Derisking Renewable Energy Investment: Belarus
Increasing carbon-neutral technologies in the energy mix is one of the main priorities of the Government of Belarus to reduce the country’s dependency on energy imports. The Concept of Energy Security is one of the main energy policy documents in Belarus and aims to achieve a 9 % share of renewable energy in the country’s energy mix by 2035.
Wind energy in Belarus has huge potential. Many parts of the country have favorable wind speeds. Over the past decades, wind energy costs dropped significantly and often represent a cost competitive alternative to fossil fuels, and thus represents an opportunity for Belarus to lower energy imports while meeting its climate change mitigation contributions under the Paris Agreement.
UNDP is working with the Government of Belarus to implement a five-year Global Environment Facility (GEF) financed Project “Removing Barriers to Wind Power Development in Belarus”, which started implementation in 2015 and will last until 2020.
As part of the project preparation activities, UNDP has performed a DREI modelling analysis on the possible government interventions to create a conducive investment environment and thus address risks and barriers that impede lower-cost private sector investment in wind energy. The results provide quantitative data on the cost effectiveness of these government measures. The aim of this report is to assist policy makers in Belarus to select and implement government interventions that catalyze private sector investment in wind energy at the lowest costs.
The following materials on DREI Belarus, in English and Russian, are available for download (top right-hand corner of this page):
- Key Points for Decision-Makers (PDF)
- Executive Summary (PDF)
- Full Report (PDF)
- LCOE Financial Tool (Excel)
For more information on UNDP’s derisking work, please visit the main DREI page.