The problem
Global clean energy investments have reached $2.4 trillion. But many of the countries with the fastest-growing energy demand and facing the most climate vulnerability are missing out. This is partly due to opaque, overly complex power project contracts. Power Purchase Agreements (PPAs), long-term agreements between private electricity generators and utilities, are essential to secure financing for projects like solar farms, gas plants, and hydropower. But the lack of transparency of PPAs and related contracts is stifling competition and the rollout of new infrastructure.
Relevance
Contracts shape electricity costs, reliability, and the long-term efficiency of power systems. Lack of PPA transparency and data disclosure raises electricity prices, deters investment, and increases national debt risks. Without transparency, governments may sign contracts that burden the public with high electricity costs, investors can’t properly evaluate risks, and markets struggle to operate effectively.
Billion-dollar deals shouldn’t be hiding behind “confidentiality clauses,” especially when your electricity bill keeps going up!
Our approach
The Energy for Growth Hub launched PPA Watch as a global effort to track and score the transparency of electricity contracts. Three years on, we’re excited to announce the latest 2025 PPA Transparency Scores, including expanded country coverage.
The 2025 rankings show wide variance among 23 emerging markets
We score 23 countries using public information across ten criteria, including announcement of the project, disclosure of core contract details, prices, public guarantees, and the award process.
The scores provide a comparative assessment of the public availability of information on power sector contracts. It is not a detailed survey of individual contracts, nor is it intended to judge the contents or benefits of any individual project. (More about our methodology here.)
Key highlights: Transparency gaps persist, but progress is happening
Some countries like Ghana, Kenya and Vietnam have moved up since the last round of scores, showing improved data disclosure while others remain the same.
- Brazil is still the only country scored as Transparent due to its open approach to procurement and by disclosing key details including price, guarantees and the entire award process.
- Most countries are Partly Transparent. India (7), Mexico (7), and Kenya (6) show moderate levels of transparency because information is available on an ad hoc basis rather than through a consistent and systematic process. Notably, Ghana (5.5) and Honduras (7.5) proactively disclose data.
- El Salvador and six African countries are Not Transparent. Ethiopia (3), Uganda (3.5), and Zambia (4) fall into the lowest tier, with minimal disclosure. El Salvador (2.5) and Tanzania (2.5) are at the very bottom.
Explore the interactive global maps
Join the movement for transparent energy contracts
The 2025 PPA Transparency Scores and the interactive map are tools designed to empower policymakers, investors, and citizens to advocate for greater openness in energy contracts. PPA Watch is driving a global push for transparency and standardization of power projects — accelerating access and making markets work efficiently.
Visit PPA Watch to learn more about how secret contracts affect you and your works-and what you can do about it and connect with us at ppa@energyforgrowth.org.