IEA Provides Methodology for Managing Risk in Renewable Energy Projects
15 June 2011: The International Energy Agency's Renewable Energy Technology Deployment (IEA-RETD) Implementing Agreement released a report titled, “Risk Quantification and Risk Management in Renewable Energy Projects,” which aims to facilitate access to financing for renewables by improving risk accounting by those seeking investors for renewable energy projects.
This report was written to assist developers of renewable energy projects in overcoming one of the key challenges in obtaining reasonable financing for renewables: quantifying and managing organizational, political, technical and commercial risks. The report provides a methodology for renewables risk management, consisting of: project definition and requirements; risk identification; risk evaluation; risk control; risk follow-up; and finally, risk feedback, which circulates back to risk identification, etc.
The report also makes a number of recommendations, organized by stakeholder group. [Publication: Risk Quantification and Risk Management in Renewable Energy Projects]