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Warsaw Joining EBRD Green Cities (Intl. Report)
EBRD,C40
Date: 2020-06-22
The Polish capital city of Warsaw (pop. 1.8 million) reports it is joining the European Bank for Reconstruction and Development's (EBRD) Green Cities urban sustainability program.

The €1.5 billion EBRD Green Cities program helps member cities tailor solutions to their individual environmental needs with a unique combination of measures designed to move towards a lower-carbon and more liveable future. On joining the program, cities undertake a trigger project with EBRD finance and craft their own Green City Action Plan (GCAP) setting out further actions.

Warsaw will receive the combined support of EBRD Green Cities and the climate leadership group C40 to develop a multi-decade investment plan and roadmap to achieve carbon neutrality while addressing its most immediate challenges in the short term.

Warsaw's GCAP is supported by donor funding from Poland and Taipei China, and the EBRD and C40 will work together to help deliver the final action plan. This will be the first such cooperation within EBRD Green Cities, a fast growing program that now has 43 participating cities. (Source: Warsaw Business Journal, EBRD, 20 June, 2020) Contact: European Bank for Reconstruction and Development, www.ebrd.com; C40 Cities, www.c40.org

More Low-Carbon Energy News EBRD Green Cities,  EBRD,  C40,  


MASDAR to Develop a 500 MW Uzbekistan Wind Project (Int'l. Report)
MASDAR
Date: 2020-06-15
In Abu Dhabi, the Abu Dhabi Future Energy Company (MASDAR) is an agreement with the Uzbekistan Ministry of Investments and Foreign to develop and operate a 500-MW wind farm project in the country's Navoi region. The project, which is being supported by the London-based European Bank for Reconstruction and Development (EBRD) and the Government of Japan, is expected to be commissioned and online in 2024.

The project is the MASDAR's second utility-scale renewable energy project in Uzbekistan, which is aiming to develop 5-GW of renewable energy by 2030. (Source: MASDAR, Mercon India, 13 June, 2020) Contact: MASDAR, +971 2 653 3333, www.masdar.ae; European Bank for Reconstruction and Development, www.ebrd.com

More Low-Carbon Energy News MASDAR,  Wind,  European Bank for Reconstruction and Development,  


Masdar, Infinity Solar Announce Joint Projects Agreement (Int'l.)
Masdar, Infinity Energy
Date: 2020-01-17
In the UAE, Abu Dhabi-based Masdar and Egyptian renewable energy developer Infinity Solar are reporting an agreement to jointly develop African renewable energy projects.

Infinity will develop utility-scale and distributed solar energy and wind power projects in Egypt and Africa. Egypt's 2035 Integrated Sustainable Energy Strategy targets 20 pct of the electricity mix coming from renewables by 2022 and 42 pct by 2035.

Infinity Energy completed the development and construction of Egypt's first large-scale solar power plant in February 2018, followed by another three plants in Benban Solar Park, which is considered the largest solar park in the world to date. Infinity Energy now operates its six solar plants with a total capacity of 235MW.

The European Bank for Reconstruction and Development (EBRD) recently committed an investment in Infinity Energy of up to S$60 million in the form of capital increase in the company to finance the development, construction and operation of renewable energy projects and associated ancillary business including electricity distribution and electric vehicle charging stations in Egypt and across Southern and Eastern Mediterranean countries. (Source: Masdar, Infinity Energy, Arabian News, 16 Jan., 2020) Contact: Infinity Solar, Nayer Fouad, CEO,+20 2 25054345, info@infinitysolar.com, www.infinitysolar.com; Masdar, Mohamed Jameel Al Ramahi, CEO, Shaima Al Jarman, Marketing & Communications, +971 02 8109365, saljarman@masdar.ac.ae, www.masdar.ca.ae

More Low-Carbon Energy News Masdar ,  Infinity Energy,  Renewable Energy,  Wind,  Solar,  


EBRD Loans €45Mn for Moroccan Hybrid Solar Project (Int'l.)
European Bank for Reconstruction and Development
Date: 2019-12-11
In London, the European Bank for Reconstruction and Development (EBRD) is reporting it will loan €45Mn for the development of the Noor Midelt I hybrid solar project in central Morocco.

