A seminar on derisking of financing wind power in the Republic of Belarus within the framework of the international technical assistance project “Removing Barriers to Wind Power Development in Belarus” funded by GEF and implemented by UNDP in Belarus was held on May 18, 2017 in Minsk. About 30 independent experts from various organizations, ministries and departments (the Ministry of Environmental Protection, UNDP, the Ministry of Economy, the Ministry of Finance, the State Committee for Standardization of the Republic of Belarus (Gosstandart), etc.), as well as from among international and local experts of the project took part in the event.
The First Deputy Director of the Energy Efficiency Department of the State Committee for Standardization of the Republic of Belarus Viktor Akushko addressed the seminar participants with a keynote speech. The meeting was also greeted by Natalia Klimenko, a Consultant of the Department of Regulation of Effects on the Atmospheric Air and the Ozone Layer of the Ministry of Environmental Protection, expressing gratitude to the audience on behalf of the Ministry for the shown interest in the development of renewable energy. An opening speech and wishes for fruitful work of the seminar on the activation of investment in wind power in Belarus were also expressed by UNDP project coordinator Igor Chulba.
Marina Belous, Project Manager of the UNDP - GEF project “Removing Barriers to Wind Power Development in Belarus”, presented a study on derisking of implementation of wind power projects based on the innovative “DREI” methodology, whose goal is to create a structured and transparent process that clearly defines the contribution of various regulatory instruments to the development of renewable energy. The study aimed at the sustainable development of wind power in Belarus allows us to model state instruments for the most effective attraction of private capital to this sphere. Based on the results of the present study, it is planned to carry out a number of government measures on the derisking of financing wind power, the implementation of which will create significant financial savings when achieving the investment goal of introducing 500 MW of additional capacity in wind power by 2030 in the Republic of Belarus.
In addition, within the framework of the seminar, a round table was organized on the theme “Investments in wind power in Belarus - prospects and challenges”, which highlighted the most acute problems of financing renewable energy. The experts drew attention to the current mechanisms for the allocation of quotas for renewable energy projects, in which the investors' offers are several times higher than the distributed volume of the generating facilities. Noting that the cost of financing renewable energy in Belarus is still quite high, the experts offered their vision of the necessary state instruments and further steps to increase investment in this sector.
The workshop participants noted the great importance of the work carried out within the framework of the project “Removing Barriers to Wind Power Development in Belarus”, as well as other projects being implemented in our country, which contribute to the increasing implementation of the principles of sustainable development and the “green” economy. Marina Belous expressed her hope that the presented report will bring our country one more step closer to get local, affordable and clean energy from the wind.
The version of the report “Derisking Renewable Energy Investment” is posted on the project website in the “Information” section.