2012-12-31-IRENA-Financial_Mechanisms_and_Investment_Frameworks_for_Renewables_in_Developing_Countries_112页_12mb

2.

• Renewable energy (RE) investment in developing countries increased significantly, accounting for about 35% of global RE investment in 2011, up from 37% in 2010.
• The "big three" developing countries (China, India, Brazil) dominated RE investments, with China leading globally.
• Asset finance for utility-scale projects rose in 2011 compared to 2010, reversing a slight decline.
• For RE investors, Brazil's National Development Bank (BNDES) is a central actor, along with multilateral development banks (MDBs) like the World Bank and IDB.
• Different types of RE investors include governments, banks, pension funds, insurance companies, and private equity firms.
• Market failures (e.g., high upfront costs, perceived risks, limited grid access) and policy barriers (e.g., unclear regulations, uncertain policies) hinder RE investment.
• Externalities (social and environmental costs) are not fully accounted for in energy pricing, making RE technologies appear more expensive.
• Biomass remains dominant in developing countries like India and Thailand due to abundant waste resources, but rising feedstock prices pose challenges.
• Solar energy is growing rapidly due to declining costs of PV technology and supportive policies.
• Hydroelectric power is widely used (e.g., Brazil), while wind energy is expanding significantly in countries like Mexico and India due to favorable policies.
• Countries like Brazil and India employ energy auctions and capacity-based incentives to drive RE investment.
• South Africa shifted from feed-in tariffs (REFIT) to competitive auctions (REPP) to improve policy consistency and project bankability.
• Capacity building programs (e.g., technical training, project evaluation) are crucial for enhancing local expertise in RE finance.
• Governments need to combine regulatory frameworks (incorporating sustainability, energy policy, and finance tools) with targeted public finance (grants, loans, guarantees) to mobilize RE investment.

3.

• ❌ Strong national mandates, such as RE portfolio standards, have boosted institutional capacity in countries like Brazil.
• Feed-in tariffs, though less prominent today, provided guaranteed pricing and incentives for RE deployment.
• Tax incentives, subsidies, and feed-in tariffs play a key role in encouraging private investment.
• Capacity building is essential for policymakers, financiers, and project developers to navigate RE financing processes.
• Conventional energy prices are artificially low due to externalities, making RE comparatively more expensive.
• Green Certificates or Renewable Energy Certificates are instruments used in some countries to incentivize renewable generation.
• Countries like Thailand use tax harmonization and levies on non-renewable energy to fund RE programs, treating fossil fuels as subsidies.
• Features like long-term Power Purchase Agreements (PPAs) and offsetting mechanisms are vital for mitigating investment risks.