Press Release


Financing Renewable Energy – Key challenges for large-scale deployment


The FINANCE-RE project was launched to address the key finance challenges related to the large-scale deployment of renewable energy. The report provides insight into the current practice and trends in financing renewable energy and presents the key challenges that need to be faced when following a large-scale RE deployment scenario. It addresses the current, the mid-term (2020) and longer-term (2050) financing needs. It also outlines what is needed to attract this capital and to improve the investment climate. Policies and key policy design aspects which can facilitate this process are discussed and complemented with the experiences and lessons so far. The report contains a couple of directions for actions, especially for policy makers but also for players in the financial sector.

Main conclusions and recommendations from the report

The report states that new policy approaches are key in attracting huge private financing for renewable energy. Governments should consider scaling up of renewable energy as part of their robust economic development strategy, rather than as an environmental strategy with the secondary benefits of job creation. Such an approach is fundamental to attracting new private-sector investment to finance renewable projects at a scale that is needed to address climate change. Proven mechanisms should not be abandoned, but new policies have to target ways to reduce the risk-to-reward ratio in order to enhance private sector investor confidence for investment in large scale renewable energy.

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