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,
firstname.lastname@example.org, www.infinitysolar.com; Masdar, Mohamed Jameel Al Ramahi, CEO, Shaima Al Jarman, Marketing & Communications, +971 02 8109365, email@example.com, www.masdar.ca.ae
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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,
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
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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
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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
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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, firstname.lastname@example.org, www.mashavenergia.com
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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
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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, email@example.com, https://oceansun.no
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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)
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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
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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
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,
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
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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,
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 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
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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
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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)
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The 40-turbine, 120 MW Khalladi wind farm will produce approximately 380 GWh per year -- sufficient power for of a city of 400,000 inhabitants.
The MAD 1.7 billion ($180.4 million) Khaliadi wind farm project was financed by the European Bank for Reconstruction and Development in collaboration with the Clean Technology Fund and the BMCE bank. (Source: ACWA, PR, Monacco World News, 19 Dec., 2017) Contact: ACWA Power,
+966 11 2835555, www.acwapower.com
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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
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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
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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
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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
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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
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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
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The bank is applying its private sector investment model to reducing carbon emissions and fighting climate change with energy efficiency and renewable energy projects as well as promoting the transfer of green technology. to its regions
(Source: EBRD, Global Trade Review, 7 June, 2017)Contact: EBRD, +44 (0) 207 338 6000, www.ebrd.com
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