National University of Science and Technology
Date: 2019-09-04
The US-Pakistan Centre for Advanced Studies in Energy at Pakistan's National University of Science and Technology (NUST) -- under the banner of U.N. Industrial Development Organization (UNIDO) programme for promoting sustainable energy production and the use of biomass in Pakistan -- is reporting plans to develop that country's first Biomass Cluster.

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

More Low-Carbon Energy News Biomass,  Pakistan Biomass,  

Asian Development Bank
Date: 2019-05-22
The Manila-headquartered Asian Development Bank (ADB) is reported to have offered $4 million in loan funding to Barakat Kandahar Solar Energy (BKSE), a special purpose vehicle company majority owned by 77 Afghanistan, a subsidiary of 77 Group, for construction of a 15.1 MW solar PV power plant in Afghanistan.

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

More Low-Carbon Energy News Asian Development Bank,  Solar,  

Asia Development Bank
Date: 2019-05-13
The Manila-headquartered Asian Development Bank (ADB) reports it will increase its climate investments from this year forward. The pledge from ADB President Takehiko Nakao was make in consideration of some countries in the Asia Pacific region facing extreme weather events caused by climate change.

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

More Low-Carbon Energy News Asian Development Bank ,  

Asian Development Bank
Date: 2019-04-19
Private sector operations reached USD 3.14 billion, a 37 per cent increase from 2017, which is 14.5 per cent of ADB's overall commitment. PTI| In Manila, according to the Asian Development Bank (ADB} newly released annual report, it committed $3.88 billion in sovereign loans, including sovereign loans and co-financing during the year ended December 2018, to India in 2018,

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)

More Low-Carbon Energy News Asian Development Bank news,  

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Asian Development Bank
Date: 2019-04-08
According to the Manila-headquartered Asian Development Bank's (ADB) recently released study Asian Development Outlook 2019: Strengthening Disaster Resilience, developing economies across Asia are among the most vulnerable to climate change-natural disasters such as storms, floods, droughts, and have suffered damages estimated at $644 billion since 2000. Weather-related hazards caused the greatest share at $507 billion at 79 pct while geophysical hazards accounted for the remaining $137 billion dollars at 21 pct.

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

More Low-Carbon Energy News Asian Development Bank,  Climate Change Mitigation,  

AC Energy,Ayala
Date: 2019-02-11
In the Philippines, AC Energy, the energy platform of one of the largest conglomerates located in the Philippines, Ayala Corporation, reports it raised $410 million (US) in its first Climate Bond Initiative listed on the Singapore Exchange. The International Finance Corporation (IFC), a member of the World Bank Group, provided an anchor investment of $75 million to complete the public placement of the bonds. AC Energy added a private placement of $110 million in climate bonds for 10 years and the Asian Development Bank (ADB) invested $20 million in the transaction, which is paying a coupon of 5.25 pct.

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

More Low-Carbon Energy News Ayala,  AC Energy,  Climate Change,  Green Bond,  Renewable Energy,  

Asian Development Bank
Date: 2018-12-10
Reporting from Manila, the Asian Development Bank (ADB) is heralding the launch of the $4 million, Article 6 Support Facility to help developing member countries (DMCs) in Asia and the Pacific combat climate change.

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

More Low-Carbon Energy News Paris Climate Agreement,  Asian Development Bank,  Climate Change,  Carbon Emissions,  

ADB
Date: 2018-11-14
In the Sub-Continent, the Asian Development Bank (ADB) reports it will grant $13 million to Indian government-owned Energy Efficiency Services Ltd (EESL) to establish an energy efficiency revolving fund. The fund is intended to sustain and expand energy efficiency investments, build market diversification, and scale up existing energy efficiency technologies in India.

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

More Low-Carbon Energy News Asian Development Bank,  ADB,  Energy Efficiency,  India Energy Efficiency,  

Asian Development Bank,Energy Efficiency Services
Date: 2018-11-12
In the Sub-Continent, the Asian Development Bank (ADB) reports it will grant $13 million to Indian government-owned Energy Efficiency Services Ltd (EESL) to establish an energy efficiency revolving fund (EERF) to expand and sustain investments in the energy efficiency market in India, build market diversification, and scale up existing technologies.

