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Greenhouse gas (GHG) emissions in Southeast and South Asia accounted for more than 29 percent of total emissions in Asia and more than 15 percent of worldwide emissions in 2013 (World Resources Institute, 2013). 1 Governments in the region are working to achieve national climate change mitigation targets, reduce air pollution, and meet increasing demands for energy. Leading multinational and Asian corporations have embraced the business case for clean energy (CE). RE100 is a global initiative of the Climate Group and the Carbon Disclosure Project (CDP) that was established in 2014.

USAID/Bangladesh asked the Climate Economic Analysis for Development, Investment, and Resilience (CEADIR) Activity to conduct a situation analysis on climate finance in Bangladesh. The purpose was to assess the policy environment, institutional arrangements and the government’s capacity to access and implement climate change projects; and explore modalities for achieving a functional institutional arrangement for managing climate finance in Bangladesh.

USAID asked CEADIR to analyze recent experiences with renewable energy (RE) reverse auctions in El Salvador, Mexico, and Peru. This report focuses on the policy and regulatory environment, characteristics and results of the auctions, and financing of winning bids. USAID also requested shorter summaries of experiences in Brazil, India, and South Africa. This report is based on interviews with investors and representatives of financial institutions and governmental entities in El Salvador, Mexico, and Peru and secondary information sources.