ENHANCING BANKABILITY IN RENEWABLE ENERGY PROJECTS THROUGH EFFECTIVE RISK MANAGEMENT

To determine the outcome of risk management on the bankability, political /regulatory risk including environmental risk, technology risk and financial risk on the bankability of green energy investments, using survey responses to measure their perceived importance. A survey was conducted in Serbia, in 2024 involving 242 Serbian companies. The research was carried out in collaboration with the Serbian Association of Employers. Twelve factors were identified, three for each variable. Business owners and managers, as the primary respondents, evaluated predefined statements using a Likert scale. Correlation analysis is employed to examine the strength and direction of the relationships between selected variables, helping to identify whether, and to what extent, changes in risk that the bankability of renewable energy projects is significantly influenced by the selected risk factors—namely regulatory, financial, and technological risks. This study factors are associated with variations in the bankability of renewable energy projects. The results revealed provides a meaningful contribution to the existing literature on renewable energy by offering empirical insights into the factors influencing project bankability, with a specific focus on the Balkan region and Serbia. It addresses a regional gap by highlighting how risk management practices impact investment viability in the context of emerging renewable energy markets.