The Abu Dhabi Future Energy Company (Masdar), a member of the consortium developing the project, owns 30 pct of the project and guarantees the EBRD loan. Other consortium members include: EDF Renouvelables which holds 35 pct of the project and the Moroccan company Green of Africa with 10 pct; Moroccan Sustainable Energy Agency (Masen) owns the remaining 25 pct of the Noor Midelt I hybrid solar project. The Noor Midelt I power plant will combine PV solar energy and concentrated solar energy.

The project, which is expected to come in at €740 million, will be designed and constructed by Gijon, Spain-based TSK and is expected to be completed in 2022.(Source: EBRD, Afrik21, 9 Dec., 2019)Contact: European Bank for Reconstruction and Development, +44 (0) 207 338 6000, www.ebrd.com

More Low-Carbon Energy News European Bank for Reconstruction and Development,  Solar,  


EBRD Supporting Increased Egyptian Renewable Energy (Int'l.)
European Bank for Reconstruction and Development
Date: 2019-12-02
The London, UK-headquartered European Bank for Reconstruction and Development (EBRD) reports it will lend $183 million to state-owned the Egyptian Electricity Transmission Company (EETC), a state-owned company for grid and network modernization, new sub-station construction to accommodate the injection of 1.3 GW of electricity produced from renewable sources.

The EBRD funded projects are expected to reduce CO2emissions by 77,000 tpy in Egypt. (Source: EBRD, Afrik21, 30 Nov., 2019) Contact: European Bank for Reconstruction and Development, +44 (0) 207 338 6000, www.ebrd.com; Egyptian Electricity Transmission Company, www.eehc.gov.eg

More Low-Carbon Energy News European Bank for Reconstruction and Development ,  


EBRD Confirms Kazakhstan Renewables Support (Int'l Report)
European Bank for Reconstruction and Development
Date: 2019-09-16
The London, UK-headquartered European Bank for Reconstruction and Development (EBRD) reports it has committed to support Kazakhstan's drive to promote renewable energy, with the help of a second phase of the Bank's Kazakhstan Renewables Framework of up to €300 million.

The first phase supported the creation of 262 MW of renewable power-generation capacity across the country, attracted four private international investors and supported a grid-strengthening project.

In addition to the EBRD funding, the Framework will be supported by concessional finance from the Green Climate Fund and benefit from a comprehensive technical cooperation programme, which will support competitive tendering for wind projects and the development of a carbon market in Kazakhstan. Kazakhstan's renewable energy target aims for 3 pct of power generation by 2020 and 50 pct by 2050.

To date, the EBRD has invested over €8.3 billion ($9.1 billion) through 262 projects in the economy of Kazakhstan. Over €2 billion of this funding has supported Green Economy Transition projects. The Bank is the largest international investor in the country's economy outside of the oil and gas sectors and has a wide presence in Kazakhstan. (Source: EBRD, kazinform, 15 Sept., 2019)Contact: European Bank for Reconstruction and Development, +44 (0) 207 338 6000, www.ebrd.com

More Low-Carbon Energy News EBRD,  Renewable Energy,  


EBRD Financing Ukraine Dnepro-Bugsky Wind Farm (Int'l, Funding)
EBRD
Date: 2019-07-15
The European Bank for Reconstruction and Development (EBRD), under its Ukrainian Sustainable Energy Lending Facility III (USELF III), is confirming a €250 million facility to partially finance construction of the 110-MW Dnepro-Bugsky Wind Power Station LLC wind farm in Oleksandrivka, Ukraine.

