Women training to be solar engineers in Peru

CAP Knowledge Library

 

The CAP Knowledge Library aims to be a one-stop-shop for key publications on innovative financing mechanisms for small-scale clean energy from various sources. This includes links to UNDP reports and relevant external publications on financial aggregation, securitization, clean energy finance, climate finance, green bonds, investment data, market data, toolkits, RECS / DRECs / PRECs, and PAYGO.

CAP Publications

Linking Global Finance to Small Scale Clean Energy

This report analyses potential links between global finance to small-scale clean energy projects in developing countries.

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Financial Aggregation & Securization

Cities Climate Finance Leadership Alliance
Financial Aggregation Blueprints for Urban Climate Infrastructure

This report from the Cities Climate Finance Leadership Alliance examines eight blueprints from three different kinds of financial aggregation instruments.

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NREL, USAID, E4I
Financial And Operational Bundling Strategies For Sustainable Micro-Grid Business Models.

This report from NREL, USAID and E4I is a resource that developers, donors, and governments can use to understand the financial and business model challenges related to Sub-Saharan African micro-grids, and a set of emerging solutions to consider applying or supporting.

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NREL
The Potential of Securitization in Solar PV Finance.

The following report from NREL offers a high-level analysis of the immediate potential that securitization and access to the capital markets could offer the U.S. solar photovoltaics (PV) industry.

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MIT Energy Initiative
Solar securitization: An innovation in renewable energy finance

This report from the MIT Energy Initiative examines the mechanics of solar securitization, explore the potential tradeoffs, and discuss the asset class’ future.

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Eighteen East, The Rockefeller Foundation
A Sustainable Development Certificates Framework: How Securitization Can Enable DFIs and MDBs to Utilize Capital Markets To Deliver On Their Sustainable Development Objectives

This paper from Eighteen East and The Rockefeller Foundation proposes that a market for development finance securitisation instruments can be created at scale. The SDC Framework, and other such initiatives, have the potential to combine the unique expertise of development finance institution with the power of financial institutions and capital markets to deliver on the United Nations’ SDGs.

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CBI
Securitisation as enabler of Green Asset Finance in India

This report from the CBI discusses the role green asset backed securities (ABS) can play in helping India finance its green infrastructure and improve the lives of the poor and disadvantaged. However, we acknowledge that securitisation requires specialised structuring expertise, complex credit analysis and a specialised investor base.

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Climate Bonds Initiative
Green Securitisation: unlocking finance for small-scale low carbon projects

The article published by CBI in 2017, discusses the current environment challenges facing green securitisation.

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Climate Bonds Initiative
Green Securitisation: unlocking finance for small-scale low carbon projects.

The article published by CBI in 2018, discusses different types of asset-backed securities related to low-carbon assets.

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The Global Fund for Cities Development (FMDV)
Aggregation Interventions to Increase Urban Climate Finance.

This report from the the Global Fund for Cities Development (FMDV) aims to provide an overall scene-setting framework to illuminate actionable aggregation interventions that significantly increase finance for small and medium-sized climate projects and reduce carbon emissions in urban areas worldwide.

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Climate Bonds Initiative
Green Securitisation: unlocking finance for small-scale low carbon projects

The article published by CBI in 2017, discusses the current environment challenges facing green securitisation.

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Cities Climate Finance Leadership Alliance & CPI
Financial Aggregation for Cities

A brief published in 2022 by the Cities Climate Finance Leadership Alliance & the CPI about urban climate finance through financial aggregation

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Climate Bonds Initiative
Green Securitisation: unlocking finance for small-scale low carbon projects

The article published by CBI in 2018, discusses different types of asset-backed securities related to low-carbon assets.

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Green Bank Network
Green Bank Insight: Aggregation and Securitization

This paper by the Green Bank Network discusses several examples of Green Banks working to facilitate private investment in projects through strategies of aggregation and securitization.

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IIED
Turning up the volume financial aggregation for off-grid energy.

This paper by the IIED gives an overview of innovation in financial aggregation and how it tackles barriers as well as insights into the implications of design choices.

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IIED
Moving More Money: Can aggregation catalyze off-grid financing?

