31 August 2022 | Articles
Advancing renewable energy projects towards financial closure
While renewable energy investments have seen steady growth over the last decade, a more rapid scaling-up is necessary in developing countries to meet climate and sustainable development goals.
Renewable energy projects, especially in developing countries, face multiple challenges from the institutional, policy and regulatory level to the market and project level which can hinder the development and uptake of renewable energy. The latter include lack of market transparency, lack of financing and experience in project development, and lack of relevant information on regulations, markets and resource availability. This has led to a lack of bankable projects, making it difficult for investors to identify attractive projects, and therefore reducing available capital for those that are ready to be financed.
Targeting specifically project-level barriers, IRENA tools aim to create a pipeline of investment mature projects by actively supporting early stage project development and bridging the funding gap by assisting project developers access appropriate funding opportunities.