Dnepro-Bugsky Wind Power Station LLC is owned by Akuo Energy SAS (France), Saffelberg Investment NV (Belgium) and Aeolus Invest NV (Belgium). The 25-turbine Dnepro-Bugsky project is expected to come in at €188.64 million. Nordex is supplying the turbines. (Source: EBRD, Interfax-Ukraine, 13 July, 2019) Contact: European Bank for Reconstruction and Development, +44 (0) 207 338 6000, www.ebrd.com; Dnepro-Bugsky Wind Power Station LLC, www.dbwes.com

More Low-Carbon Energy News EBRD,  Wind,  Ukraine Wind,  


GE Supplying Turbines to 220 MW Polish Wind Project (Int'l Report)
GE Renewable Energy ,EBRD
Date: 2019-07-12
GE Renewable Energy reports it will supply 81 onshore wind turbines along with a five-year service agreement to power the 220 MW Potegowo Wind Project in Northern Poland. This is the first project between GE Renewable Energy and Potegowo Mashav Sp Z OO. With a current installed base of 580 MW in Poland, GE Renewable Energy will increase its installed base to 800 MW in the country, once the project is commissioned.

The 81 turbines for the Polish project will be manufactured at GE Renewable Energy's facility in Salzbergen, Germany. GE will also provide a five-year Full Service Agreement (FSA) offering data-driven insights, expert recommendations, and advanced field services.

The Polish project, which is supported by the European Bank of Reconstruction and Development (EBRD), is expected to help save 480,000 tpy of carbon dioxide. (Source: GE Renewable Energy, PR, reve, 11 July, 2019) Contact: GE Renewable Energy , Peter Wells, Onshore Wind CEO for Europe and SSA, www.ge.com/renewableenergy; European Bank for Reconstruction and Development, +44 (0) 207 338 6000, www.ebrd.com; Potegowo Mashav, Mashav Energia, office@mashavenergia.com, www.mashavenergia.com

More Low-Carbon Energy News EBRD,  GE Renewable Energy,  Wind Turbine,  


EBRD, Norway Supported Montenegro Wind Farm Going Strong (Int'l)
EBRD
Date: 2019-05-06
In 2015, the European Bank for Reconstruction and Development (EBRD), supported by Norway, provided financing for the Balkan country of Montenegro's Krnovo Wind Farm -- the country's first utility-scale wind farm. Today, the wind farm represents 8 pct of the total installed power capacity and contributes to 5 pct of total electricity production in Montenegro as well as more than 180,000 tpy of CO₂ avoided emissions and an annual electric power supply for more than 100,000 households.

In Montenegro, the renewables sector is still ina its infancy, and a lack of administrative capacity is considered the key bottleneck to further promotion of green energy.

With the support of Norway, the EBRD has worked with Montenegrin authorities to design a more robust legal framework for supporting sustainable energy projects. This includes assistance with the level of feed-in-tariffs, drafting regulations for government support renewable energy, and the development of a bankable power purchase agreement for renewable energy projects. (Source: EBRD, The Financial, May, 2019)Contact: European Bank for Reconstruction and Development, +44 (0) 207 338 6000, www.ebrd.com

More Low-Carbon Energy News EBRD,  Wind,  


EBRD Supports Albanian Green Energy, Floating Solar Projects (Intl)
ERBD
Date: 2019-03-18
The European Bank for Reconstruction and Development (EBRD) has provided a €9 million loan from its €85 million Western Balkans Green Economy Financing Facility (GEFF) to support investments in Albanian green energy, renewable energy and energy efficiency projects expected to cut over 21,000 tpy of CO2 emissions across the region.

