The project will install 125 mw of advanced BESS, making it among the largest battery storage systems globally. The system will include a battery energy management system enabling it to be charged entirely by renewable electricity.
The project is expected to come in at $114.95 million, of which $3 million is co-financed by a grant from ADB's High-Level Technology Fund, financed by the Government of Japan. The Mongolian government will provide $11.95 million toward the cost of the project, which is due for completion in September 2024. (Source: Asian Dev. Bank, April, 2020)Contact: Asia Development Bank, Takehiko Nakao, Pres. +63 2 632 4444, www.adb.org
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Participants in the planning process include: Alternative Energy Development Board (AEDB), Small and Medium Enterprises Development Authority (SMEDA), Punjab Bio Energy Company Limited (PBECL), SBP Banking Services Corporation (SBP-BSC), Asian Development Bank (ADB), Zarai Taraqiati Bank Limited (ZTBL), Ministry of Food Security and Research, SAARC Energy Center (SEC), Asia Foundation, Punjab University, DESCON and Ali Engineering.
The proposed cluster is intended to act as an easily accessed shared knowledge and data repository for biomass stakeholders and to promote biomass and green energy business opportunities.
(Source: The Express Tribune, September 3rd, 20190 Contact:
National University of Science and Technology, www.nust.edu.pk; US-Pakistan Centre for Advanced Studies in Energy, +92 91 9217480, www.uspcase.asu.edu
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The solar plant is expected to generate about 27.5GWh per year of electric power for the country's grid. The project will also add significantly to the country’s share of renewable energy in the total installed power generation capacity between 4.5GW and 5GW by 2032.
(Source: ADB, 21 May, 2019)Contact: Asia Development Bank, Takehiko Nakao, Pres. +63 2 632 4444, www.adb.org
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Speaking at the ADB's 52nd annual meeting, NAKAO noted that climate change is among the six key areas ADB will prioritize in the implementation of its Strategy 2030.
Nakao pledged the ADB would provide a wide range of assistance for countries that are the most vulnerable to climate change including
increased investment and technical assistance to $5 billion in protecting the region's oceans by 2024.
(Source: Asia Development Bank , Eleven Media Group, 12 May, 2019) Contact: Asia Development Bank, TakehikoNakao, Pres. +63 2 632 4444, www.adb.org
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The report notes that the demand for ADB assistance continued to grow in 2018. New commitments included $21.6 billion in loans, grants and investments from ADB's own resources, exceeding the target of $19.71 billion and up 10 pct from 2017.
The Manila-headquartered ADB committed several projects in India, including in Bihar, Himachal Pradesh, Madhya Pradesh, Karnataka, Tamil Nadu, Assam and Odisha.
The report also noted that in India, ADB provided a USD 100-million loan to Ostro Kutch Wind, a renewable energy company owned by investment funds under the management of Actis Capital, for constructing and operating a 250-megawatt wind power project in Gujarat.
Among others, it also provided USD 30 million in equity and USD 20 million in debt security to Annapurna Finance, a microfinance company.
In March 2018, ADB signed a cooperation arrangement with the International Solar Alliance, headquartered in India, to promote solar energy deployment across Asia and the Pacific, particularly in South Asia.
The alliance's major objectives include global deployment of over 1,000 gigawatt of solar generation capacity and investment of over USD 1 trillion into solar energy by 2030. (Source: ADB, Economic Times, 16 April, 2019)
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The study notes an estimated $1.7 26 trillion per year must be invested in climate-change mitigation and adaptation measures and to construct disaster-resilient infrastructure in developing Asia.
(Source: Asian Development Bank, ANI Siasat Daily, April, 2019)Contact: Asian Development Bank, +63 2 632 4444, www.adb.org
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Proceeds from the bond offering are earmarked for AC Energy's low-carbon energy projects in the Asia-Pacific region. The bonds received pre-issuance certification as climate bonds under the Climate Bonds Standard (CBS).
(Source: AC Energy, Asset ESG Forum, 10 Feb., 2019) Contact: AC Energy , Eric Francia, Pres., CEO, www.acenergy.com.ph; Ayala, www.ayala.com.ph/ac-energy
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Funded by ADB, the Government of Germany, and the Swedish Energy Agency, the facility will provide technical, capacity building, and policy development support to help the DMCs meet Article 6 of the Paris Agreement under which countries voluntarily committed to lower their carbon emissions.
