.
LEVINE