Clean Energy Policy News
23 September 2016
Energy ministers from across the Association of Southeast Asian Nations (ASEAN) met today at the 34th ASEAN Ministers on Energy Meeting to accelerate efforts to boost renewable energy deployment in the region. ASEAN Member States are currently on track to source 17 per cent of their combined total primary energy supply from renewables by 2025. Learn more.
22 September 2016
The business case for solar photovoltaics (PV) in Africa is stronger than ever thanks to rapidly declining technology costs, according to a new report released today by the International Renewable Energy Agency (IRENA). Solar PV in Africa: Costs and Markets, estimates that installed costs for power generated by utility-scale solar PV projects in Africa have decreased as much as 61 per cent since 2012. Today, installed costs for these projects are as low as USD 1.30 per watt in Africa, compared to the global average of USD 1.80 per watt. Learn more.
20 September 2016
Green for Growth, an international fund for renewable energy and energy efficiency projects operating in Southeast Europe, European Eastern Neighborhood Region, and in the Middle East and North Africa, will start operations in the local market, according to Lachlan Cameron, Green for Growth’s Senior Officer in Energy Finance. The fund’s budget for the three regions has reached $370 million this year. The eligibility criteria for applying for financing from Green for Growth (GGF) are having a minimum 20 percent reduction in primary energy consumption. They also include a minimum of 20 percent reduction in carbon dioxide, and the promotion of renewable energy. The financing instruments are medium- to long-term senior loans, subordinated loans, letters of credit, guarantees, and mezzanine debt instruments. Learn more.
18 September 2016
The Inter-American Development Bank (IDB) has granted $103.4 million financing to Nicaragua to enhance its geothermal energy generation capacity while improving power transmission system. IDB will fund $51.4 million for the development of the geothermal energy in the country while am additional $25 million will come from the Korea Infrastructure Development Co-financing Facility in Latin America and the Caribbean, which is managed by IDB. Learn more.
12 September 2016
As one of the biggest beneficiaries of the $9.7 billion US initiative which seeks to double electricity access in Africa, six power projects will be developed across several sites in Kenya following signing of deals between the United States Trade and Development Agency (USTDA) and Kenya. The projects will add 361 megawatts of clean energy to Kenya’s national grid. They include a grant agreement to support the development of a 10-megawatt (MW) solar photovoltaic (PV) project in Gitaru, a 40 MW solar PV power plant in eastern Kenya at Nyakwere Hills and a Solar Microgrid Solutions for Island and Village Electrification at eight locations across Kenya with a combined 1.5 MW of new power generation capacity. Learn more.
11 September 2016
India’s largest thermal power generation company, NTPC Ltd will invest $300 million raised as Green Masala Bonds for generating 10,000 MW of solar power by 2022. This is to support India’s mega renewable energy plans to add 175,000 MW by 2022. Masala Bonds are rupee-denominated Bonds issued to overseas buyers, with their green versions aimed at renewable energy projects in India. The company had raised $300 million (Rs 2,000 crores) with a 7.48 per cent annual yield with the new bond listing earlier this month. Learn more.
8 September 2016
The Private Financing Advisory Network (PFAN), a clean energy financing advisory group, has announced that it had passed the $1 billion mark in total financing raised for clean energy projects in developing countries. The multilateral public-private partnership, currently transitioning to a new governance and hosting arrangement within the United Nations Industrial Development Organization (UNIDO) and the Renewable Energy and Energy Efficiency Partnership (REEEP), Vienna, Austria, has now raised total financing of $1.2 billion. The financing is being used to build, install and operate 701 megawatts of clean power for 87 projects across Africa, Asia and Latin America. These projects—which include solar and wind farms, biomass and biogas power plants, small hydro generation, decentralized renewable energy minigrids for underserved areas and others—together translate to over 2.6 billion tons of carbon dioxide (CO2) that would otherwise be released into the atmosphere annually. Learn more.
7 September 2016
The Clean Energy Ministerial’s Super-efficient Equipment and Appliance Deployment (SEAD) Initiative has announced its sixth international competition to recognize the world’s most energy efficient industrial and outdoor lighting products. Learn more.
2 September 2016
Artesian Venture Partners and the Australian Government's Clean Energy Finance Corporation today launched a USD 14.9 million clean energy seed fund. The fund will seek to invest in 30 to 50 start-ups over its four- to five-year investment period. Learn more.
25 August 2016
Nacional Financiera, a Mexican development bank, announced that it would issue up to 2 billion pesos ($109 million) in green bonds, marking the country’s first such issuance in the local market. Nacional Financiera will sell the seven-year green bonds later this month to raise money for clean power generation projects in the states of Puebla and Nayarit. Learn more.