A conceptual framework for optimizing solar power plant development and financing in emerging economies

Olakojo Yusuff Ogunsola 1, Yetunde Adenike Adebayo 2, Ikiomoworio Nicholas Dienagha 3, Nwakamma Ninduwezuor-Ehiobu 4 and Zamathula Sikhakhane Nwokediegwu 5, *

1 Axxela Group, Lagos, Nigeria.
2 Independent Researcher, UK.
3 Shell Petroleum Development Company, Lagos Nigeria.        
4 Independent Researcher, Canada.
5 Independent Researcher, Durban, South Africa.
 
Review
Open Access Research Journal of Multidisciplinary Studies, 2021, 01(02), 100-107.
Article DOI: 10.53022/oarjms.2021.1.2.0029
Publication history: 
Received on 25 July 2021; revised on 26 August 2021; accepted on 29 August 2021
 
Abstract: 
The growing energy demands and environmental challenges in emerging economies necessitate the adoption of sustainable energy solutions. With its abundant availability and declining costs, solar power offers a promising alternative to traditional energy sources. This paper explores a conceptual framework to optimize solar power plant development and financing in these regions. It highlights the role of technological advancements, innovative infrastructure designs, and scalable solutions in enhancing project viability. The discussion also emphasizes the importance of policy and regulatory frameworks in incentivizing solar energy investments, addressing challenges, and aligning national goals with global energy objectives. Furthermore, financial models, including innovative mechanisms and public-private partnerships, are examined for their potential to attract stakeholders and mitigate risks. Practical recommendations for policymakers, investors, and developers underscore the need for a collaborative and multi-faceted approach to realize the transformative potential of solar energy. By addressing these critical aspects, this paper aims to contribute to the advancement of solar energy adoption and the broader sustainability agenda in emerging economies.
 
Keywords: 
Solar Energy; Emerging Economies; Renewable Energy Financing; Policy Frameworks; Public-Private Partnerships; Infrastructure Optimization
 
Full text article in PDF: 
 
Copyright information: 

Copyright © 2021 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0