At the United Nations Sustainable Development Summit 2015, the Member States unanimously adopted seventeen Sustainable Development Goals. Among them, SDG 7 calls for substantial increase of renewable energy use. In addition, under the UN Framework Convention for Climate Change, individual countries - developed and developing alike ？ will work to further encourage and disseminate the use of renewable energy in order to meet their commitment on greenhouse gas reduction. Especially for developing countries, renewable energy development will become a key for sustainable growth for they now face a dual challenge of pursuing economic development while reducing greenhouse gas emission.
 Since participation from various stakeholder is imperative for sustained yet sizable investment, Korea must seek a proactive strategy in pursuing renewable energy projects in developing countries. In doing so, collaborating with various partners, especially the private sector, is extremely important. This study focuses on mobilizing private sector resource for renewable energy projects in Korea’s priority partner countries. While a number of Korea’s priority partners possess considerable potential in renewable energy development, the lack of institutions, market and awareness have hindered development. The study highlights the fact that renewable energy investment is shifting towards the global South and that the main cause of such transition is the favorable regulatory and institutional environment along with significant demand.
In several emerging economies with the highest amount of renewable investment - namely, China, India, South Africa and Brazil - such transition was coupled with governments’ support for technology R&D and subsidies. On the other hand, Vietnam and Indonesia are in the process of actively developing a more conducive environment. That is, laws and regulations, market readiness and awareness regarding renewable energy are being developed. Therefore, we expect rapid progress in relevant investment, development and deployment in these countries in terms of renewable energy in the near future.
 In the following chapters, the study reviews some examples of international support for private sector participation in renewables in the developing countries and makes comparisons with Korea’s experience in supporting renewables. Multilateral and bilateral international development organizations are currently seeking various measures to stimulate investment in renewable energy. One example of the support is that for early stage development of a project. By providing public resource to investigate laws and regulations, market readiness, and other factors related to economic viability of a certain country or region in the very early stage of development, a project developer spends less money on securing a feasible project with which they can appeal to private investors and reach financial closure. The study surveyed the UNEP Seed Capital Assistance Facility and the Scaling-up Renewable Energy Program under the Clean Investment Funds as successful prototypes.
Another line of support can be provided at stage of financial closure, by presenting guarantees or subsidies on renewable energy projects. The study conducts a review of Germany’s Global Energy Transfer Feed-in Tariff (GET FiT) as well as the Accelerating Renewable Energy Investments in Central America and Panama (ARECA) as successful cases of guarantee and subsidies support.
According to our review, all of the examples combined various support measures, such as grants and concessional loans, rather than relying on a same kind of source. The examples also included a wide array of support tools from technical assistance, financial consultation, and capacity building.
 On the other hand, Korea’s experience in official development assistance for renewable energy remains at a basic level, support being given in a rather random and sporadic manner. Therefore, there has not been an overarching program or project aimed at mobilizing private participation. Upon a formal request from the recipient country, the Economic Development Cooperation Fund (EDCF) supports power generation project which mainly comprises of facility construction with some capacity building depending on the project. Korea Energy Agency (KEA) also provides financial support to private energy companies for feasibility studies in developing countries. However, in many cases, projects fail to achieve financial closure despite financial viability due to the lack of financial structure and track-record of companies, most of which are small-to-medium-sized. The lack of mid-to-long-term expectations of financial intermediaries and investors also create barriers for financial closure of projects.
 Reflecting on the experiences of international development organizations and Korean support in renewable energy, this study presents a set of suggestions for renewables investment catalyzed for Korea’s priority partner countries. The first is to enhance overseas profiles of energy companies. Such profiles will include companies’ track-record, financial soundness, as well as utilization of human capital. One concrete example in terms of developing overseas project profile will be to provide financial incentive for companies that partners with SMEs when applying for a project funded by the government, that is, EDCF and KEA. On the other hand, energy companies can take advantage of the networking opportunity provided by public organizations such as the KEA. KEA hosts a regular networking program where the Agency invites government officials from developing countries to participate in networking sessions with Korean energy company representatives.
 Secondly, establishing a consultation facility specializing in overseas renewable energy financing - or infrastructure, in general - can be highly beneficial. Deploying its financial expertise, the facility can run programs to foster financial know-how for energy companies. The facility can also provide consultation on structuring finance models for renewable energy projects, and on reaching financial closure by blending various financial tools and funds. The facility can also host general information sessions and tailored advising events to inform companies about ways to access international funds. In doing so, the facility can utilize accumulated knowledge and network from the EDCF, KOTRA, KITA, Small & Medium Business Corporation, and so on. Consultation on accessing international funds and creating advanced finance structure, as well as fostering financial capability of pioneer energy companies, can bolster successful financial closure for companies and leverage private resource for renewable energy projects in developing countries.
 The third suggestion for catalyzing investment in renewable projects is to create a favorable environment by concentrating official development assistance in related infrastructure and institution. Based on the survey results in Chapter Two, additional study can be conducted regarding the elements for successful resource mobilization. Korea’s development assistance and cooperation can be guided towards a given direction, based on the results. For instance, there can be additional support and attention given to specific areas such as institutional development, power grid connection, and/or capacity development for government officials. With increased capability and financial expertise, the private sector will be able to participate more actively in renewable projects in the global South. It is needless to mention that the possibility of resource mobilization will increase even more with the enabling environment and network in place.