The role of policy driven incentives to attract PPPs in renewable-based energy in developing countries: a cross-country analysis

● By Maria Vagliasindi, The World Bank, Sustainable Energy Department, Energy Unit ● A recent report of the World Bank presents new global evidence on the key determinants of public-private partnership investment in electricity generated by renewable energy based on a panel data analysis for 105 developing countries over a period of 16 years from 1993 to 2008. It aims to identify the key factors affecting the private investor's decision to enter renewable-based energy generation, through a probit analysis and the amount of investment sunk in this market segment, based on Heckman's sample selection analysis. One of the key results of the paper is that the market for renewable-based energy is strongly driven by supportive policies. Support policies serve not only to attract the entry of private investors, but also to determine the level of investment. In the latter case, its impact is less significant, suggesting the need over time to revisit the power of the incentive schemes, as well as the implied allocation of risks between the public and private sector to ensure that feed-in tariffs produce the desired amount of investment ...Zum vollständigen Artikel

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