Secretariat of the International Renewable Energy Agency (IRENA)
Division of Project Facilitation and Support (PFS)
Energy Transition Accelerator Finance Unit
Publication/Transmission Date: 27 July 2021
Deadline for Application: 10 August 2021
Title and Grade: Intern, Energy Transition Finance
Duration of Appointment: 6 Months
Indicative Remuneration: Monthly stipend
The International Renewable Energy Agency (IRENA) is an inter-governmental organisation, headquartered in Masdar City, Abu Dhabi, mandated to promote the adoption and continuous use of all forms of renewable energy sources in the pursuit of sustainable development, energy access, energy security and low-carbon economic growth and prosperity. IRENA’s mission is to play a leading role in the ongoing transformation of the global energy systems as a centre of excellence for knowledge and innovation, a global voice of renewable energy, a network hub for all stakeholders and a source of advice and support for countries. At present, IRENA has 164 Members (163 States and the European Union) that acceded to its Statute, and 20 additional States in the process of accession and actively engaged.
IRENA supports Member countries to achieve their climate National Determined Contributions (NDCs) targets and fulfil the Sustainable Development Goals (SDGs) for clean and affordable energy. The Agency is committed to accelerate the energy transition and impact investing through an integrated project facilitation support focused on Member countries in their endeavour to scale renewable energy (RE) technologies in their economies.
IRENA, through its newly established division Project Facilitation Support (PFS), provides tailored technical assistance and financing matchmaking at project intervention level to reduce the challenges local developers face to reach project’s commercial feasibility, and to build a robust pipeline of investor-ready and scalable RE projects.
In 2014, IRENA developed a strategic partnership with the Abu Dhabi Fund for Development (ADFD) via the implementation of a USD 350 million concessional funding facility (the Facility). This Facility successfully enabled the mobilisation of financing of RE projects in 21 developing countries. The Facility attracted over 600 RE projects for financing matchmaking consideration. Out of these, 269 projects were shortlisted, and 32 projects were selected by ADFD for funding. Out of these 32 candidates, 26 projects received funding from the ADFD’s Facility. These 26 projects attracted approximately USD 570 million in co-funding from other financing sources, mobilising almost USD 920 million in total impact investing.
The convening power of IRENA and ADFD is capitalised on the lessons learned from the described Facility to design, implement and operationalise a new facility (Energy Transition Accelerator (ETA) Financing Platform) that will be fit-for-purpose the global “Energy Transition” mandate of IRENA to scale impact investing. The ETA Financing Platform would be a “facilitation financing matchmaking hub” designed to pilot the development and implementation of low-carbon and climate-resilient RE projects specially gear towards local developers, corporates, and private sector investors.
Objectives of the Internship Assignment
The internship post is located in the Project Facilitation and Support (PFS) Division, within the Finance Hub Unit. The intern will provide support to the work of the PFS Finance Hub and contribute to the launch of the ETA Financing Platform.
Duties and Responsibilities
In line with the objectives outlined above, the intern is expected to perform a range of technical and organisational functions, including analytical assignments; and support the work of the PFS Finance Hub, including but not limited to the following:
During the internship period, the successful applicant will develop an understanding of how renewable energy projects are evaluated for funding and the climate finance gaps in developing countries. The applicant will also develop analytical, organising, monitoring, reporting, research and communications skills.
The internship is for 6 months commencing as soon as possible. The exact period will be determined based on the availability of the intern and the needs of the programme. The maximum duration of the internship is nine months, subject to the needs of the programme and performance of the intern.
IRENA interns are not considered to be staff members. The selected intern will work remotely on a full-time basis (40 hours per week) as per the working hours of IRENA premises in Abu Dhabi, UAE.
For more detailed information about IRENA Internship Programme, please visit the internships section on our recruitment webpage.
IRENA wishes to encourage applications from female candidates.
Please note that only candidates under serious consideration will be contacted for an interview and will receive notice of the outcome of the selection process
This internship is remote based, and the selected intern will be remunerated at a rate of USD 1,200.