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Financing Renewable Energy in Developing Countries: Drivers and Barriers for Private Finance in Sub-Saharan Africa

Sources:

UNEP Finance Initiative

Authors:

Remco Fischer

Michel Crevecoeur

et al.

Date:

1 February 2012

This report outlines how sub-Saharan African countries can address current energy challenges with sustainable and renewable solutions. To meet the region’s energy demands and support economic growth, Africa will have to add 7,000 megawatts of new generation capacity every year. The report outlines three main policy recommendations in order for sub-Saharan African countries to take advantage of their considerable renewable resources to meet this requirement: (1) create a level playing field in terms of profitability between renewable and conventional generation sources, (2) provide easy market and grid access to the private sector and (3) mitigate political and regulatory risk.