The facility was jointly funded by the Asian Development Bank and German state development lender the KfW.
The development lender has followed up a $600 million loan for distribution infrastructure in eastern Indonesia with a $430 million credit line for installations in India.
Raach Solar and its Power Utility Bangladesh Ltd local partner have landed two contracts to supply more than 700 pumps in the north-western Bogra district, with the Asian Development Bank footing the bill.
The government in Dhaka hopes plans for the Spectra Solar Project, and the international backing for it, will help showcase the attractiveness of solar investment in the country for private sector money.
The government of the Federated States of Micronesia wants to increase power generation capacity on the islands of Yap and Kosrae.
The Asian Development Bank says developing countries in Asia and the Pacific should consider developing their own solar industry supply chains as the Covid-19 pandemic has exposed their over-reliance on China to carry through the energy transition.
As the sector continues to grow rapidly, delays in manufacturing scale-ups, difficulties sourcing raw materials and a separate path taken by the electric vehicle sector could all chuck ‘sand in the gears’, according to analyst Wood Mackenzie.
The government is planning to introduce a procurement regime this year which the Institute for Energy Economics and Financial Analysis says could drive the price of clean electricity as low as PHP3/kWh. It is thought projects which missed the feed-in tariff scheme deadline will be eligible to compete in the auctions.
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