30 June 2016| Press Release
Beijing, China, 30 June 2016 – A new report released today on the margins of the G20 Energy Ministers meeting in Beijing 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. Unlocking Renewable Energy Investment: the role of risk mitigation and structured finance, finds that reaching this level of investment is entirely possible. 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.
“Renewables lie at the heart of the global energy transformation, which offers an economically attractive answer to energy security, energy access and climate change,” said Adnan Z. Amin, IRENA Director-General. “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,” added Mr. Amin. “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. Case studies and survey results provide insights on challenges, opportunities and best-practices in different markets. The report identifies five main action areas where policy makers and public finance institutions can address risks and barriers facing renewable energy projects:
Download the full report: http://bit.ly/28XY9Xt
About the International Renewable Energy Agency (IRENA)
IRENA is mandated to be the global hub for renewable energy cooperation and information exchange by 149 Members (148 States and the European Union). Roughly 27 additional countries are in the accession process and actively engaged. IRENA promotes the widespread adoption and sustainable use of all forms of renewable energy, in the pursuit of sustainable development, energy access, energy security and low-carbon economic growth and prosperity. www.irena.org
Timothy Hurst, Chief Communications Officer, IRENA, email@example.com