Advancing Renewable Investment: unlocking private sector potential for a decarbonised future Contact online >>
Advancing Renewable Investment: unlocking private sector potential for a decarbonised future
Today, 28 November 2024, the 2nd Conference on Advancing Renewable Investment came to a close after two days of insightful discussions and exchanges. Over 200 participants, including representatives from ministries, transmission and distribution system operators, renewable energy producers, corporates, regulators, business enterprises, and NGOs, gathered in Ljubljana and online for this landmark annual event, co-hosted by the Energy Community Secretariat and the Slovenian Government.
In his opening remarks, Artur Lorkowski, Director of the Energy Community Secretariat, emphasised the importance of renewable energy as a cornerstone for achieving the decarbonisation goals outlined in the National Energy and Climate Plans (NECPs) of the Energy Community Contracting Parties. He stressed that while state-driven policies are essential, "the private sector plays a pivotal role in bridging the growing gap between renewable energy demand, driven by NECP targets, and the currently available supply."
The Commission also took part in the opening of the event, in which they recalled that “untapping their Renewable Energy potential will allow the Contracting Parties to align with the EU’s 2030 climate targets and bring them closer to EU integration”. Yolanda Garcia Mezquita, Head of Unit from the Directorate General for Energy of the European Commission, highlighted the importance of regional cooperation, crucial to accelerate the clean energy transition, and which should be replicated among Contracting Parties.
This year’s event spotlighted Power Purchase Agreements (PPAs) as key drivers for attracting private sector investments in renewable energy. Market-based support schemes, such as Contract for Difference (CfDs) provide price stability and mitigate financial risks for developers with government backing Meanwhile, PPAs enable long-term commitments between producers and consumers, fostering collaboration between supply and demand -side industries. Panel discussions and presentations explored legal and regulatory aspects of PPAs as well as market integration and flexibility, all critical for scaling up renewable energy deployment and achieving the ambitious 2030 targets.
The event saw the launch of a key new study by the Energy Community Secretariat, which explores both the barriers and opportunities for private PPAs in the region. “The study highlights market liquidity as a significant bottleneck, yet it also reveals the immense potential for scaling up renewable energy investments, provided certain conditions are met,” said Naida Hausmann, Lead of the Renewable Energy Task Force and Senior Renewable Energy Expert at the Energy Community Secretariat.
In addition, the conference addressed the implications of the Carbon Border Adjustment Mechanism (CBAM) on electricity prices, which has an impact in the deployment of PPAs when it comes to market actors’ ability to assess future cost implications. In that context, the conference emphasised tailored solutions and capacity building. The Energy Community Secretariat has been supporting these efforts through online workshops equipping stakeholders with essential knowledge on PPAs.
A key theme was the role of Guarantees of Origin (GOs) in fostering transparency and trust in renewable energy markets. Significant strides have been made in establishing GOs registries across the region, but challenges remain.
Director Lorkowski concluded, "The future of renewable energy in this region is bright, provided we continue to advance market integration and private sector participation."
Secretariat’s conference in Ljubljana sparks renewable investment opportunities
Today in Ljubljana, the Energy Commmunity Secretariat, in collaboration with the Slovenian Government, organized the inaugural Energy Community Conference on Advancing Renewable Investments. The event brought together 110 participants in Ljubljana and 100 online, fostering meaningful discussions, networking opportunities, and knowledge exchange among stakeholders from various sectors. It reflected the proactive efforts of Energy Community Contracting Parties in establishing robust legal and regulatory frameworks, propelling the acceleration of investments in renewable energy. These substantial endeavours align with their 2030 targets and commitment to a green energy transition.
The conference served as a catalyst for fostering collaboration between government representatives and potential investors keen on exploring opportunities within the renewable energy sector. The agenda delved into critical areas such as support schemes, guarantees of origin, renewable energy power purchase agreements (PPAs), self-consumption, and streamlining of permitting procedures for renewable energy projects, showcasing a comprehensive commitment to advancing the renewable energy landscape.
Tomorrow, on 17 November, the Renewable Energy Coordination Group (RECG) will convene in Ljubljana, further fortifying the commitment to advancing sustainable energy solutions within the Energy Community.
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