Clean Energy Policy News

15 December 2016
The Board of Directors of the African Development Bank (AfDB) has approved a financing package of USD 100 million, comprising USD 50 million equity and USD 50 million convertible senior loans, to seed the Facility for Energy Inclusion, a pan-African renewable energy debt fund. The investment, which is expected to catalyze energy access for an estimated three million people, is rooted in the bank's New Deal on Energy for Africa and increasing global recognition of the importance of energy access in Africa. Learn more.
15 December 2016
Under the framework of cooperation between the governments of India and Germany, KfW Germany is providing a soft loan of euro 1 billion. Intrastate transmission schemes under “Green Energy Corridors” are to be funded as 20% equity of the state government, 40% grant from a National Clean Energy Fund and 40% soft loan, whereas, the inter State transmission schemes are to be funded as 30% equity by PGCIL and 70% as soft loan. Learn more.
14 December 2016
Renewable power has seen a dramatic expansion in recent years thanks to sharply falling costs. But, this growth has raised a new challenge for power-system operators and regulators, as wind and solar PV have sometimes been deployed before the power system was ready to handle such variable supplies. A new IEA publication, Next Generation Wind and Solar: From Cost to Value, describes the root of this challenge and highlights possible solutions. Learn more.
12 December 2016
Microsoft co-founder Bill Gates and a group of high-profile executives are investing $1 billion in a fund to spur clean energy technology and address global climate change a year after the Paris climate agreement. The fund seeks to increase financing of emerging energy research and reduce global greenhouse gas emissions to help meet goals set in Paris, according to a statement by the investor group known as the Breakthrough Energy Coalition. Learn more.
30 November 2016
The International Smart Grid Action Network (ISGAN) has been busy recently. A recent collaborative event series, organized by ISGAN and the 21st Century Power Partnership (21CPP), focused on Mexico’s path towards smart grids and grid modernization. Learn more.
25 November 2016
At the recent COP 22 in Morocco, USAID announced $4 million funding to eight companies that are revolutionizing household solar power across Africa through the Scaling Off-Grid Energy: Grand Challenge for Development scheme. The funding is significant because it concerns a risky fragment of Africa’s solar energy. USAID added that the platform provides seed funding to solar start-ups to support geographic expansion throughout Africa, test new business models and tap into private and public financing, and that the new $4 million fund is expected to create up to 120,000 additional connections in off-grid communities. Learn more.
25 November 2016
One of India’s leading independent power producers in the renewable energy sector—ReNew Power Ventures Limited—has raised funds after issuing green bonds. According to a press release issued by ReNew Power Ventures, non-convertible debentures worth Rs 500 crore (US$74 million) were issued to investors. The bonds issue has been certified by the Climate Bonds Initiative. The funds raised through the green bonds will be used exclusively for setting up two wind energy projects in the state of Madhya Pradesh. Learn more.
25 November 2016
Three Loan Agreements to support Ghana's renewable energy agenda and strengthen the financial management capacities of the Ghana Revenue Authority and the Ghana Audit Service have been signed in Accra. The agreements, involving a total amount of 40.82 million euros (approx.176 million GH¢, 43.51 USD), are the Ghana Audit Service Infrastructure Project costing 13 million euros (approx. GH¢ 56 million, 13.86 ,million USD), the Ghana Revenue Authority Information Technology Training Institute project costing 5 million euros (GH¢ 21.5 million, 5.33 million USD), and a Renewable Energy Programme—Photo Voltaic Project—at the cost of 22.82 million euros (approx. GH¢ 98 million, 24.32 million USD ). The German government, through Kreditanstalt Fur Wiederaufbau (KfW), Germany's leading development bank, is funding the three projects. Learn more.
23 November 2016
The European Bank for Reconstruction and Development (EBRD) and European Union (EU) are stepping up their support to the sustainable use of resources in Kyrgyzstan by launching the next phase of the Kyrgyz Sustainable Energy Finance Facility. The EBRD offers US$ 35 million in loans to local partner banks for on-lending to both local residents and small and medium-sized enterprises, while the EU supports these investments with more than US$ 9.7 million in grants. Learn more.
23 November 2016
The European Bank for Reconstruction and Development (EBRD) and the Union for the Mediterranean (UfM) have teamed up to mobilize up to EUR 834 million (USD 892.86 million) in financing for the development of private renewable energy projects in Egypt, Jordan, Morocco and Tunisia. Financing will be accompanied by targeted technical cooperation support for the implementation of renewable energy projects in the region that aim to avoid 780,000 tonnes of CO2 emissions annually. Learn more.