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

Victor Hugo Puican Rodriguez (), Iván Hames Medina Sánchez (), Tito Edinson Quispe Campos (), Erlith Tafur Huaman (), Elizabeth Norma Calixto Arias () and Carmela Elisa Salvador Rosado ()
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Victor Hugo Puican Rodriguez: Universidad Nacional Intercultural Fabiola Salazar Leguia de Bagua, Peru
Iván Hames Medina Sánchez: Universidad Nacional Intercultural Fabiola Salazar Leguia de Bagua, Peru
Tito Edinson Quispe Campos: Universidad Nacional Intercultural Fabiola Salazar Leguia de Bagua, Peru
Erlith Tafur Huaman: Universidad Nacional Intercultural Fabiola Salazar Leguia de Bagua, Peru
Elizabeth Norma Calixto Arias: Universidad Nacional Intercultural Fabiola Salazar Leguia de Bagua, Peru
Carmela Elisa Salvador Rosado: Universidad Nacional de San Martín, Peru

International Journal of Energy Economics and Policy, 2025, vol. 15, issue 4, 545-558

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.

Keywords: Renewable Energies; Green Financing; GDP per Capita; Peru (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:v:15:y:2025:i:4:id:19675

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DOI: 10.32479/ijeep.19675

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