Bangladesh mandates 2% of loans issued must be for green projects
Some 15% of the finance disbursed must fit the wider definition of being ‘sustainable’ and banks and other lenders have been warned penalties will be applied for non compliance.
GCL dilutes stock as senior note deadline approaches
Parent company hopes to raise $535 million from the move with $500 million worth of three-year senior notes owed by its solar project business due to mature on January 30.
EU-China Comprehensive Agreement on Investment opens manufacturing options, dodges forced-labor issues
The European Commission has finalized its long-anticipated investment agreement with China. While some renewable energy businesses might benefit from improved investment security, IP protection and access to legal remedies in China, the Commission did not address the issue of Uyghur forced labor in China. As a majority block in the European Parliament had previously demanded from the Commisison to develop a firm policy to end forced labor in China, there is reason for doubt that the agreement as it stands will be adopted by the EU Parliament.
Total corporate funding into solar sector rose 24% in 2020
Despite a slow start and a downturn in venture capital and private equity funding, total funding saw a significant rise, including the largest amount of projects acquired in a single year to date and the largest amount of securitization financing ever in a year.
Saudi Arabia commissioned no solar projects last year
Plunging regional solar tariffs reportedly prompted attempted renegotiations of agreed solar power prices with the result the kingdom made no progress towards its renewable energy goals in 2020.
Indian reliance on polycrystalline tech production leaves it trailing China
Polycrystalline PV technology, which is seeing its market share tumble on the global stage, still dominates India’s small solar manufacturing base and is emblematic of the R&D shortfalls in the sector, according to a survey of the state of the industry.
Mini grids grant could drive 80 MW of new capacity in Africa
A new fund established by the African Development Bank could attract $650 million of private money into the sector, according to the lender.
Thai commercial solar gets a $50m uplift
Bangkok-based solar developer Constant Energy has secured a THB1.5 billion loan from TMB Bank to finance its commercial and industrial operations.
Solar among the options as Moldova gets €5m credit line
The loan will be supplied by the EBRD and includes €1.25 million of concessional lending provided by the global Green Climate Fund.
World Bank lends $200m for South African renewables
The private sector arm of the multilateral development bank has offered a $200 million credit line to Nedbank, the first commercial bank in South Africa to offer a green bond, which it did on the Johannesburg Stock Exchange in 2019.
