This session will explore new business models and approaches in accelerating the update of renewable energy using a range of different market-based mechanisms. A speaker from the USAID Vietnam Low Emission Energy Program (V-LEEP) will describe the work of the progam in developing and reviewing DPPA mechanism in Vietnam. Participants will learn about the current status of DPPAs in Vietnam and gain valuable lessons for designing and deploying similar mechanisms in other Southeast Asian countries. The discussion will then shift to the role of technology in advancing renewable energy through competitive selection processes. A speaker from the USAID Energy Secure Philippines (ESP) how ESP has provided support in the first green energy auction (GEA) process, highlighting its success in increasing the share of renewable energy in the energy mix. A speaker from the I-REC Standard will delve into the bridging role of renewable energy certificates (RECs) between policy and project development. Participants will gain an understanding of how RECs can be utilized to finance renewable energy projects and how they interface with domestic policies and market instruments. Finally, a speaker from the International Finance Corporation (IFC) will explore the global trend of using auctions to competitively promote and procure renewable energy technologies. The focus will be on large-scale solar photovoltaic (PV) and battery energy storage system (BESS) auctions in Southeast and East Asia.