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

Authors

  • 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

DOI:

https://doi.org/10.32479/ijeep.19675

Keywords:

Renewable Energies, Green Financing, GDP per Capita, 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.

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Published

2025-06-25

How to Cite

Puican Rodriguez, V. H., Medina Sánchez, I. H., Quispe Campos, T. E., Tafur Huaman, E., Calixto Arias, E. N., & Salvador Rosado, C. E. (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, 15(4), 545–558. https://doi.org/10.32479/ijeep.19675

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Section

Articles