Page 14 - Policy Economic Report - March 2026

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Despite this potential, SAF deployment remains limited. Its high initial set-up and production costs, as
well as supply constraints, pose challenges to financing. While policy ambition and technical
understanding of SAF are progressing, financing implementation and scaling-up remains a key
bottleneck. Compared to conventional renewable energy projects, SAF projects face additional hurdles
such as first-of-a-kind risks, certification requirements, and long-term offtake uncertainty. For many SAF
projects, these challenges can translate into financing and investment-readiness constraints.

Addressing the financing gap

As a response to these financing challenges, the International Renewable Energy Agency (IRENA) in
cooperation with ICAO established the Finvest@ETAF. This initiative applies the project facilitation
approach of the already-existing Energy Transition Accelerator Financing (ETAF) platform to SAF
projects.

Finvest@ETAF provides a structured entry point for translating SAF ambitions into investment-ready
projects by connecting developers with financing and de-risking support under the ETAF platform.

ETAF itself has brought together 14 partners and more than USD 4.15 billion in pledged capital to
support clean energy projects. It provides the foundation on which Finvest@ETAF facilitates SAF
financing through bankability analysis, advisory and technical assistance, as well as access to financing
solutions made available via ETAF partners.

The following instruments are intended to help address key risks that can limit investment in early-stage
SAF projects:

? Blended finance combines public and private funding to help lower project costs and mitigate
financial risks, improving SAF project bankability and investor interest.

? Equity investments provide early-stage capital to address the high upfront costs of SAF facilities,
reducing reliance on debt and supporting project scalability.

? Guarantees and insurance protect against risks related to revenue uncertainty, technology
performance, and supply chains, including political, credit, feedstock, and EPC or operations
risks.

? Technical advisory services support project proponents in improving proposal quality,
strengthening financial and commercial structures, and addressing key readiness gaps.

5. Indian Economy
India’s economic growth

New Series of Gross Domestic Product (GDP) Estimates with Base Year 2022-23

The Ministry of Statistics and Programme Implementation (MoSPI) is releasing the New Series of Annual
and Quarterly National Accounts Estimates with base year 2022–23, which replaces the previous series

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