"This paper discusses challenges and lessons learned from projects done by AEPC in Nepal, IDCOL in Bangladesh, and
SunFunder in East Africa"

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IIED
Accelerating energy access with aggregation.

Insights by the IIED into financial aggregation in decentralized energy by talking about the market, the aggregators, the investors and measurement of the decentralized system's impact

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MILKEN INSTITUTE
Accelerating Securitization in Africa to Finance the SDGs: Future Flow Securitizations

This paper by the Milken Institute discusses the importance and benefits of Future Flow Securitizations (FFS) in accelerating ESG investing in emerging markets

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Persistent
Securitization: Unnecessary Complexity or Key to Financing the DESCO Sector.

This article assesses securitization in the DESCO sector by Persistent.

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The Global Innovation Lab for Climate Finance
Green Receivables Fund (Green FIDC)

Introducing the concept and potentials of Green Receivables Fund from the Global Innovation Lab for Climate Finance

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The Global Innovation Lab for Climate Finance
Solar Securitization for Rwanda, Lab Instrument Analysis

Explaining the design and impact of solar securitization in Rwanda by the Global Innovation Lab for Climate Finance

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The Global Innovation Lab for Climate Finance
GreenStreet Africa Development Company

GreenStreet Africa develops and aggregates portfolios of distributed solar projects at public health and education facilities for implementation by private IPPs or ESCOs, financed with local capital markets solutions

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Clean Energy Finance

Michoud, B. & Hafner, M.
Financing Clean Energy Access in Sub-Saharan Africa: Risk Mitigation Strategies and Innovative Financing Structures.

This open access book by Michoud, B. & Hafner, M. analyses barriers and challenges associated with the financing of clean energy access in sub-Saharan Africa.

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IEA, IFC
Scaling up Private Finance for Clean Energy in Emerging and Developing Economies

This report by the IEA & IFC details how Emerging Market and Developing Economies (EMDEs) will meet their rising energy needs will be pivotal to their and the world’s energy and climate future.

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OCA & GOGLA
Increasing local financial institution investment in the off-grid solar sector / Lessons from East Africa

This report by OCA & GOGLA concludes that in addition to addressing information gaps, better coordination and derisking mechanisms will be critical to catalyze local bank lending.

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GreenMax Capital Advisors
Local Financial Institutions: A Major Untapped Source of Financing for Energy Access in Africa

This briefing report by GreenMax Capital Advisors on the market assessment conducted for the launch a new Risk Mitigation Facility highlights the untapped potential of local financial institutions to fill Africa’s energy access financing gap. It covers 83 companies and 37 financial institutions across 21 countries in Sub-Saharan Africa.

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KfW
Mobilising private capital for grid-connected renewable power in developing countries – Lessons learnt.

This report synthesises findings from the academic literature and KfW Development Bank’s experience in crowding-in private capital into grid-connected renewable energy projects (>5 MW) in developing and emerging economies.

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USAID
Using DCA’s Loan Guarantee to Increase Energy Access in Africa.

This report by USAID discusses the key characteristics and challenges for lenders that are currently or plan to be active in the off-grid space.

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GOGLA
GOGLA deal database: Investment Data.

The GOGLA deals database captures the investment trends between 2012 – 2022. Headline insights are shared on the data visulisation platform below, and detailed analysis is additionally available to GOGLA Members.

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WBCSD
Pathways to scale finance for renewable energy.

The report by WBCSD details five key findings raised through dialogues between the industry and investment community on what is needed to scale finance for renewable energy, including the importance of engaging new investors to the sector, the potential of new financing vehicles and the unique challenges and opportunities of emerging markets.

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African Development Bank
Report: Exploring the Role of Guarantee Products in Supporting Local Currency Financing of Sustainable Off-Grid Energy Projects in Africa

This report published by African Development Bank in 2020, explores how guarantee can help local currency finance for off-grid clean energy projects in Africa.

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Endev
Improving Sustainability in Uganda’s Solar Market -Linking Off-Grid Solar Energy Companies to a Credit Reference System

This paper by Endev sheds light on the opportunities and risks that could arise for customers, energy firms and others from linking energy companies to a formal Credit Reference System (CRS).

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ESMAP
Funding the Sun: New Paradigms for Financing Off-Grid Solar Companies.

