Finance

World Bank arm the International Finance Corp has now extended almost €76 million of credit into two sustainable lending facilities launched via Raiffeisen Bank.

The holders of $500 million worth of senior notes which were not settled in late January have accepted the polysilicon manufacturer’s plan to issue fresh three-year investments, after a meeting in Bermuda on Friday.

Private sector fossil fuel spending on exploration is drying up just as modest rises in clean energy investments are being observed. With stock market investors increasingly embracing renewables, the IEA has observed positive signals in its latest energy investment report, but warned we are still doing far too little to keep global heating at bay.

The Norwegian renewables business said the PPA-linked generation capacity is part of a wider, $1 billion complex which will feature 540 MW of solar project capacity and 225 MW/1.14 GWh of battery storage.

A webinar held to discuss the role of donor funding in the African energy sector was told the U.S. president has ambitious plans to ramp up donations to developing economies – provided he can get Congress on side.

Local lawsuits are reportedly set to cost the body set up to purchase clean power in Ukraine more than €24 million already, after the decision by the government in August to retroactively reduce FIT payments. Lithuanian clean power developer Modus Energy is preparing for its own suit, citing Ukraine’s international treaty obligations.

With the nation among the world’s top ten greenhouse gas emitting states, energy analysts from three policy advisories have spelled out how Jakarta could hit net zero by mid century rather than 2070, as currently planned. However, the energy transition would require uncharacteristically long term thinking.

The global off-grid solar appliance market began an uneven recovery from the worst ravages of the global pandemic in the second half of last year, according to market body GOGLA, but more finance and policy support must be made available to have any chance of achieving universal electricity access this decade.

The trade body has highlighted a lack of explicit PV industry support in EU member states which already host domestic manufacturers, such as Germany, France, Austria, Belgium and Lithuania, and says the focus on green hydrogen could exacerbate the solar trade deficit with Asia.

Companies can apply for incentives to set up gigawatt-scale solar factories in India. Applications can be submitted until June 30 and the list of successful recipients will be announced on July 26, with letters of award to be issued four days later.