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

More Low-Carbon Energy News Asian Development Bank,  Energy Efficiency Services,  

Asian Development Bank
Date: 2018-09-24
Further to our May 4th coverage, the Manila-headquartered Asian Development Bank (ADB) reports it has raised another $750 million in 10-year green bonds to help finance climate change mitigation and adaptation projects.

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

More Low-Carbon Energy News Climate Change Mitigation,  Green Bonds,  Asian Development Bank,  

Tesla Powerpack
Date: 2018-07-27
In 2016, Tesla deployed a 1.4 MW solar array and a 6 MWh energy storage system incorporating 60 Tesla Powerpacks on the island of Ta’u in American Samoa where Tesla back in 2016.

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

More Low-Carbon Energy News Tesla Powerpack,  Energy Storage,  

IDB
Date: 2018-06-27
According to the Washington-based Inter-American Development Bank (IDB), a financing increase of more than 20 pct to a seven-year high of $35.2 billion from the previous year by the world's six largest multilateral development banks (MDBs) has boosted projects that help the Caribbean and other developing countries cut emissions and address climate risks.

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

More Low-Carbon Energy News IDB,  Climate Change,  Climate Change Mitigation,  Climate Finance,  

Asian Development Bank
Date: 2018-05-04
The Manila-headquartered Asian Development Bank (ADB) is meeting its goal to increase development finance to the Asia and Pacific region and achieving its development and operational targets, especially in climate change, according to the ADB's recently released 2017 Development Effectiveness Review (DEfR). The DEFR measures how well ADB is executing its corporate strategy and meeting its strategic priorities across 85 results indicators.

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

More Low-Carbon Energy News Asian Development Bank ,  Climate Change,  

Sinopec Green Energy,Arctic Green Energy
Date: 2018-03-28
Reykjavik, Iceland-headquartered Arctic Green Energy (AGE) has inked an agreement with Sinopec Green Energy Geothermal Dev elopement Co. to supply geothermal heat technology to help China develop clean energy for a new Xiong'an, a 15 million strong economic zone south-west of Beijing, according to Bloomberg. The geothermal deal is being supported with $250 million in loans from the Asian Development Bank.

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

More Low-Carbon Energy News Geothermal,  

MSW,Asian Development Bank
Date: 2018-02-07
In Vietnam, the Asian Development Bank (ADB) reports it will loan $100 million to China Everbright International Limited (CEIL) to support the construction and operation of a series of municipal solid waste-to-energy (WTE) plants to be constructed in primary and secondary cities in the Mekong Delta. The WTE plants will supply electricity to the local electricity grid.

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

More Low-Carbon Energy News Asian Development Bank ,  MSW,  Municipal Solid Waste,  Waste-to-Energy,  

Asian Development Bank
Date: 2017-11-29
The Asian Development Bank (ADB) reports it has approved a $44.76 million grant to support the development of a 20MW solar PV project in Kabul, Afghanistan. When fully operational, the facility is expected to generate approximately 43GWh of electricity per year.

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

More Low-Carbon Energy News Asian Development Bank,  Solar,  

ReNew Power Ventures ,KC Thapar Group
Date: 2017-11-17
In India, ReNew Power Ventures Pvt. Ltd reports it will acquired acquire three fully operational wind power assets with 103 MW of total capacity from of the KC Thapar Group for a total cost of $153 million. The power plants are located in Kurnool and Anantapur districts of Andhra Pradesh.

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, info@renewpower.in, www.renewpower.in KC Thapar Group, www.kctgroup.com

More Low-Carbon Energy News ReNew Power Ventures,  KC Thapar Group,  Wind,  

Global Environment Facility, Energy Efficiency Services Limited
Date: 2017-11-06
The Global Environment Facility (GEF) is reporting $454 million in funding to India's Energy Efficiency Services Limited (EESL) Creating and Sustaining Markets for Energy Efficiency project. The project funding is comprised of a $20 million grant and co-financing of $434 million in the form of loans and equity, including a $200 million loan from the Asian Development Bank (ADB). EESL further proposes to build an `Energy Efficiency Revolving Fund' (EERF) for sustainable funding mechanism of energy efficiency projects in the country.

