A new position paper maps the path to unlocking pipelines of bankable renewable energy projects in emerging markets and developing countries. Authored by the Sustainable Renewables Risk Mitigation Initiative (SRMI), the paper offers insights to overcome barriers to renewable energy investments, and explores the nuanced realities of leveraging public and private funds for renewable energy projects. GET.transform contributed to the paper alongside the other SRMI members including the Asian Development Bank (ADB), the French Development Agency (AFD), the AfDB, the EBRD, IRENA, the International Solar Alliance (ISA), and SEforAll.
Aligning with the Paris Agreement targets needs tripling of total renewable energy capacity in emerging markets and developing countries by 2030, yet today sees a global shortage of bankable renewable energy projects available for private investment. While the “billions to trillions” concept, which involves leveraging a small injection of public funds to unlock vast amounts of private resources is appealing, the paper argues that the current situation is far more intricate and demanding.
In order to create the enabling environment necessary to unlock a pipeline of bankable renewable energy projects, the paper suggests a range of interventions for governments and development partners. These include establishing a long-term vision and commitments to competitive and transparent procurement processes and mitigation measures to reduce off-taker risk.
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