This report by ESMAP elucidates the role of financial innovation in the off-grid solar sector and provides a roadmap for practitioners, financiers, and entrepreneurs navigating capital raises for companies active in the sector.

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IRENA
Renewable Energy Finance Institutional Capital

This brief by IRENA discusses challenges and opportunities of engaging institutional investors in renewable energy finance

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USAID
Accelerating Access To Local Currency Debt Finance For Solar Home System Businesses In Uganda.

This report by USAID outlines the need for local currency debt financing, highlights lessons learned from past and present deals and facilities globally and in Uganda, and provides recommendations for development partners, DFIs, local financial institutions and government on increasing access to local debt for SHS businesses in Uganda.

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GOGLA
Off-grid solar investment trends: Key takeaways from the GOGLA Deals Database 2019 to August 2020.

Read the key takeaways from the GOGLA Deals Database with updated investment data.

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AMDA
How to unlock financing for mini-grids in Africa at scale through multi-stakeholder collaboration

This paper by AMDA presents some of the key insights from the discussions and makes recommendations to spark further action.

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IEA
Financing Clean Energy Transitions in Emerging and Developing Economies

This special report by the IEA aims to address the challenge of mobilising investment and finance to support clean energy transitions in the emerging and developing world.

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IRENA
Global Landscape of Renewable Energy Finance 2020.

This second edition of the Global Landscape of Renewable Energy Finance by IRENA presents key global investment trends between 2013 and 2018 by region and sector, maps the role of different financial instruments and explores key differences between private and public actors.

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UNDP
Derisking Renewable Energy Investment: Off-Grid Electrification.

This report by UNDP expands the DREI framework to private-sector models for solar-battery mini-grids. DREI is an innovative, quantitative framework to assist policymakers to cost-effectively promote private sector investment in renewable energy in developing countries.

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Climate Finance & Energy Attribute Certificates (RECs, D-RECs)

D-REC Initiative
D-RECs- An assessment of the existing market, commercial models, and potential for impact

An assessment of the existing market, commercial models, and potential for impact by the D-REC Initiative.

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D-REC Initiative
D-RECs- An economic assessment

This white paper provides detail on the business case for D-RECs, profiles a typical developer and corporation involved by the D-REC Initiative.

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D-REC Initiative
The D-REC Initiative Overview

Mobilizing corporate leadership to accelerate a just energy transition in emerging markets by the D-REC Initiative.

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Catalyst Offgrid Energy Advisors, Shell Foundation, The Rockefeller Foundation
Unlocking Climate Finance to Accelerate Energy Access in Africa.

The report by Catalyst Offgrid Energy Advisors, Shell Foundation, and the Rockefeller Foundation discusses the need for unlocking climate finance to accelerate energy access in Africa. It highlights the challenges of Africa's electricity access deficit, the prevalence of backup gensets, and the importance of clean cooking solutions for the continent's sustainable development goals.

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The Global Innovation Lab for Climate Finance
Peace Renewable Energy Credit (P-REC) Aggregation Fund

The Peace Renewable Energy Credit (P-REC) Aggregation Fund provides developers with an additional revenue stream, enabling access to term finance

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CFLI
Unlocking Private Climate Finance in Emerging Markets

This Climate Finance Leadership Initiative (CFLI) report highlights the policies that governments in emerging markets can advance — with support from business and the international community — to facilitate the mobilization of private sector investment in clean energy.

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Climate Policy Initiative
Climate Finance Innovation for Africa

This report by the Climate Finance Innovation for Africa provides a framework for how these financial and non-financial solutions can be efficiently deployed to overcome barriers to finance and capitalize climate solutions in Africa.

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Cities Climate Finance Leadership Alliance
Financial Instruments Toolkit

This toolkit by the Cities Climate Finance Leadership Alliance showcases potential financial instruments, highlighting case studies and demonstrating practical applications of instruments in the field.

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GSMA
Digitally Enabled Climate Finance

This report by the GSMA provides emerging insights on the role of mobile and digital technology in accessing and delivering climate finance in low- and middle-income countries (LMICs).

