IFC anchors green bond for 5 GW of renewables in east Asia and Pacific
World Bank sister organization the IFC has made a $75 million commitment to a green bond recently issued by Philippines based developer AC Energy. Vietnam’s sub-standard financial sector performance has prompted the Asian Development Bank to suggest green bonds could best leverage the country’s renewable energy targets.
Cambodia’s 100 MW National Solar Park project moves forward
The Asian Development Bank, which is backing the plant, is seeking project consultants. If built, the solar park would improve the country’s limited power supply and bring technical benefits to the national grid.
Bangladesh prepares plans for two floating solar plants
Backing from the Asian Development Bank will help a 50 MW project get off the ground – and onto the water – in Chittagong, and a developer has been lined up to install solar on a stretch of the Padma river.
ADB invests $155 million in Thai green bonds
The bank continues its involvement in Thailands largest IPP B.Grimm, which is set to grow its renewable energy portfolio. According to ADB, the green bond proceeds will go to nine operational solar PV plants with a cumulative rating of 67.7 MW, and 30.8 MW that are currently still under construction.
Funding the key obstacle to renewables in Asia
Banks categorize renewable energy projects as risky and believe they offer lower rates of return than fossil fuel schemes, making them reluctant lenders.
ADB finances its first utility-scale PV plant in $160 million deal
Asia’s largest IPP receives funds to develop renewable energy assets in line with Indonesia’s plans to increase renewable generation to 23% by 2025. The ADB’s support for PV at this scale is novel and could help overcome financing gaps that have hindered PV development in emerging nations
ADB finances Nepal’s largest wind-solar hybrid system
What has been described as Nepal’s largest wind-solar hybrid power system has been switched in the Hariharpurgadi village in the Sindhuli district. The Asian Development Bank (ADB) financed and supported the project.
Global Environment Facility along with ADB will provide $454 million funding to EESL clean energy projects
Energy Efficiency Services Limited EESL’s projects, under one of the largest funding by Global Environment Facility (GEF) to date, will mitigate 60 million tons of CO2 emissions. UN Environment’s ‘District Energy in Cities’ initiative already identified $600 million of energy efficiency projects across five cities in India.
GPP moves forward on 225 MW in Cambodia
Global Purify Power (GPP), a Phnom Penh-based developer backed by a group of Southeast Asian investors, has started building the first 15 MW phase of a planned 225 MW solar rollout in Cambodia.
ADB proposes new approaches to financing energy projects
Governments of cash-strapped developing nations should start exploring a range of innovative financing solutions to support the development of environment-focused infrastructure projects such as financially bankable solar installations, the Asian Development Bank (ADB) says in a new report.
