Bangladesh-based Beximco Group has said it will raise nearly US$400 million in Islamic bonds to finance two solar PV power plants totaling 230 MW in the country’s northern districts.
The government will add modules and inverters to the list of imported products which must meet minimum standards. Charge controllers and batteries are already subject to such requirements.
A group of scientists in Bangladesh has developed a model to determine the optimal cleaning schedule for a PV installation at any location in the globe, requiring only the average insolation and soiling rate for a given site to make the calculation. The study also draws new conclusions regarding the influence of sandstorms and rain on soiling, and aims to be among the first studies to paint a global picture of soiling trends by region.
The Bangladeshi government is focusing on the development of solar and wind power as it seeks to boost renewable energy generation in the country. Clean energy proponents say the strategy will lead to lower government subsidies for electricity generation.
The new financing scheme is aimed at helping factories to upgrade, acquire renewable energy-related machinery and technology and increase environment-friendly production in an effort to achieve sustainable development goals.
The private-sector arm of the World Bank, which claims to leverage $3 of its own capital and $8 from third parties for every dollar invested in its blended finance funds, has attempted to quantify what devoting Covid recovery funds to green investment would mean for emerging economies.
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.
The facility was jointly funded by the Asian Development Bank and German state development lender the KfW.
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