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CFLI
Financing the Low-Carbon Future - A Private-Sector View on Mobilizing Climate Finance

The CFLI shares its expertise in financial markets in Financing the Low-Carbon Future, a report on mobilizing private climate finance at the scale and speed needed to support an orderly transition to a low-carbon economy.

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Pay-As-You-Go (PAYGo))

Persistent
Is It Time for a Solar Receivables FINCO?

This paper by Persistent presents the analysis of one of the key weaknesses in the PayGo industry and provides a prescription for the next stage of the industry’s evolution.

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CGAP
Taming the Strange Beasts: Servicing and the Future of PAYGo November 2018 (Working Paper)

This report by CGAP details the unusual structure of PAYGo solar companies: they combine manufacturing, distribution, and financing to offer a single, intuitive product to the end client.

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CGAP
PayGo Perform - Financial, Operational, and Portfolio Quality KPIs for the PayGo Solar Industry

Joint report by CGAP, GOGLA and World Bank published in 2021, offers the PAYGo solar industry a standardized set of key performance indicators (KPIs).

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Bloomberg
How can pay-as-you-go solar be financed?

This white paper by Bloomberg, published in 2016, outlines solutions to scale-up financing for pay-as-you-go solar.

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USAID
Financial Modeling Tool For Paygo Energy Access Companies

An open source for access to financial modeling tool for pay-as-you-go energy companies by USAID.

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World Bank / ESMAP
PAYGo Market Attractiveness Index.

The PAYGo Market Attractiveness Index from Lighting Global, World Bank & ESMAP provides businesses, policymakers, and practitioners with a flexible and accessible tool that can be used to assess the profitability of a national market for PAYGO energy services.

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USAID
Financial Modeling Tool for Paygo Energy Access Companies

This webpage by USAID contains resources developed by Power Africa's Beyond the Grid (BTG) program to provide valuable market intelligence for off-grid energy stakeholders, including Off-Grid Solar Market Assessments, a Financial Modeling Tool for PAYGO Energy Access Companies, a collection of Off-grid Productive Use of Energy Catalogs, and Additional Resources.

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Green Bonds

CBI
Climate Bonds Initiative Sustainable Debt Global State Of The Market 2020

Sustainable Debt-Global State of the Market report by CBI assesses the scale and depth of the green, social, and sustainability (GSS) debt markets as of the end of 2020. This report is the tenth iteration in our flagship State of the Market series, encompassing established green markets and the expanding social and sustainability labels.

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IRENA
Renewable Energy Finance: Green Bonds

This brief from the International Renewable Energy Agency (IRENA) highlights enormous growth potential for sustainable energy offerings through the green bond market

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Other

UNDP
Cryptocurrency in Africa: Alternative Opportunities for Advancing the Sustainable Development Goals?

This paper by UNDP presents the emerging applications of cryptocurrency in Africa, examine the evolving regulatory landscape and key accompanying risks and suggest potential policy considerations for leveraging this nascent, innovative instrument towards the advancement of the Sustainable Development Goals (SDGs) on the continent.

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KfW
Innovative Development Finance Toolbox

The Toolbox by KfW provides an overview of innovative development finance mechanisms, its terminology and concepts.

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UNIDO
E-mobility & DRE Innovations in Emerging Economies

This publication by UNIDO is dedicated to all companies taking pioneering steps by incorporating DRE solutions to power e-mobility.

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PREO
Charging Ahead – Accelerating e-mobility in Africa

This report by PREO outlines the market opportunity for e-motorcycles to become a driving force in the African e-mobility sector and examines how three PREO-supported companies are successfully addressing some of the barriers, and together are providing the solutions needed to support an enabling ecosystem to accelerate progress across the entire e-mobility sector.

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GOGLA
Off-Grid Solar Market Trends Report 2022

This report by GOGLA finds that off-grid solar expected to electrify 624 million people by 2030 but ‘game changers’ are needed to achieve universal access goals.

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UNEP
Uganda Captive Solar PV Market – Insights Report

This report by UNEP undertakes a detailed analysis of the captive solar PV market in Uganda.

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World Bank
Off-Grid Solar Market Trends Report 2020.

This report by the World Bank measures the pulse of the off- grid solar market. This latest edition includes the most comprehensive sales and impact data available, in-depth analysis on current market dynamics and an outlook on the future of the industry.

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