Photovoltaic Market Transformation Initiative

The Photovoltaic Market Transformation Initiative (PVMTI), an initiative of the International Finance Corporation (IFC) and the Global Environment Facility (GEF), aims to promote the sustainable commercialization of PV technology in the developing world by providing examples of successful and replicable business models that can be financed on a commercial basis.

Now in its 8th year of operation since the launch of PVMTI in June 1998, PVMTI has committed more than US$16.6 million to nine projects in India, Kenya and Morocco. It is in the process of finalizing additional projects for the remaining funds available under the PVMTI project.

While there are new sponsor companies under discussion, PVMTI is also playing an instrumental role in promoting capacity building initiatives in the 3 countries. With an elaborate capacity building programme in place in Kenya, PVMTI is now evaluating similar opportunities in India and Morocco.

Progress under the existing projects has been varied on account of a wide range of challenges in each of the countries. The changes in the global photovoltaic sector have also influenced the success of the sponsor companies and called for constant adjustments to the business models. In spite of these challenges, the programme has sponsored the set up of around 64000 systems (as of December 31, 2006).

A recent business retreat brought together for the first time participants from the PVMTI project countries. The retreat was a huge success with an informative exchange of lessons, best practices and experiences.

PVMTI 2006 Retreat