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Evaluation of Green Financing Mechanisms in Renewable Energy Projects and their Impact on Economic Growth in Peru

Author

Listed:
  • Puican Rodriguez, Victor Hugo

    (Universidad Nacional Intercultural Fabiola Salazar Leguia de Bagua, Peru)

  • Medina Sánchez, Iván Hames

    (Universidad Nacional Intercultural Fabiola Salazar Leguia de Bagua, Peru)

  • Quispe Campos, Tito Edinson

    (Universidad Nacional Intercultural Fabiola Salazar Leguia de Bagua, Peru)

  • Tafur Huaman, Erlith

    (Universidad Nacional Intercultural Fabiola Salazar Leguia de Bagua, Peru)

  • Calixto Arias, Elizabeth Norma

    (Universidad Nacional Intercultural Fabiola Salazar Leguia de Bagua, Peru)

  • Salvador Rosado, Carmela Elisa

    (Universidad Nacional de San Martín, Peru)

Abstract

This article examines the impact of green bonds on renewable energy generation and economic growth in Peru through an empirical analysis that incorporates robust econometric models, including OLS, GMM, and VAR, along with Johansen cointegration tests. Through these approaches, we assess the influence of green bonds on the energy sector, identifying how these financial instruments have boosted renewable energy projects and contributed to sustainable economic growth. The findings reveal a positive and significant relationship between green bonds and the expansion of renewable generation, further highlighting the crucial role of fiscal policies and regulatory frameworks in fostering these instruments. This analysis also identifies challenges, such as the need to strengthen institutional capacity and infrastructure to optimize the use of green bonds. This study provides a comprehensive perspective on the relevance of green bonds in the transition to a low-carbon economy in Peru, serving as a basis for future sustainable energy policies.

Suggested Citation

  • Puican Rodriguez, Victor Hugo & Medina Sánchez, Iván Hames & Quispe Campos, Tito Edinson & Tafur Huaman, Erlith & Calixto Arias, Elizabeth Norma & Salvador Rosado, Carmela Elisa, 2025. "Evaluation of Green Financing Mechanisms in Renewable Energy Projects and their Impact on Economic Growth in Peru," International Journal of Energy Economics and Policy, Econjournals, vol. 15(4), pages 545-558, June.
    • Handle: RePEc:eco:journ2:v:15:y:2025:i:4:id:19675
    DOI: 10.32479/ijeep.19675
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