Clean Energy Finance

Renewable Energy Finance: Theory and Practice integrates the special characteristics of renewable energy with key elements of project finance. Through a mixture of fundamental analysis and real-life examples, readers learn how renewable energy project finance works in actual deals that mix finance, public policy, legal, engineering and environmental issues. The skills developed in analyzing non-recourse cash flow-based finance are applicable not only to green energy, but also apply more widely in project finance and infrastructure investing. The book's comparisons of developed and developing countries make it valuable to readers worldwide. Presents real world cases in each chapter Includes a companion website that contains renewable energy project finance models and other resources Supports efforts to achieve environmental sustainability through renewable financing projects and cleaner production techniques

The future of clean energy is no longer about science and technology; it's all about access to finance. The fossil fuel industry has been subsidized for decades with tax breaks and government backing, while renewables have struggled to compete. But now clean energy is the safe bet for investors, as is argued in Renewable Energy Finance: Powering the Future, edited by Dr Charles Donovan, Principal Teaching Fellow at Imperial College Business School. With a Foreword writer Lord Brown and contributions from some of the world's leading experts in energy finance, this timely book documents how investors are spending over US$250 billion each year on new renewable energy projects and positioning themselves in a global investment market that will continue to expand at double-digit growth rates until 2020. It documents first-hand experiences of the challenges of balancing risk and return amid volatile market conditions and rapid shifts in government policy. Renewable Energy Finance provides an insider's perspective on renewable energy transactions, and insight into how countries like the US, India and China are responding to the global energy challenge. Drawing together contributions from senior executives and leading academics, Renewable Energy Finance serves an audience of readers craving intelligent, practical perspectives on the future of clean energy investment. Contents:Section I:Introduction to Renewable Energy Finance (Charles Donovan)The Clean Energy Imperative (Jim Skea)How Much Renewable Energy Will the Global Economy Need? (Guy Turner)Investor-Specific Cost of Capital and Renewable Energy Investment Decisions (Thorsten Helms, Sarah Salm & Rolf Wüstenhagen)Section II:Markets, Governments and Renewable Electricity (Richard Green)The Impact of Government Policies on Renewable Energy Investment (Gireesh Shrimali)Mobilizing Private Sector Capital in Developing Countries (Alexandre Chavarot & Matthew Konieczny)Renewable Energy Finance in China (Philip Andrews-Speed & Sufang Zhang)Measuring the Carbon Delta of Investment Performance (Celine McInerney & Derek Bunn)Section III:The Growing Role for Private Equity (Brian Potskowski & Chris Hunt)Project Finance and the Supply of Credit from Commercial Banks (Alejandro Ciruelos Alonso)The Untapped Potential of Institutional Investors (David Nelson)The Spectacular Growth of Solar PV Leasing (Bruce Usher & Albert Gore)Crowdfunding: Ready for the Big Leagues? (Karl Harder & Sam Friggens) Readership: Advance economics undergraduates and postgraduates undertaking modules in Environmental and Energy economics. Finance students undertaking Energy Finance modules. Researchers and interested financial professionals looking for a reference volume on clean energy investing. Keywords:Renewable Energy;Clean Energy Finance;Solar Energy Financing

Foreword by Lord Browne of MadingleyReviews of the First Edition:'The entire text is quite readable and can be moved through with relative ease. This reviewer heartily recommends that, regardless of your background, you read this book to really get a grasp of the cutting-edge of climate finance.'LSE Review of BooksRenewable Energy Finance (Second Edition) describes in rich detail current best practices and evolving trends in clean energy investing. With contributions by some of the world's leading experts in energy finance, the book documents how investors are spending over $300 billion each year on financing renewable energy and positioning themselves in a growing global investment market. This second edition documents, with practical examples, the ways in which investors have funded over $2.6 trillion in solar, wind, and other renewable energy projects over the past decade. The book will be a go-to reference manual for understanding the factors that shape risk and return in renewable energy, the world's fastest growing industrial sector. The book is suitable for executives new to the field, as well as advanced business students.Edited by Dr Charles Donovan, Principal Teaching Fellow at Imperial College Business School and formerly Head of Structuring and Valuation for Global Power at BP, the book will give readers a unique insiders' perspective on how renewable energy deals actually get done.

This open access book analyses barriers and challenges associated with the financing of clean energy access in sub-Saharan Africa. By considering various economic, financial, political, environmental and social factors, it explores the consequences of energy poverty across the region and maps the real and perceived investment risks for potential capital providers, both domestic and international. Furthermore, it analyses risk mitigation strategies and innovative financing structures available to the public and private sectors, which are aimed at leveraging capital in the clean energy sector at scale and fostering the creation of an enabling business and investment environment. More specifically, the present book analyses how to (i) enhance capital allocation in projects and organisations that foster clean energy access in the region, (ii) mobilize private capital at scale and (iii) decrease the cost of financing through risk mitigation strategies. Going beyond traditional approaches, the book also considers socioeconomic and cultural aspects associated with investment barriers across the subcontinent. Moreover, it urges the public and private spheres to become more actively involved in tackling this pressing development issue, and provides policy recommendations for the public sector, including proposals for business model evolution at multilateral agencies and development institutions. It will appeal to a wide readership of both academics and professionals working in the energy industry, the financial sector and the political sphere, as well as to general readers interested in the ongoing debate about energy, sustainable development and finance.

Viet Nam has become a leading regional market for renewable energy in a short space of time led by private sector investment facilitated by favourable support mechanisms. The Clean Energy Finance and Investment Policy Review of Viet Nam provides a comprehensive overview of the current policy framework, highlighting progress and identifying untapped opportunities for strengthening policy interventions that can help scale up clean energy finance and investment.

This handbook deals with various financial instruments, policies, and strategies in a policy-oriented approach for financing green energy projects. Recently, global investment in renewables and energy efficiency has declined, and there is a risk that it will slow further, Clearly, fossil fuels still dominate energy investments. This trend could threaten the expansion of green energy needed to meet energy security, climate, and clean-air goals. Several developed and developing economies are still following pro-coal energy policies. The extra CO2 generated from new coal-fired power plants could more than eliminate any reductions in emissions made by other nations. Finance is the engine of development of infrastructural projects, including energy projects. By providing several thematic and country chapters, this handbook explains that if we plan to achieve sustainable development goals, we need to create opportunities for new green projects and scale up the financing of investments that furnish environmental benefits. New financial instruments and policies such as green bonds, green banks, carbon market instruments, fiscal policy, green central banking, fintech, and community-based green funds are among the chief components that make up green finance. Naoyuki Yoshino is Dean, Asian Development Bank Institute and Professor Emeritus, Keio University. Jeffery Sachs is Director, Center for Sustainable Development at Columbia University. Wing Thye Woo is Professor of Economics, U.C. Davis. Farhad Taghizadeh-Hesary is Assistant Professor, Waseda University.

This book examines clean energy investment needs and financing gaps in Asia and the Pacific and discusses how they are being addressed. It reviews existing financing options and approaches for clean energy, and includes country examples of how these have been applied. Innovative solutions for mobilizing private finance and managing risks associated with clean energy investments are also discussed. The book is the first of two volumes that look at various approaches and instruments that have been tried, tested, and utilized to scale up clean energy development in the region.