Developing an adequate sustainable energy supply in developing countries is a major challenge for the global community. Recently, a large number of organizations and enterprises have been supporting technological development, carrying out advocative actions, and offering finance for renewable energy. Concomitantly, there have been strong calls to improve coordination in this field. This article elaborates on the importance of institutional opportunities not only to favor coordination, but also to contest common wisdom shaping energy policies and specific project features at a given time. The result would be a more flexible renewable energy “governance dynamics” to provide the institutional framework for private actors and the interaction with public entities. Thus, three dimensions of global governance are analyzed: coordination, contestation, and the resulting process of collective/interactive regulation.