The Article 6 Support Facility is intended to help DMCs achieve expertise, draw lessons from pilot activities, and enhance their preparedness for participation in carbon markets beyond 2020, while contributing to international negotiations.(Source: ADB, Modern Diplomacy, 8 Dec., 2018) Contact: Asian Development Bank, +63 2 632 4444, www.adb.org
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According to the Bank's Country Director for India, Junaid Ahmad, energy efficiency is one of the bank's "strategic pillars" for engagement in India. (Source: ADB, PR, IANS, 11 Nov., 2018)Contact: Asian Development Bank, +63 2 632 4444, www.adb.org
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According to the World Bank’s Country Director for India, Junaid Ahmad , energy efficiency is one of the “strategic pillars” of the bank’s engagement in India. (Source: World Bank, PR, IANS, 11 Nov., 2018)
Contact: Asian Development Bank, +63 2 632 4444, www.adb.org; Energy Efficiency Services (India), www.eeslindia.org
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Forty-six pct of the issue was distributed in Europe, Middle East and Africa and 28 pct in the Americas and 26 pct in Asia. Thirty-one pct of the issuance was purchased by banks, 25 pct by insurance companies and pension funds, 24 pct by central banks and official institutions, and 20 pct by fund managers.
ADB issued its first US dollar-denominated green bond in 2015.
ADB's financing of climate mitigation and adaptation reached a record $4.5 billion in 2017 and the institution is now in position to achieve its US$6 billion annual climate financing target by 2020.
Of the total $6 billion, $4 billion will be dedicated to mitigation through scaling up support for renewable energy, energy efficiency, sustainable transport and building smart cities, while $2 billion will be for adaptation through more resilient infrastructure, climate-smart agriculture and better preparation for climate-related disasters.
ADB plans to raise around $23 billion from the capital markets in 2018. (Source: ADB, The Asset ESGForum, 23 Sept., 2018) Contact: Asian Development Bank, +63 2 632 4444, www.adb.org
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Now Tesla has deployed two more Powerpack projects at the Fiaga Power Station and the Faleolo International Airport on the main island for a total of 13.5 MWh of energy storage capacity.
The project reportedly cost $8.8 million and was supported by development partners, including the Asian Development Bank (ADB), the Government of Japan, Government of Australia, Government of New Zealand and the European Union. (Source: Tesla, electrk, 25 July, 2018) Contact: Tesla Power Pack, www.tesla.com/en_CA/powerpack
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The MDBs' latest joint report on climate financing said $27.9 billion -- 79 pct of the 2017 total -- was devoted to climate mitigation projects that aim to reduce harmful emissions and slow down global warming. The remaining 21 pct or $7.4 billion of financing for emerging and developing nations was invested in climate adaptation projects. In 2016, total MDB climate financing totaled US$27.4 billion.
The MDBs, which include the African Development Bank , the Asian Development Bank, the European Bank for Reconstruction and Development, the European Investment Bank , the Inter-American Development Bank Group (IDB and IDB Invest) and the World Bank Group (World Bank, IFC and MIGA), account for the vast majority of multilateral development finance. (Source: IDB, Caribbean Life, 23 June, 2018) Contact: IDB,
Juan Pablo Bonilla, Climate Change and Sustainability Sector Manager, Therese Turner-Jones, GM Caribbean Country Department, www.iadb.org
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The 2017 DEfR found that the share of ADB operations supporting climate change mitigation and/or adaptation rose to 49 pct in 2015 -- 2017, exceeding the 45 pct 2020 target. Climate change finance, including external sources mobilized by ADB, reached a record $5.16 billion in 2017. This puts ADB in a good position to achieve its $6 billion annual climate financing target by 2020.
(Source: Asian Development Bank, 3 May 2018) Contact: Asian Development Bank, +63 2 632 4444, www.adb.org
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Scientists from Iceland (pop. 345,000) and China are also helping each other study climate change.
