This report assesses the role of public interventions in mobilizing commercial financing for grid-connected solar projects in seven developing countries - Chile, India, Maldives, Morocco, the Philippines, Senegal, and South Africa. Desktop research is complemented by interviews with development professionals, academics, and public officials, and the results of an online survey developed to gain insights and perspective from private developers and other commercial capital providers. The focus is on the ability to attract commercial investors and lenders, without analysis of the financing terms. The scope is limited to utility-scale, grid-connected projects because of the risk concentration inherent to large projects and the importance of large-scale investments in clean energy for the transition toward low carbon development pathways. The analysis puts into perspective the linkages between global and country-specific factors, the complexity and multifaceted nature of the choices that decision makers face, and their rationale for pursuing a specific course of action. The report is intended for policy makers and development partners, including development banks and other donors providing technical assistance in developing countries. It should also be of interest to investment and commercial banks, developers, investors, and other players active in the solar market. For governments and policy makers, the findings are expected to inform decisions on allocating public financing for leveraging commercial investments and inform their decision-making process. For development partners, the report provides a useful perspective on their efforts to attract non-public sources of financing in support of the development agenda
