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A critical component of the Renewable Energy Programme is support for the design and implementation of renewable energy auctions. These are competitive bidding processes where developers propose projects to supply renewable energy, with contracts awarded on the basis of defined criteria, such as the lowest price. The EBRD helps with the preparation of auction documentation, provides technical, financial and legal assistance during the evaluation of bids, and helps to design the actual auction process. Auctions supported by the EBRD attract credible private-sector bidders, increasing competition, lowering prices and minimising risk of non-delivery.
The Bank’s support for auctions is tailored to the specific market context of each country. Importantly, the support aims to put in place an underlying framework which allows auctions to be scalable and replicable, and which promotes the integration of renewables into electricity markets and systems. This includes supporting changes to primary and secondary legislation, helping to set up new regulatory institutions, advising governments on new regulations on battery storage investment, and designing support schemes for renewable energy providers. The Bank also assists with other ways of attracting investment in renewables, such as private-to-private bilateral contracts between generators and consumers. This systemic approach ensures that the benefits extend far beyond a single auction, fostering an environment that is conducive to long-term growth in renewable energy.