ERBD also announced a 2-MW floating solar project being developed by Norwegian company Statkraft's Albanian subsidiary and floating solar technology developer Ocean Sun. The €2.3 million project will incorporate four units of 0.5 MW each. (Source: EBRD, The Balkanista, Mar., 2019) Contact: European Bank for Reconstruction and Development, +44 (0) 207 338 6000, www.ebrd.com; Ocean Sun, info@oceansun.no, https://oceansun.no

More Low-Carbon Energy News EBRD,  Statkraft,  Solar,  Floating Solar,  


Balkans Energy Efficiency Scores Additional EU Funding (Int'l) Report)
EU,Energy Efficiency
Date: 2019-02-25
In Brussels, the European Union (EU) reports it is providing an additional €30 million ($34 million) under the EU Regional Energy Efficiency Programme (REEP) to support energy efficiency initiatives and programs in the Balkans -- Albania, Bosnia and Herzegovina, North Macedonia, Kosovo, Montenegro and Serbia.

The additional support brings the EU's contribution to the programme to €80 million and it further leverages 6.5 times more of financing via International Financial Instruments. The fund will be extended through the Western Balkans Investment Framework (WBIF).

The 2013 REEP programme is a joint initiative of the EC, bilateral donors and beneficiary countries cooperating under the WBIF. The program , which promotes and supports energy efficiency efforts, was implemented by the European Bank for Reconstruction and Development (EBRD) in concert with the Energy Community Secretariat. (Source: EU, SeeNews, Twitter, 23 Feb., 2019)

More Low-Carbon Energy News Energy Efficiency Funding,  EU,  


Alcazar's 86.1MW Jordanian Wind Farm Now Online (Int'l Report)
Alcazar Energy,EBRD
Date: 2018-11-28
Further to our March 3o coverage, Alcazar Energy, an independent renewable energy producer is reporting the completion and start of commercial operation of the Al Rajef wind farm in Jordan.

The plant includes a substation and 41 Siemens Gamesa wind turbines with a total combined capacity of 86.1MW.

The $185 million project, which was financed by the European Bank for Reconstruction and Development (EBRD), Proparco and DEG, is in line with Jordan's renewable energy targets and could save more than 160,000 tonnes of CO2 and 380,000 cbm of water per year. Alcazar Energy will oversee and manage the wind farm operation and maintenance (O&M) through O&M contractors Elecnor/Siemens Gamesa. (Source: Alcazar Energy, ME Construction News, 26 Nov., 2018) Contact: Alcazar Energy, Daniel Calderon, CEO, +962 6 461 4005, www.alcazarenergy.com; European Bank for Reconstruction and Development, +44 (0) 207 338 6000, www.ebrd.com

More Low-Carbon Energy News Alcazar Energy,  Wind,  EBRD,  


Lekela Seeking $81Mn for Egyptian Wind Project (Int'l Report)
European Bank for Reconstruction and Development,Lekela Power
Date: 2018-11-07
Amsterdam-headquartered renewable energy develkoper and producer Lekela Power reports it is seeking $81.4 million from the European Bank for Reconstruction and Development (EBRD) for the construction of a 250-megawatt, $400 million wind farm in Ras Ghareb, northeastern Egypt.

Lekela's Suez Gulf Wind Project -- the largest in the Middle East -- is part of a build-own-operate (BOO) system under which Lekela will develop, build, operate and own the plant for a period agreed with the Egyptian government.

The wind project's first phase was developed by Engie, in a consortium with Toyota Tsusho Corporation / Eurus Energy Holdings Corporation and Orascom Construction. The plant is scheduled to come on stream inQ4, 2019. (Source: Lekela Power , EBRD, Afrik21, 5 Nov., 2018) Contact: Lekela Power +31-20-241 7299, www.lekela.com

More Low-Carbon Energy News European Bank for Reconstruction and Development news,  EBRD news,  Wind news,  

More Low-Carbon Energy News European Bank for Reconstruction and Development,  EBRD,  Wind,  


EBRD Funding 28-MW Kazakhstan Solar Project (Int'l. Report)
European Bank for Reconstruction and Development
Date: 2018-10-22
The European Bank for Reconstruction and Development (EBRD) reports it will provide a $35-million loan for a 28-MW solar power plant in southern Kazakhstan. The project is being developed by Nomad Solar LLP, a joint special purpose company owned by French renewables developer Total Eren SA and UAE-based Access Infra Central Asia Ltd.

