UNDP-将分布式可再生能源的金融聚合纳入主流（英）-2024.docx

UnitedNationsDevelopmentProgrammeWhitePaperMainstreamingFinancialAggregationforDistributedRenewableEnergyJanuary2024WhitePaper:MainstreamingFinancialAggregationforDistributedRenewableEnergyUNDPUNDPistheleadingUnitedNationsorganizationfightingtoendtheinjusticeofpoverty,inequality,andclimatechange.Workingwithourbroadnetworkofexpertsandpartnersin170countries,wehelpnationsbuildintegrated,lastingsolutionsforpeopleandtheplanet.1.earnmoreatundD.orgorfollowUNDP,TheClimateAggregationPlatform(CAP)TheClimateAggregationPlatformisaGlobalEnvironmentFacility(GEF)fundedflagshipinitiativeofUNDP,whichseekstosupportthestructuringanddeploymentofinnovativebusinessmodelsandfinancialmechanismstoaccelerateenergyaccessandajustenergytransition.Copyright©2024.Allrightsreserved.OneUnitedNationsHaza,NewYork,NY10017,USADisclaimer:Theviewsexpressedinthispublicationarethoseoftheauthor(三)anddonotnecessarilyrepresentthoseoftheUnitedNations,includingUNDP,ortheUNMemberStates.Coverphoto:UNDP/KarinSchermbruckerSuggestedcitation:UNDP(2024).WhitePaper：MainstreamingFinancialAggregationforDistributedRenewableEnergy,NewYork.TheCAPseekstoadvanceandraiseawarenessforinnovativesolutionstomarketbarriersforfinancialaggregationinthesmall-scale,low-carbonenergysector-withthegoaltoincreaseaccesstolow-costfinancingforcleanenergyinemergingmarkets.1.earnmoreat:https:/WWW.undp.org/climate-aggregation-platformQGEFTheGlobalEnvironmentFacility(GEF)isafamilyoffundsdedicatedtoconfrontingbiodiversityloss,climatechange,pollution,andstrainsonlandandoceanhealth.Itsgrants,blendedfinancing,andpolicysupporthelpdevelopingcountriesaddresstheirbiggestenvironmentalprioritiesandadheretointernationalenvironmentalconventions.Overthepastthreedecades,theGEFhasprovidedmorethan$23billionandmobilized$129billioninco-financingformorethan5,000nationalandregionalprojects.AcknowledgementsThedevelopmentofthispaperwasfundedbytheGEF,ledbytheUNDPandpreparedbyexpertsfromTFE.TheUNDPtaskteamresponsiblefortheproductionofthisreportwascomposedofEduardoAppleyardandMateoSalomon.TheTFEteamthatwrotethispaperincludesAndreTroost,Dr.SamDubyandKumbiraiMakanza.Thispaperbenefitedgreatlyfromtheinsightsfrom:AlexWanumeandChrisKanani(WinchEnergy),EricdeMoudt(AfricanFrontierCapital),ChristopherAidunandToukamNgoufanke(PersistentEnergy)andAnshulPatel(Bboxx).UlOperationsandserviceagreement8112Datasharingagreement9IDPurchaseandsaleagreement92241.oanagreement1022Keycomponentsofdrefinancialaggregationtermsheets8ContentsIntroduction41.DefiningDREfinancialaggregation52.TermSheetsforDREfinancialaggregation662.1Introductiontotermsheetsll.lConsiderationsaffectingtermsheetdesign3. CasestudiesofpastandpresentDREfinancialaggregationfacilitiesandtransactions113.1 Bboxxdistributedenergyassetreceivables$500,000pilotinKenya(2015)113.1.1 Transactionstructure123.1.2 1.ookingtothefuture1232WinchEnergy:$16millionmini-gridportfoliofinance(2021)1331lTransactionstructureI33221.ookingtothefutureI333BrighterlifeKenya2:landmarkoff-balancesheetfacility(2022)14311Transactionstructure14321.ookingcothefuture154. DFIsandconcessionalfundsinvolvementinDREfinancialaggregation17COnCIUSion19Introduction1.astyearmarkedthehalfwaypointtowardsthe2030deadlineforachievingtheSustainableDevelopmentGoals(SDGs).WhileconsiderableprogresshasbeenmadetowardstheSDG7targetsoncleanandaffordableenergy,inparticularinrelationtoenergyaccess(7.1),675millionpeopleremainwithoutaccesstoelectricityandafurther2.3billionhavenoaccesstocleancookingsolutions.ITradcinjSDG7:TheEnergyProgressReport.2023(1.ink)InternationalRenewableEnergyAgency(IRENA).2023.(1.iok)JBasedonInterviewsundertakenintheconce×xoftMpper.Basedonthecurrentpaceofprogress,effortsmustbesignificantlyrampeduptoachievetheSDGtargetsby2030.What,smore,althoughcleanenergyisacrucialelementofmostNDCs,moreambitioustargetsareneededtokeepusbelowthe1.5threshold?WeneedtogreatlyenhancethelevelofpublicandprivateinvestmentinsolutionssuchasDistributedRenewableEnergy,toadvancesustainabledevelopmentanddeliverthegoalsoftheParisAgreement.Toachievethis,newapproachesareneededtode-riskinvestmentsandcrowdinnewsourcesofcapital.Financialaggregation,definedinthecontextofthispaperastheaggregationofDistributedRenewableEnergy(DRE)receivables,holdsgreatpromiseinreducingthemismatchbetweenDREfundingneedsandinvestorrequirementsandinturnincreasingcapitaldeploymentinthesector.Whendesignedcorrectlyanddeployedinsuitablemarkets,theseinstrumentscanofferfasterandmoreaffordableaccesstocapital.However,financialaggregationinstruments,inparticularoff-balancesheetonesarecomplex,expensivetosetup(asmuchasUS$2millioninsomeinstances3)andinvolvemanylengthyprocesses-Itcantakeuptotwoyearstocloseatransaction.TheirsuccessfulimplementationdependsonafavourableenablingenvironmentandtheexistenceofasufficientlylargepipelineofDREassetsoftherightcharacteristicsandquality.Atthemoment,onlyahandfulofmarketplayerscanmeetsuc