可再生能源拍卖：风险分配设计

© IRENA 2026 Unless otherwise stated, material in this publication may be freely used, shared, copied, reproduced, printed and/or stored, providedthat appropriate acknowledgement is given of IRENA as the source and copyright holder. Material in this publication that is attributed ISBN:978-92-9260-709-8 Citation:IRENA (2026),Renewable energy auctions: Design for risk allocation,International renewable EnergyAgency, Abu Dhabi. Available for download:www.irena.org/publications For further information or to provide feedback:publications@irena.org About IRENA The International Renewable Energy Agency (IRENA) serves as the principal platform for international co-operation,a centre of excellence, a repository of policy, technology, resource and financial knowledge, and a driver of actionon the ground to advance the transformation of the global energy system. A global intergovernmental organisationestablished in 2011, IRENA promotes the widespread adoption and sustainable use of all forms of renewableenergy, including bioenergy, geothermal, hydropower, ocean, solar and wind energy, in the pursuit of sustainable About the Sustainable Renewables Risk Mitigation Initiative Launched in 2018, the Sustainable Renewables Risk Mitigation Initiative is a multilateral partnership that aimsto help emerging markets and developing countries develop their renewable energy sectors by attractinginvestments and promoting socio-economic benefits through targeted infrastructure. Partners include the EnergySector Management Assistance Program at the World Bank, Agence française de développement, IRENA, the Acknowledgements This report was researched and prepared by IRENA with contributions from Sustainable Renewables Risk MitigationInitiative partners. The main authors are Diala Hawila and Hannah Sofia Guinto (IRENA) with valuable contributionsprovided by Sabine Cornieti, Sedania Gebre and Vincent Schott (World Bank); Adil Hanif and Marianna Wiedenbeck(EBRD); Stephanie Betz and Christoph Kellerman (GIZ); and Wikus Kruger and Olakunle Alao (Power Futures Lab, The report benefited from the review and inputs of IRENA colleagues: Ute Collier (Acting Director, Knowledge,Policy and Finance Centre), Patricia Wild, Faran Rana and Imen Gherboudj, as well as from IRENA TechnicalReviewer, Paul Komor. Editing and production were managed by Francis Field and Stephanie Clarke. The reportwas copy-edited by Emily Youers, with design by Phoenix Design Aid. IRENA would like to thank the Government of Germany via the Federal Ministry for Economic Affairs and ClimateAction for supporting the work that formed the basis for this report. Disclaimer This publication and the material herein are provided “as is”. All reasonable precautions have been taken by IRENA to verify the reliabilityof the material in this publication. However, neither IRENA nor any of its officials, agents, data or other third-party content providers,provides a warranty of any kind, either expressed or implied, and they accept no responsibility or liability for any consequence of use The information contained herein does not necessarily represent the views of all Members of IRENA. The mention of specific companiesor certain projects or products does not imply that they are endorsed or recommended by IRENA in preference to others of a similarnature that are not mentioned. The designations employed, and the presentation of material herein, do not imply the expression of any CONTENTS GLOSSARY.............................................................................................................................. 6ABBREVIATIONS.................................................................................................................... 7 1.INTRODUCTION................................................................................................................12 2.RISKS RELEVANT TO RENEWABLE ENERGY AUCTIONS........................................................14 2.1Overview of investor risks........................................................................................................152.2The impact of typical risk allocation on broader outcomes.............................................. 32 3.AUCTION DESIGN FOR STRATEGIC RISK ALLOCATION..................................................... 35 3.1Auction demand and demand-side responsibilities........................................................... 363.2Location, technology and project specifications................................................................ 423.3Qualification requirements and compliance rules............................................................. 483.4Winner selection..................................................................................................................... 54 4.CONCLUSION AND RECOMMENDATIONS........................................................................71 REFERENCES.............................................................