RGREEN INVEST, through its INFRAGREEN equity funds, and Renalfa Solarpro Group have entered into an agreement to establish a joint venture (JV) named Renalfa Power Clusters (RPC). The partners have jointly committed €200 million in equity to the JV. The JV company will finance the development and construction of a renewable energy portfolio valued at approximately €800 million.
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Methane abatement is one of the most cost-effective, high-impact and underfinanced climate actions available today. Indonesia stands at the cusp of a taxonomy design upgrade that could unlock the resources to cap landfills, deploy biodigesters, and transform rice paddies, turning methane from a problem into an opportunity. By embedding robust and granular criteria for methane significant sectors, Indonesia can unlock capital and finance the “fast wins” on methane and chart a course for others to follow.
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Vietnam’s regulatory framework for green finance is evolving positively, supported by government commitment and international collaboration, aiming to integrate green credit into the banking sector and promote sustainable economic growth. Key initiatives include the Prime Minister’s strategies to increase green credit to 10% of total loans by 2025 and up to 25% by 2030, alongside guidance from the State Securities Commission and the State Bank of Vietnam on green bonds and environmental risk management. Despite these efforts, Vietnam faces challenges in defining what “green” truly means within its financial strategies, risking ambiguities in defining “green projects” and this ambiguity not only hampers the effective implementation of green finance initiatives but also undermines investor confidence, which is crucial for attracting necessary capital.
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Asia and the Pacific urgently needs to close the climate-related insurance gap. Solutions like green bonds, parametric insurance, and adaptation financing emphasize partnerships, nature-based investments, and tech-driven risk assessments to boost resilience. Insurance coverage in Asia and the Pacific is facing a growing gap between the losses caused by climate-related disasters and the amount of money that is actually protected by formal policies. This shortfall has created heightened financial risks for businesses, governments and communities. Insurance can be an important tool to address these issues and a powerful catalyst for resilience.
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Chancellor Rachel Reeves’ recent Mansion House speech stressed the importance of economic growth and gave a strong signal of the Treasury’s commitment to sustainability. Her speech included announcements on topics from pensions to digital gilts, and consultations were launched on the UK’s Green Taxonomy, regulation of ESG ratings providers and much more. However, the long-awaited transition plan consultation was again absent – now due in “the first half” of next year. This blog examines what was announced on the UK’s disclosure regime and what needs to happen next on transition plans, interoperability and international leadership to realise the government’s goal of the UK as the “world’s leading green [and transition] global financial centre”.
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Greenzo Energy Pvt Ltd has secured a deal to develop and install a 120 MW solar park project in Nepal. This engineering, procurement, and construction (EPC) contract is valued at Rs 5 billion and is expected to boost Greenzo Energy’s order book to Rs 19 billion. The company will oversee the complete execution of the project.
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The European Investment Bank (EIB) has signed a €120 million loan with Iberdrola to support the advancement of energy technology research and innovation, accelerating the electrification and decarbonisation of the economy. The total investment linked to these projects is valued at €250 million. This funding will be directed toward the development of renewable energy technologies, including solar photovoltaic, hydro, and wind power, as well as hybrid and agrovoltaic projects.
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ReNew, one of India’s leading renewable energy company, has signed a Memorandum of Understanding (MoU) with Societe Generale, which will support the former’s plans to expand its renewable energy portfolio in India and globally. This MoU includes USD 1 billion of financial support over the next three years. The financial support includes debt financing as well as advisory solutions.
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The annual running costs of the UK’s £188.2 billion (USD equivalent, $257.1 billion) estate is £22 billion. The most recent report on the State of the Estate (2021-22), an annual publication since 2011, shows that emissions of the estate fell by 35% over five years. Making the UK’s public capital stock climate neutral requires improving operational efficiency but crucially hinges upon upgrading public buildings, energy and transport infrastructure. What can less developed countries learn from the UK’s experience when greening their estate?
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Climate-tech companies raised $51 billion in venture capital and private equity funding across more than a thousand deals tracked by BloombergNEF last year. Though this was 12% lower than 2022, the slide was a fraction of the 35% reported for all startups by Pitchbook. Most of the funding went to low-carbon energy and low-carbon transport companies. From a deals perspective, BNEF’s Climate-Tech VC/PE Investment Database shows a 15% decline in the number of deals completed in 2023 compared to 2022.
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This report “North Africa’s Policies And Finance For Renewable Energy Deployment” by IRENA highlights North Africa’s large renewable energy potential and explores its current policy environment to support the energy transition and the deployment of renewable energy in the coming years.
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COP28 Finance Day unlocked significant progress on international financial architecture reform to support low-income and vulnerable countries to fight climate change. Major international financial institutions and countries made new commitments to offer climate-resilient debt clauses (CRDCs) in their lending.
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MaxSolar, a German company that produces renewable energy, has announced that it has obtained €410 million in financing for solar projects throughout Germany. Over the following five years, with the help of the finance, the company will construct 2 GW of solar production capacity. The funds will be dispersed in two installments, each worth $185.1 million and $274.9 million, and it will be used to construct solar capacity from MaxSolar’s project pipeline.
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The report has been authored by ASEAN Centre for Energy. The key objectives of the roadmap are: to identify progress and issues in attracting investments and sustainable financing for energy infrastructure and technologies in ASEAN and to identify key priority areas and actions in building up regional capabilities on clean energy investments.
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Colombia Sustainable Finance State of the Market 2022 identifies sustainable investment opportunities in Colombia in accordance with the Colombian Green Taxonomy and the potential for green and other thematic instruments to attract investment to the country. The report describes the shape and size of the local green, social, sustainability, and sustainability-linked (GSS+) debt market.
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The need to scale up the deployment of technologies such as green hydrogen, energy storage and offshore wind has become increasingly critical to the success of the global energy transition and to meeting global climate goals. The report offers lessons from historical cost reduction trends for solar PV and onshore wind technologies, enabling innovative frameworks that can adopted to accelerate the deployment of new and critical low-carbon technologies.
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Power Capital Renewable Energy, an Irish independent power producer, has secured €240 million in financing to bring 1.2 GW of solar capacity online by 2025. The construction equity facility was given by a consortium of lenders managed by Eiffel Investment Group, which included Belgian insurance company Ethias and the European Investment Bank.
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The climate crisis is a defining challenge for Asia and the Pacific, which as a region is the most vulnerable to global warming, and a significant contributor to its cause. Yet, it is not all doom and gloom. Driven by a combination of climate change, finance, and digital technology —collectively known as ‘climate fintech’ — the financial services industry is preparing to address these challenges and capture opportunities for transitioning to a more sustainable economy.
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Aspen Power Partners, a US-based solar energy company, has sold a “significant” stake in itself to funds managed by global investment firm Carlyle for $350 million. Aspen plans to use the sale’s revenues to further its organic and acquisition-driven growth strategies in the community, multifamily, and commercial and industrial (C&I) solar and storage markets.
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Capital Dynamics, an independent global private asset management company, has closed its latest clean energy fund with capital commitments totaling $508 million. Capital Dynamics Clean Energy Infrastructure IX (CEI IX) exceeded its $293 million target by approximately 75 per cent.
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