(Source: Strait Times, Bloomberg, 25 Mar., 2018)
Contact: Sinopec Green Energy,
www.sinopecge.com/eng/profile.asp; Arctic Green Energy Corp., +354 558 0880, www.arcticgreencorp.com
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From 2004 to 2015, waste generation in Vietnam increased by about 78.2 pct from 15.6 million tpy to about 27.8 million tpy. To date, only one plant, supported by technical assistance funds and grants, has been built with a capacity to treat 75 tpd of industrial waste and a power generation capacity of 1.93 MW.
(Source: Asian Dev. Bank, OpenGov, 2 Feb., 2018) Contact: Asian Development Bank, Michael Trainor, Energy Specialist, +63 2 632 4444, www.adb.org
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According to the ADB release, Afghanistan is reliant on imported energy from neighbouring countries to meet its domestic demand, despite only 32 pct of the population having access to grid-connected electricity.
The site and substation will be constructed to accommodate an additional 10-20MW of solar as needed. (Source: ADB, PV Mag., 27 Nov., 2017) Contact: Asian Development Bank, Michael Trainor, Energy Specialist, +63 2 632 4444, www.adb.org
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The KCT Group is active in the coal, engineering equipment, container and allied products, real estate, manufacturing and aquaculture sectors.
Goldman Sachs, Abu Dhabi Investment Authority, Asian Development Bank and Global Environment Fund are among ReNew Power's major investors. The company is reportedly valued at approximately $2 billion. (Source: ReNew Power, 15 Nov., 2017)Contact: ReNew Power, +91 124 489 6670/80, email@example.com, www.renewpower.in
KC Thapar Group, www.kctgroup.com
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The EERF mechanism will support the 'proof of concept' investments for the new technologies of super-efficient ceiling fans, tri-generation technologies and smart grid-applications and ultimately scaling up energy efficiency financing and programme development to help cover initial investment costs of identified energy efficiency programmes like street lighting, domestic lighting, five-star rated ceiling fans and agricultural pumps.
The GEF project further brings together many technical and financing partners including United Nations Environment (UN Environment), Asian Development Bank (ADB) and Kreditanstalt fur Wiederaufbau (KfW).
GEF is an international partnership of 183 countries, international institutions, civil society organizations and the private sector that addresses global environmental issues. (Source: GEF, domain-b, 2 Nov., 2017) Contact: Energy Efficiency Services Limited, www.eeslindia.org; Global Environment Facility, www.thegef.org
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Beginning in 2018,
the World Bank will report in its Corporate Scorecard aggregate GHG emissions from its investment projects in key sectors, including $11 billion invested in renewable energy and $4.5 billion in energy efficiency in the past five years. The World Bank is also taking steps to measure its clients' exposure to coal, and was "evaluating options to work with these clients to move toward more renewable energy options." noting that in In 2018 the bank tripled its climate change commitments through financial institutions to $1.4 billion.
(Source: World Bank, DEVEX, 14 October 2017) Contact: World Bank IFC, www.ifc.org
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The issuance was split into a $750 million , five-year offering that matures on Aug. 10, 2022, and a $500 million ten-year bond offering that matures on Aug. 10, 2027. Both bond issues were widely distributed geographically with 52 pct of the total issuance going to banks, 25 pct to central banks and official institutions, and 23 pct to fund managers.
The transactions were lead-managed by Bank of America Merrill Lynch, Credit Agricole CIB, and J.P. Morgan. A syndicate group was also formed consisting of Citi, HSBC, Morgan Stanley, and TD Securities, according to ADB.
ADB aims to raise between $27 billion to $30 billion from capital markets in 2017. (Source: ADB, GMA, Others, Aug., 2017) Contact: Asian Development Bank, Michael Trainor, Energy Specialist, www.adb.org
More Low-Carbon Energy News ADB, Green Bonds, Asian Development Bank, Green Bond, Climate Change Funding,
According to the report, ADB is helping to improve regional energy systems by: promoting energy efficiency and renewable energy; maximizing access to energy; and promoting energy sector reform, capacity building, and effective governance.
The report also provides a summary of existing operations and regional initiatives as well as the impacts of ADB-supported energy initiatives completed in 2016 and ongoing in 2017.
(Source: Asian Development Bank, Pacifik, 5 June, 2017) Contact: ADB, Michael Trainor, Energy Specialist, www.adb.org
More Low-Carbon Energy News Asian Development Bank, Renewable Energy, Clean Energfy, Renewable Energy,