Clean Energy Policy News

15 December 2016
Adnan Z. Amin, Director-General of the International Renewable Energy Agency met today with H.E. Abdel Fattah el-Sisi, President of Egypt, in Cairo. They discussed opportunities for accelerated renewable energy deployment in Egypt as well as cooperation between Egypt and IRENA. Learn more.
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.
15 December 2016
Just months after Victoria’s state Labor government became the first government in Australia to issue its own green bonds, Victoria’s Monash University has become the first university in the world to issue a certified climate bond, raising more than $218 million to fund sustainable development in the tertiary education sector. The green bond, which was issued in the U.S. private placement market, was certified by the Climate Bond Initiative and has a Green Bond accreditation from Moody’s Investor Services. It is structured to provide the market with investment options in US and Australian dollars over 15 years, 17.5 years or 20 years. 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
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.
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.