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De-risking solar power investments in Rapidly Developing Countries

Rapidly Developing Countries will account for all of the increase in global carbon emissions by 2035, with the largest share of it coming from power generation. To effectively reduce emissions, power investments have to be re-directed from high-carbon to low-carbon technologies. Solar energy holds a promising potential, and could be the world’s largest source of electricity by 2050. Yet high upfront costs and financing costs discourage solar energy investments in Rapidly Developing Countries.

Using a case study of Morocco’s solar strategy and Ouarzazate Concentrated Solar Power Noor 1 project, the speaker explores the relative importance of domestic institutions and development finance institutions in de-risking solar energy investments as well as lowering financing costs.

Luigi Carafa

Dr. Luigi Carafa is research fellow and head of energy & climate change at the Barcelona Centre for International Affairs (Cidob), as well as affiliated research fellow at the Department of Politics and International Studies, University of Cambridge.

His work focuses mainly on clean electricity in the MENA, energy transitions in Emerging Economies, as well as international climate negotiations. His research interests are in problems of energy policy and finance applied to developing countries. He provided technical advice, contributed or participated to policy processes such as the UNCSD Rio+20, the UfM Mediterranean Solar Plan and the UNFCCC COPs.

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