The project is the bank's sixth under the EBRD Kazakhstan Renewables Framework. When fully operational, the facility is expected to cut 47,800 tpy of carbon dioxide (CO2) emissions. (Source: European Bank for Reconstruction and Development, Various Media, Renewables, 19 Oct., 2018) Contact: European Bank for Reconstruction and Development, +44 (0) 207 338 6000, www.ebrd.com

More Low-Carbon Energy News European Bank for Reconstruction and Development ,  Solar,  


EBRD Investing €80Mn in Ukrainian Bioenergy (Int'l. Report)
European Bank for Reconstruction and Development
Date: 2018-10-17
The European Bank for Reconstruction and Development (EBRD) reports it plans to invest €80 million in from 10 to 15 Ukrainian bioenergy projects focused on bioethanol, biogas and bio methane fuels production through 2019. The program will be jointly financed with the Global Environment Facility and the Clean Technology Fund.

Ukraine is reported to have significant untapped capacity in bioenergy production, but faces logistical challenges when it comes to taking advantage of biomass and getting full benefit from the energy potential in vast amounts of agricultural bi-product and waste.

The EBRD's combined operations and engagement in Ukraine, Belarus, Moldova, Armenia, Azerbaijan and Georgia is presently close to €24 billion, according to the bank (Source: EBRD, InterFax Ukraine, KYIV, 16 Oct., 2018) Contact: European Bank for Reconstruction and Development, +44 (0) 207 338 6000, www.ebrd.com

More Low-Carbon Energy News European Bank for Reconstruction and Development,  EBRD,  Bioenergy,  


Serbia's First Large-Scale Wind Farm Financing Announced (Int'l)
Green for Growth Fund
Date: 2018-06-08
The European Investment Bank (EIB) Green for Growth Fund (GGF) reports it will provide €32 million for the 158 MW Cibuk windfarm, Serbia's first large-scale wind farm which will be constructed near Belgrade.

The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) have already pledged to provide €215 million for the project, partially through a syndicated loan.

The wind farm is being developed by Vetroelektrane Balkana, owned by Tesla Wind, a joint venture between an Abu Dhabi-based renewable energy developer Masdar and Cibuk Wind Holding, a branch of the U.S.-based wind energy developer Continental Wind Partners.

The GE 57 turbine park will generate sufficient energy for approximately 113,000 households. (Source: Business Insider UK, Reuters, 5 June, 2018) Contact: European Investment Bank, Green for Growth Fund, www.ggf.lu/about-green-for-growth-fund; EIB, www.eib.org; Vetroelektrane Balkana, www.wpc.rs/en

More Low-Carbon Energy News EBRD,  Wind,  EIB,  


EBRD Lending €5.1Mn for Bosnian Energy Efficiency Measures (Int'l)
European Bank for Reconstruction and Development
Date: 2018-04-02
The European Bank for Reconstruction and Development (EBRD) has reportedly a €5.1 million loan to Sarjavo-based microfinance organization MKF Partner to support residential energy efficiency measures.

The loan has been made through the EBRD's €85 million Green Economy Financing Facility for the Western Balkans, according to an MKF Partner statement. The funds will be lent to individuals, residents' associations, suppliers of green energy and others to finance thermal insulation of buildings, replacement of windows and doors, purchase of pellet and biomass boilers, solar collectors, heat pumps, economical lighting and other energy efficiency measures.

MKF Partner is an active lender to micro and small enterprises in Bosnia.

The EBRD has invested over €2.1 billion in more than 150 projects in Bosnia and Herzegovina to date. (Source: European Parliament, European Bank for Reconstruction and Development, 2 April, 2018) Contact: European Bank for Reconstruction and Development, +44 (0) 207 338 6000, www.ebrd.com; MKF Partner, www.partner.ba

More Low-Carbon Energy News European Bank for Reconstruction and Development,  Energy Eficiency,  


Turkey Touts $11Bn NEEAP Energy Efficiency Plan (Int'l Report)
Turkey
Date: 2018-01-17
In Ankara, the Turkish government is touting its National Energy Efficiency Action Plan (NEEAP) under which it intends to invest $11 billion to cut primary energy consumption by 14 pct. NEEAP is supported by the European Bank for Reconstruction and Development (EBRD).

