1PublicDisclosureAuthorizedPublicDisclosureAuthorizedPublicDisclosureAuthorizedPublicDisclosureAuthorized2CONTENTSAcknowledgments.........................................................................................................................................5Abbreviations................................................................................................................................................6Definitionsofsubregions..............................................................................................................................6Executivesummary.......................................................................................................................................7Structureofthereport..............................................................................................................................8Keymessages............................................................................................................................................8Systemicchallengesandopportunities..................................................................................................14Chapter1•Aregionalsnapshotofrenewableenergy..............................................................................16Factorsslowingrenewables’development............................................................................................17Chapter2•Renewableenergydevelopment:Barriersandopportunities................................................29Renewableenergyframework................................................................................................................30Projectdevelopment...............................................................................................................................37Contractualandfinancialissues..............................................................................................................47Governanceandsociallimitations..........................................................................................................51Chapter3•Integratingsolarandwindenergyinregionalpowersystems...............................................57Technicalchallenges...............................................................................................................................57Policy,market,andregulatorysolutions................................................................................................60Beyondregulatoryrefinement:Newmarketsandinstruments.............................................................63References..................................................................................................................................................69Annex1•Statisticsonmarketsoundingparticipants................................................................................72Annex2•Regionalmarketsoundingsummariesandcomparisons..........................................................73Türkiye.....................................................................................................................................................73Caucasus..................................................................................................................................................74WesternBalkans.........