A Tale of Two Countries: Financing Renewable Energy in Nigeria and Brazil

Isah, Abdulrasheed

doi:10.2139/ssrn.3377029

Cited by 3 publications

(2 citation statements)

References 18 publications

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“…Studies by Tsao et al (2021) and Bohland and Schwenen (2022) emphasized the temporal nature of subsidization and exposed disputes and tensions in funding, including coverage gaps and disputes among stakeholder groups. In addition to providing valuable insight into renewable energy distribution, innovation and policymaking (Donastorg et al 2022;Dinçer et al 2021), mobilizing financing for renewable energy in developing countries is necessary (Isah 2019). Recent attention has been directed toward renewable energy financing, owing to the imperative for heightened investment in clean energy to address global demand while mitigating environmental consequences (Qadir et al 2021).…”

Section: Sustainable Finance and Renewable Energymentioning

confidence: 99%

Sustainable Financing for Renewable Energy: Examining the Impact of Sectoral Economy on Renewable Energy Consumption

Getachew,

Lakner,

Desalegn

et al. 2024

Economies

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This study examines the effect of international financial flows, including investments and development assistance, on the expansion of renewable energy technologies. It also seeks to investigate the impact of the sectoral economy on the proportion of renewable energy consumption in Ethiopia. This study used an explanatory research design and a quantitative research approach. An autoregressive distributed lag model was applied to explore the long and short-term relationship among variables. A time series of data aggregated and disaggregated ranging from 2000 to 2022 was used. According to this study, sustainable finance programs are essential for advancing and aiding renewable energy projects in the long and short term. Ethiopia’s use of renewable energy will increase as sustainable finance rises. The main economic sectors determining Ethiopia’s consumption of renewable energy in the long and short term include the manufacturing, mining and service industries. This study’s findings imply that policies focusing on providing continuous financial support and fostering international cooperation to promote the development of the manufacturing sector are needed. This could include incentives for adopting renewable energy technologies and investing in renewable energy infrastructure. On the other hand, since the service and mining industries negatively impact renewable energy use, there is a need to diversify renewable energy sources beyond these sectors. This could involve promoting renewable energy projects in other sectors, such as manufacturing, agriculture, construction and trade. Based on the findings of this study, it is suggested that policymakers carefully consider the consequences within each economic sector when formulating decisions related to renewable energy. This study is novel in presenting empirical evidence linking renewable energy use to long- and short-term economic growth.

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Section: Sustainable Finance and Renewable Energymentioning

confidence: 99%

Sustainable Financing for Renewable Energy: Examining the Impact of Sectoral Economy on Renewable Energy Consumption

Getachew,

Lakner,

Desalegn

et al. 2024

Economies

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“…The World Bank's $350 million funding intervention facility approved in 2018 was a major stimulus for the swift execution of some of these initiatives [71]. Several projects funded by this facility are at different levels of completion (with some fully commissioned and in use) [72,73]. The World Bank facility was targeted for the following uses: $150 million for minigrid projects comprising $70 million competitive bidding for portfolios of minigrid sites and $80 million for connecting new customers $75 million for Solar Home Systems (SHS) comprising $15 million accelerator grants to high-potential importers/distributors and $60 million output based grants $105 million for university and teaching hospital power systems targeted at 37 federal universities and 7 affiliated teaching hospitals.…”

Section: Rural Electrification Agency (Rea)mentioning

confidence: 99%

A review of stakeholders and interventions in Nigeria's electricity sector

Edomah¹,

Ndulue²,

Lemaire³

2021

Heliyon

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In this paper, we explored the interplay between the electricity market structure, methods of electricity trading and different stakeholder dynamics within the Nigerian Electricity Supply Industry (NESI) with a view to understanding how these interplays impact on various forms of interventions in the Nigerian electricity sector. We started off by exploring the market structure and electricity trading system within the Nigerian electricity sector and reviewed the various stakeholder groups within centralized and decentralized electricity systems in Nigeria's electricity sector by highlighting their core responsibilities and the dynamics at play in satisfying their interests. This study revealed that: (1) external stakeholder groups (such as donor agencies and multi-lateral organizations) exert more influence in Nigeria's electricity sector through financial interventions;(2) lack of coordination and engagement among various stakeholder groups pose a challenge to effective electricity infrastructure interventions that address the needs of people in society. The study concludes by highlighting the implications of these challenges and the need to address the rising complexities and uncertainties for better stakeholder involvement in addressing the salient challenges in the sector.

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