Global:

The Rapid Rise of Green Bonds (Inter Press Service)

New financing model to promote geothermal energy in Latin America

Director-General of the International Renewable
Energy Agency (IRENA), Adnan Z. Amin.
Credit: Desmond Brown/IPS

Most countries joining the growing list of nations pursuing clean geothermal power have been confronted with a huge financial challenge.

But the director-general of the International Renewable Energy Agency (IRENA), Adnan Z. Amin, said efforts by his organisation to “double renewable energy” and encourage investors have been paying off, including a new effort to promote geothermal in Latin America.

“We have new financing models that are de-risking investment and lowering the cost of capital, which has historically been a barrier to renewable energy,” Amin told IPS, citing financing through green bonds as one recent innovation for renewable energy investment.

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