The complex paperwork needed to advance projects is a major factor behind the high transaction costs facing some developers, said the International Renewable Energy Agency (IRENA) and the Terrawatt Initiative, which are leading the simplification push.
They hope to create standardised project document templates that reflect a “common industry language” applicable around the world.
Henning Wuester, director of Irena’s Knowledge, Policy and Finance Centre said: “Simplifying the negotiation of these contractual documents will help reduce transaction costs, and allow investment in solar PV to advance more rapidly in more markets worldwide.”
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