Clean Energy Policy News
17 October 2016
The Clean Energy Ministerial (CEM) recently welcomed Chile as its newest member. In requesting formal membership to the CEM, Chile outlined its ambitious clean energy goals and the country’s leadership in a variety of clean energy efforts, including the Energy and Climate Partnership of the Americas and Mission Innovation. Even before becoming a member, Chile began actively participating in two CEM initiatives: the Super-efficient Equipment and Appliance Deployment initiative and the Energy Management Working Group. Learn more.
17 October 2016
According to the Institute for Energy Economics & Financial Analysis(IEEFA), while some $130 billion was invested last year in renewable-energy development in the BRICS countries—Brazil, Russia, India, China, and South Africa—about $51 billion more are required if these countries are to meet their commitments to climate-change mitigation policies. The four countries, in all, have announced goals that will require an annual investment over the next few years of $177 billion. IEEFA sees important stakes being taken by development banks that include the New Development Bank (NDB), which is a jointly owned and operated bank funded by the five BRICS nations. IEEFA also notes the importance of private-public partnerships, or “blended finance”. Learn more.
16 October 2016
The UN Foundation’s online Investment Directory, showcasing over a $1 billion investment opportunity in the energy access space, is now open for new submissions and profile updates. The Investment Directory is intended to help highlight a range of investment and financing opportunities presented by the growing number of companies and organizations working in the off-grid energy space and to serve as a starting point for commercial and impact investors interested in exploring the opportunities in this market, and for donors and for analysts focused on tracking the strength of the sector. Learn more.
14 October 2016
A One-stop Shop for Countries to Access Resources for Transforming their National Climate Commitments into Achievable Investments Plans »
October 14, 2016 The Inter-American Development Bank (IDB) and the Inter-American Investment Corporation (IIC) – together, the IDB Group – announced the creation of NDC (Nationally Determined Contributions) Invest, a one-stop shop to help countries access resources needed to translate national climate commitments into investment plans and bankable projects. NDC Invest is a platform comprised of four elements: NDC Programmer, NDC Pipeline Accelerator, NDC Market Booster and NDC Finance Mobilizer. Together, the components aim to enable progress toward both the NDC and IDB lending objectives, as well as toward achievement of the 2015 Paris Agreement and the UN Sustainable Development Goals. Learn more.
12 October 2016
The European Bank for Reconstruction and Development, the Agence Francaise de Development and the European Investment Bank (EIB) have joined hands in strengthening sustainable energy measures in Morocco, with the support of the European Union Neighbourhood Investment Facility. The three financial institutions are providing a €35m financing facility to BMCE Bank of Africa and its leasing subsidiary Maghrebail. The finance line is the third under the Morocco Sustainable Energy Financing Facility, a comprehensive programme for sustainable energy investments through financial institutions. Learn more.
11 October 2016
Until a few years ago, residents of the Cato Manor Township, in Durban, South Africa, suffered from the significant health and safety risks that come from regularly burning fires indoors. Nearly half the homes were using paraffin for cooking and heating, along with other fuels like wood and coal. They had no access to hot water, and they were struggling to pay their power bills. But, thanks to a programme rolled out in 2011, some residents saw their quality of life improve dramatically as the Green Building Council of South Africa and the World Green Building Council set out to retrofit 30 local low-income houses with a range of energy efficiency improvements. Learn more.
10 October 2016
Uganda’s Tororo solar photovoltaic (PV) project has received a $14.7 million senior loan from the Dutch development bank, FMO. Located in eastern Uganda, the plant will be developed and owned under the expertise of Italian firm Building Energy, which will be responsible for constructing and operating the power plant. The bank acted as Mandated Lead Arranger of the $14.7 million facility, of which 50% was syndicated to the Emerging Africa Infrastructure Fund. Learn more.
10 October 2016
As governments focus on implementing their commitments to save energy and reduce carbon emissions under the recently ratified Paris agreement, a new report from the International Energy Agency (IEA) highlights the progress made by energy efficiency policies around the world over the past year, particularly in China and other emerging economies. Learn more.
7 October 2016
South Korea’s KTC Co. signed a deal worth $820 million with Iran’s Investment and Economic Development Committee to build a solar plant and a wind farm in Iran. KTC is to establish the solar plant in the southern city of Fasa and the wind farm in the southeastern city of Zabol. Based on the first agreement between KTC and Iran’s Green Energy Company, the Korean company will finance $220 million to build a 100-megawatt (MW) wind farm in Zabol. Also, $600 million will be allocated to a 200-MW solar plant in Fasa according to the second agreement signed between Shiraz’s Azad University and KTC. Learn more.
7 October 2016
Australian CEFC and Commonwealth Bank Launch $100 Million Energy Efficient Equipment Finance Program »
The Australian Clean Energy Finance Corporation (CEFC) and Commonwealth Bank have launched a $100 million Energy Efficient Equipment Finance program to provide Australian businesses and not-for-profits with lower-cost finance for energy efficiency assets. The program will support business investment in energy efficient and lower emissions vehicles, equipment, machinery and fixtures that meet the CEFC’s investment guidelines. Approved borrowers will gain a 0.7% discount on the bank’s standard asset finance rate on amounts between $10,000 and $5 million, where technologies meet the CEFC’s investment guidelines. Eligible investments include fuel-efficient vehicles, energy efficient lighting and fittings, farm machinery, commercial lighting and rooftop solar panels. Learn more.