The world has seen a sharp increase in renewable energy (RE) capacity over the past decades. This is thanks to a rise in RE promotion schemes; actions to make energy more secure in response to climate change; and a sharp fall in RE technology costs. This is an encouraging trend, as renewable energy solutions can yield important social, economic and environmental benefits, such as removing pressure on important ecosystems and allowing countries’ electrical grids to be stable and reliable engines of economic growth.
UNDP assists governments in identifying and implementing public de-risking instruments that catalyze private sector investment in large scale, on-grid renewable electricity technologies. UNDP supports governments in transforming their renewable energy markets—removing barriers to renewable energy investment and creating favourable conditions for private sector involvement.
Currently, UNDP implements 42 renewable energy projects in 38 countries worldwide, mobilizing a total of US$114 million Global Environment Facility (GEF) resources and leveraging another US$926 million in co-financing from other sources.