International Renewable Energy Agency (IRENA) has released a new report that provides policy makers, financial institutions and project developers with a range of options to help scale up investment in renewable energy.
To meet global climate and sustainable development goals, investment in renewable energy must double by 2020 and more than triple by 2030, according to IRENA.
New report ‘Unlocking Renewable Energy Investment: the role of risk mitigation and structured finance’ finds that reaching this level of investment is entirely possible, but it will require policymakers and public finance institutions to employ a portfolio of approaches that target different investment constraints facing private finance, which will make up the majority of new investment in renewables.
Adnan Amin , IRENA’s General Director, said: “Markets worldwide can respond to the economic realities of renewables today and attract large-scale investors into the renewables sector. This new report demonstrates that scaling up renewable energy investment to the levels required is possible through policy and financial tools at hand today. Governments and other stakeholders now have the tools to take the actions needed to meeting global climate and sustainable development goals.”
The report analyses various financial instruments and structures and offers an all-in-one guide to scale up renewable energy investment worldwide, IRENA informed.
Case studies and survey results provide insights on challenges, opportunities and best-practices in different markets.
The report identifies the following five main action areas where policy makers and public finance institutions can address risks and barriers facing renewable energy projects:
IRENA is an intergovernmental organization, mandated by governments worldwide, to promote the widespread and increased adoption and sustainable use of all forms of renewable energy.