To achieve its goal, the the plan calls for: increased use of renewable energy; district central heating schemes; encouraging the use of combined heat and power; and others.

Of all the Organization for Economic Co-operation and Development (OECD) countries, Turkey has the highest growth rate of energy demand, as per government figures. The country meets around 26 pct of its total power demand from domestic resources and is mainly dependent on imports. The government intends to develop 30 pct of its total installed capacity by 2023 to generate 34GW of hydropower, 20GW of wind energy, 5GW of solar energy, 1.5GW of geothermal and 1GW of biomass. (Source: Daily Sabah, OECD, 12 Jan., 2018)

More Low-Carbon Energy News Energy Efficiency,  


Saudi ICD Building 45MW Jordanian Wind Project (Int'l)
EBRD,Hecate Energy
Date: 2017-12-04
Trade Arabia reports Saudi-based Islamic Corporation for the Development of the Private Sector (ICD) and Shobak Wind Energy have signed facility agreements for a $26-million financing for the construction of a 45 MW wind farm in Jordan 160 km south of capital Amman. The balance of the Shariah-compliant senior financing is being provided by the European Bank for Reconstruction and Development (EBRD) and Europe Arab Bank (EAB).

Alcazar Energy, which is majority-owned by Alcazar Energy Partners, is developing the project in partnership with Chicago-headquartered Hecate Energy LLC.

The project will incorporate 13 Vestas wind turbines and will be constructed over a 2-year period at an expected total cost of $104 million. The project's power will be sold to the Jordanian National Electricity Power Company (NEPCO) under a long-term power purchase agreement. The project will help Jordan abate more than 100,000 tpy of CO2-equivalent and support the country's emission reduction targets under the Paris Climate Agreement. (Trade Arabia, 1 Dec., 2017)Contact: Hecate Energy LLC, www.hecateenergy.com; Jordanian National Electricity Power Company, www.nepco.com.jo/en

More Low-Carbon Energy News Wind,  Renewable Energy,  EBRD,  


GCF, EBRD Launch $1.4Bn Climate Finance Programme (Int'l. Funding)
European Bank for Reconstruction and Development, Green Climate Fund
Date: 2017-11-17
The European Bank for Reconstruction and Development (EBRD) and the Green Climate Fund (GCF) are reporting the launch of the Sustainable Energy Financing Facilities programme to support climate investments in Africa, the Asia Pacific and Eastern Europe.

GCF will contribute $378 million to the programme while the EBRD will provide a loan of $973 million along with a $34-million grant. GCF and EBRD will rely on local financial institutions to finance more than 20,000 scalable and replicable projects across industrial, commercial, residential, transport and agricultural sectors. The goal is to establish self-sustaining markets in the areas of energy efficiency, renewable energy and climate resilience. (Source: EBRD, Renewables Now, Others, Nov., 2017) Contact: European Bank for Reconstruction and Development, +44 (0) 207 338 6000, www.ebrd.com; Green Climate Fund, +82.32.458.6010, www.greenclimate.fund

More Low-Carbon Energy News European Bank for Reconstruction and Development ,  Green Climate Fund,  


EBRD Ups Egyptian, Serbian Wind, Solar Investments (Int'l)
European Bank for Reconstruction and Development
Date: 2017-10-20
In London, the UK-headquartered European Bank for Reconstruction and Development (EBRD) reports it is financing more than 1 GW of new renewables capacity in 2017. To date, the Bank has invested more than €4 billion directly in renewable energy, supporting projects in over 20 countries and funding more than 6.5 GW of capacity.