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

More Low-Carbon Energy News GEF ,  Energy Efficiency Services Limited ,  

World Bank
Date: 2017-10-16
The World Bank reports it will start reporting the net global greenhouse gas emissions (GHGs) from all of its projects beginning in 2018. Until now, the bank only tracked emissions on a project-by-project basis and the data was said to be often difficult to find. Many other multilateral development banks -- including the Asian Development Bank -- already publish their net carbon emissions.

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

More Low-Carbon Energy News World Bank,  GHGs,  Carbon Emissions,  

Asian Development Bank
Date: 2017-09-29
The Asian Development Bank (ADB) reports it has approved a $50 million loan to aid the funding of the Rooftop Solar Power Generation Project in Sri Lanka. The project would finance rooftop solar power projects equivalent to 50 MW of additional capacity the ADB added. The project is expected to cost a total of $59.8 million, with the private sector providing an equity contribution of $9.8 million. The ADB will also administer $1 million in technical assistance from the Asian Clean Energy Fund under the Clean Energy Financing Partnership Facility. This would be used, among other things, to help build capacity and support the implementation of the project in Sri Lanka. (Source: ADB, CNBC, 27 Sept., 2017) Contact: Asian Development Bank, Michael Trainor, Energy Specialist, www.adb.org

More Low-Carbon Energy News Asian Development Bank ,  Rooftop Solar,  Solar,  

Asian Development Bank
Date: 2017-08-04
In Manila, the Asian Development Bank (ADB) reports the sale of $1.25 billion in green bonds in a dual-tranche issuance to support its low-carbon and climate resilient projects. With the $1.25 billion for climate change support, ADB expects a 30 pct growth in overall financing.

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,  

Asian Development Bank
Date: 2017-06-07
According to the Asian Development Bank's (ADB) Pacific Energy Update 2017Report, the ADB is partnering with governments, communities, and the private sector to help improve and support the availability of clean and affordable sustainable power in the Pacific region -- the Cook Islands, Fiji, the Federated States of Micronesia , the Marshall Islands, Nauru, Papua New Guinea, Samoa, the Solomon Islands, Tonga, and Vanuatu.

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,  

ReNew Power
Date: 2017-04-12
India's largest clean energy producer ReNew Power is reportedly planning an IPO of shares to raise up to $600 million, sometime within the next 12 months. Goldman Sachs, Abu Dhabi Investment Authority, Asian Development Bank and Global Environment Fund could offload part of their stakes in the proposed IPO that will primarily offer existing, rather than new shares.

HSBC, Kotak and Bank of America Merrill Lynch are amongst banks vying for a role in arranging the proposed share sale., according to ReNew Power.

Since it founding in 2011, ReNew Power has raised $850 million in equity from investors, and may raise an additional $200 million prior to its IPO, either through equity or quasi-equity instruments. (Source: ReNew Power, ET Energy World, 7 April, 2017) Contact: ReNew Power, +91 124 489 6670/80, info@renewpower.in, http://renewpower.in

More Low-Carbon Energy News ReNew Power,  Renewable Energy,  

ReNew Power,JERA Co
Date: 2017-02-17
In Mumbai, Indian renewable power generation company ReNew Power Venture Pvt., which is majority-owned by Goldman Sachs, reports it will sell a 10 pct equity stake to Japan-based JERA Co for $200 million, ahead of its IPO planned for later this year.

ReNew Power has 1.2 GW wind and power generation capacity in commissioned projects, and has another 1.8 GW projects under construction. It has set a target of building over 11 GW of wind and solar power capacity over the next five years.

ReNew Power investors include Asian Development Bank, Abu Dhabi Investment Authority and the Global Environment Fund as its investors, as well as Goldman Sachs, which invested $200 million in the company at its inception in 2011. (Source: ReNew Power, Financial Express, 14 Feb., 2017) Contact: ReNew Power, +91 124 489 6670/80, info@renewpower.in, http://renewpower.in

More Low-Carbon Energy News ReNew Power,  JERA Co,  Wind,