Getting New Energy Into The World’s Emerging Markets
A new approach to scaling-up renewable power in emerging markets
Milagros Rivas Saez, 30 June 2020 (World Economic Forum)
“…With the world going through an unprecedented pandemic, providing affordable energy to the unserved [nearly 840 million people] is even more critical for saving lives, powering health facilities and keeping people connected…Renewable energy, and especially solar power, has emerged as one of the key solutions…Utility-scale solar photovoltaic (PV) power generation is developing rapidly around the world, and costs have fallen significantly…In emerging markets, the uptake of solar PV takes longer because it is difficult to attract larger and more experienced developers. Compared with other regions, the existing political and credit risks have greatly increased prices…[But] there is huge demand for innovative and scalable solutions in emerging markets…
...[A] packaged solution that offers tools and templates to governments that have proven to work…A single mandate signed by a government can include all or part of the technical, financing and guarantee products that these institutions provide…1. It de-risks projects, which delivers lower tariffs…2. It streamlines processes…3. It achieves economies of scale…[A]uthorizations signed using this approach represent more than 1 GW of new solar power generation under development, and private sector investment is expected to exceed $1 billion…[Financing] will require extensive public and private investment…[and] a pipeline of well-designed and bankable projects…Standardized approaches are helping to build affordable renewable energy pipelines. The next stage is looking at how to include energy storage in these projects…” click here for more
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