In this new announcement, the EBRD is financing 16 new solar power plants totaling 750 MW in Egypt including the 1.8 GW Benban solar site -- the largest solar installation on the African continent. The EBRD has also financed two recently completed Serbian wind projects totaling 300 MW.

EBRD investments over the last decade have focused increasingly on sustainable energy in support of climate finance. The EBRD is well on the way to meeting commitments made in the run up to the 2015 Paris Climate Agreement of dedicating 40 pct of its total annual investments to green finance by 2020, the Bank says. (Source: EBRD, New Europe Online/KG, 18 Oct., 2017) Contact: EBRD, +44 (0) 207 338 6000, www.ebrd.com

More Low-Carbon Energy News European Bank for Reconstruction and Development,  EBRD,  Wind,  Solar,  Renewable Energy,  


FINTECC Finances Aversi Pharma Energy Efficiency Upgrades (Int'l)
Aversi Pharma
Date: 2017-10-11
Aversi Pharma, a privately-held pharmaceutical company in the country of Georgia, is reporting receipt of $245,000 in financing from Finance and Technology Transfer Centre for Climate Change (FINTECC) for the installation of energy efficiency upgrades in its hospitals and clinics.

Energy efficient upgrades include double-glazed windows, high-efficiency chillers and boilers as well as LED lighting and light control. The upgrades are expected to deliver 25 pct energy savings per year.

FINTECC is part of a global drive towards climate technology transfer for developing countries and countries in transition. FINTECC helps companies in participating European Bank for Reconstruction and Development (EBRD) countries implement energy efficiency, renewable energy, water efficiency and materials efficiency measures and other climate technologies to reduce greenhouse gas emissions, according to the company's website. (Source: Aversi Pharma, Energy Manager, 5 Oct. 2017) Contact: FINTECC, www.finchannel.com; Aversi Pharma, www.aversi.ge/en

More Low-Carbon Energy News Energy Efficiency,  Energy Management,  


Vestas Wins 25-Turbine Mongolian Wind Farm Order (Int'l Report)
Vestas
Date: 2017-09-01
Copenhagen-headquartered wind turbine manufacturer Vestas is reporting receipt of a 55 MW order for the Sainshand Wind Park in Mongolia. The order includes turbine supply and installation and a 15-year Active Output Management 4,000 service contract. The Sainshand Wind Park, the country's largest, will incorporate 25 V110-2.0 MW turbines in 2.2 MW Power Optimized Mode. Long-term project financing is provided by the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD).

Turbine delivery and commissioning is slated for the first half of 2018. (Source: Vestas, Economic Times, 31 Aug., 2017) Contact: Vestas, +45 9730 0000, www.vestas.com

More Low-Carbon Energy News Vestas,  Wind,  


Green Climate Fund Supporting Egyptian Renewables (Int'l Funding)
Green Climate Fund,EBRD
Date: 2017-08-23
The UN's flagship climate finance Green Climate Fund (GCF) reports it will begin its $150 million loan and $4.7 million grant contribution to a $1 billion renewable energy drive in Egypt next month. The London, UK-headquartered European Bank for Reconstruction and Development (EBRD) will implement the project as well as contribute $2.3 million in grant funding and $350 million of loans. Other international development banks and private sector players are expected to match that investment.

The money, which will support the Egyptian target of generating 20 pct of electricity from renewable sources by 2022, will fund technical assistance with policy and planning and encourage investors to enter the clean energy market.

The GCF, part of the UNFCCC, was established to assist developing countries in adaptation and mitigation practices to counter climate change. (Source: Green Climate Fund, Climate Home, 21 Aug., 2017) Contact: Green Climate Fund, +82.32.458.6010, www.greenclimate.fund EBRD, +44 (0) 207 338 6000, www.ebrd.com; UNFCCC, wwwunfccc.int

More Low-Carbon Energy News UNFCCC,  EBRD,  Green Climate Fund,  Renewable Energy,  

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