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IRENA: business case for renewables nearly fully established

Hellisheidi geothermal power plant of Reykjavik Energy, Iceland (source: flickr/ thinkgeoenergy, creative commons)
Francisco Rojas 11 Dec 2014

Green bonds for renewable energy are estimated to reach 40 billion dollars in 2014 showcasing that green power is a growing and successful industry.

One of the main arguments behind the apparent slow growth in geothermal and other renewables its their “inherent” risk. The use of green bonds to leverage said risk is on the rise and one again demonstrates that renewable energy is a viable and profitable business.

In a recent article in IPS, the director-general of the International Renewable Energy Agency (IRENA), Adnan Z. Amin made some remarks regarding the expansion of green energy via green bonds. Quoting from the article, “Amin said green bonds reached 14 billion dollars last year and are estimated to reach 40 billion dollars in 2014 and up to 100 billion dollars next year. “This is changing the expectations of the traditional model of investment where it was always the expectation that developing countries would be asking for multilateral cheap financing to develop their energy sectors,” Amin said.”

This case is no longer valid and renewables are now a force to be reckon with in these developing economies, having established their position.

The same article covers the future objectives that IRENA has and the significant role that geothermal will play in the development of renewable energy in the comoing years, specially in Latin America, after the announcement earlier this week.

To read the full article on detail, please click on the link below.

Source: IPS News