Financing large scale wind and solar projects—A review of emerging experiences in the Indian context

Umamaheswaran, Swarnalakshmi; Seth, Rajiv

doi:10.1016/j.rser.2015.02.054

Cited by 39 publications

(8 citation statements)

References 20 publications

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“…Spencer and Stevenson [121] the association between energy consumption and, banking and capital markets in the EU region to claim that effective mobilization of low-carbon financing have reduced CO 2 emissions. Umamaheswaran and Rajiv [122] investigated the strategic importance of renewable energy sector in India and reported that a conducive regulatory, financial and policy framework will play critical role in addressing GHG emissions in Indian economy.…”

Section: Empirical Results and Discussionmentioning

confidence: 99%

The nexus between environmental tax and carbon emissions with the roles of environmental technology and financial development

et al. 2020

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This study evaluates the impacts of renewable energy, environmental taxes, environmental technology, and financial development on carbon emissions in OECD economies from 1995 to 2015 by employing system-GMM and quantile regression approaches. Our empirical analysis indicates that environmental tax negatively affects carbon emissions; economic growth impedes environmental quality by increasing carbon emissions. Further, renewable energy consumption, environmental technology, and financial development improve environmental quality by decreasing carbon emissions. We suggest that changes in policymaking to promote sustainable economic growth and environmental quality should be prevent environmental degradation, but also inspire greater investments in new technologies and energy expertise in the renewables industry.

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Section: Empirical Results and Discussionmentioning

confidence: 99%

The nexus between environmental tax and carbon emissions with the roles of environmental technology and financial development

et al. 2020

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“…However, obtaining finance for such a substantial energy transition for a major economy could be a considerable barrier to scalable adoption over time. This challenge and related risks are comparable to that experienced by other developing economies, such as India, which have developed a complementary "national renewable finance framework" that embraces a set of financial instruments for renewable energy development [4].…”

Section: Introduction 1challenges In Scaling Up Renewable Energy Assetsmentioning

confidence: 83%

Scaling up Renewable Energy Assets: Issuing Green Bond via Structured Public-Private Collaboration for Managing Risk in an Emerging Economy

2021

Energies

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Green bonds have increasingly been utilized around the world as a source of financing for renewable energy development, designed with compliance requirements and measurable economic returns to investors, while mitigating climate change. However, the efficacy of green bond arranged in the emerging economies for financing renewable energy assets and how the underlying risks are managed have remained to be explored. The paper aims to examine the evolving green financial system sponsored by both public and private institutions in managing such risks within China’s emerging economy. A case study of green financing for a bundle of wind power assets led by a state-owned enterprise (SOE) reveals an alternative approach by structuring public–private collaboration while stipulating market-based financial incentives to institutional stakeholders under a political economy. This institutional consortium is composed of a state development bank, a commercial bank, credit rating agencies, institutional and private investors, regional power purchasers, and carbon trading entities. Financial stakeholders’ risk in such emerging sustainable investment is moderated by these participating institutions and structured “upsides” from carbon trading aligned with the framework of green finance and standards for green bond development. The results reveal the potentials of scaling up the development of renewable energy by adequately managing and sharing key risks, while allocating substantial funding into renewable energy projects under such a green financial system that is to be complementary with a scalable post COVID-19 economic recovery.

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“…Most of the IPPs are active in the secondary market too and takes benefits from the sale of renewable by various big companies who developed these earlier for a captive sourcing or tax break but now deciding to concentrate on their principal commercial activities (BT, 2015). The policies of Indian government are also very supportive to green energy companies seeking external commercial borrowings, FDI (foreign direct investment) or funding from development and multilateral bank (Umamaheswaran and Rajiv, 2015). With the aim to accelerate development in renewable energy, Indian government has allowed 100 percent FDI in this sector (Kathuria et al , 2015).…”

Section: Green Energy Sector In Indiamentioning

confidence: 99%

“…Some specialised commercial banks and NBFC such as Rural Electrification Corporation have funded green energy projects on a rate lower than other infrastructure projects. Generally, the deficiency of non-recourse funding is the biggest limitation of new companies in the green energy sector (Umamaheswaran and Rajiv, 2015) as banks are largely concerned about counterparty risk and resource risk. To avoid this, financial institutions prefer balance sheet financing or corporate and promoter guarantees in contrast to project financing (Shrimali et al , 2017a, b).…”

Section: Green Energy Sector In Indiamentioning

confidence: 99%

Green energy management in India for environmental benchmarking: from concept to practice

Sangroya

Kabra

Joshi

et al. 2020

MEQ

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PurposeThis study examines various aspects of green energy management operations in India and reports the current state, potential avenues and barriers for green energy management.Design/methodology/approachThis study performs an extensive literature review and covers the several aspects of green energy management operations.FindingsThe findings report the current state of various aspects of green energy management operations such as: procurement, manufacturing and distribution and provides the viable business models. It further explains the various facilitators and barriers of green energy management and reports the opportunities and challenges that exist in developing and managing green energy supply chain.Originality/valueThe study is pioneer in providing a comprehensive view of developing and managing green energy operations in India. The study is useful to various organisations on drafting strategies to effectively adopt and manage green energy. The study is also useful in policy formulation for promoting green energy use. This article also set as a base for future researchers working in the area of green energy.

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Financing large scale wind and solar projects—A review of emerging experiences in the Indian context

Cited by 39 publications

References 20 publications

The nexus between environmental tax and carbon emissions with the roles of environmental technology and financial development

The nexus between environmental tax and carbon emissions with the roles of environmental technology and financial development

Scaling up Renewable Energy Assets: Issuing Green Bond via Structured Public-Private Collaboration for Managing Risk in an Emerging Economy

Green energy management in India for environmental benchmarking: from concept to practice

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