Achieving global goals for access toenergy and mitigation of climate change will require aquadrupling of present levels of solar photovoltaic (PV)generation in the developing world by 2025 to reach around950 gigawatt (GW)1. This represents an investment of morethan US$500 billion in new solar PV generation alone. Toreach this objective, large amounts of private funding willhave to be unlocked to complement the limited publicfinancing available. Yet most developing countries stilllack a pipeline of bankable solar projects for considerationby the private sector. To develop one, countries must take aseries of key steps to tackle critical risks perceived bythe private sector while also minimizing risks for thepublic sector. The World Bank– Energy Sector ManagementAssistance Program (WB-ESMAP), in partnership with, AgenceFrançaise de Développement (AFD), International RenewableEnergy Agency (IRENA) and International Solar Alliance (ISA)developed the Solar Risk Mitigation Initiative (SRMI or “theInitiative”) to address these challenges. SRMI aims tosupport countries in developing sustainable solar programsthat will attract private investments and so reduce relianceon public finances.