if sustained this trend could increase the risk of refinancing and pose challenges for the financial viability even of existing projects powerpurchasing agreements may for instance be changed to reflect increased use of refinancing as a result additionally market uncertainty may lead banks to adopt a more conservative stance potentially reducing their portfolio of projects they perceive as risky eg renewable energy and energy efficiency investments and smallerscale projects in general this context may also induce higher loan market concentration all of these factors combined could likely lead to a higher cost of lending with reduced access to longterm loans clean energy infrastructure developers may therefore increasingly have to rely on loans with shorter maturities and thus bear higher refinancing risks