Ireland-based Greencoat Renewables has announced the acquisition of two windfarms from Starkraft under a forward sale model for Euro 123 million. The first of them is the Cloghan wind farm with a capacity of 37.8 MW which is located in the county of Offaly. The second is the Taghart wind farm located in the county of Cavan.
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The African Development Bank has approved a $7 million grant from the Sustainable Energy Fund for Africa (SEFA), for technical assistance in setting up a mini-grid acceleration initiative. It aims to boost energy access in remote regions and enhance climate resilience in Africa.
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Orix, a Japanese financial conglomerate, plans to invest around $980 million in Greenko Energy Holdings, an Indian renewable energy company. Orix is set to take a stake of more than 20 per cent in Greenko and the deal is expected to close within this year. This has been one of the largest investments made by the Japanese company overseas as it steps up its investments in clean energy.
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The German government is publishing its first framework for Green German Federal Securities to strengthen the country’s position in the area of sustainable finance and make its “green” budget spending more transparent.
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Duke Energy Renewables, a subsidiary of Duke Energy, has closed a preferred tax equity funding of $109.4 million from Goldman Sachs’ Alternative Energy Investing Group. This investment will be used to implement around 75 MW of solar and solar with energy storage projects over an 18-months period.
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GE Renewable Energy has announced that it will supply 13 wind turbines to the 68.9 MW E energija Telšiai onshore wind farm in Lithuania. As part of the partnership, GE will also provide a 25-year full services agreement for the wind project.
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The Asian Development Bank (ADB) has approved a $73.39 million concessional loan and grant to the Government of Maldives to develop a waste treatment facility using waste-to-energy (WTE) technology and disposal infrastructure for the Greater Malé region and neighboring outer islands.
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Qatar’s 800 MW Siraj 1 solar project has reached financial closure with the Japan Bank for International Cooperation (JBIC) and Mizuho Bank agreeing to finance the construction of the project. The Japanese lenders have signed a $330 million syndicated loan according to the Qatar General Electricity and Water Corporation.
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BHP is exploring options to exit thermal coal by divestment. Its thermal coal assets have seen a serious erosion of viability and are on track to deliver an operating loss in 2019-20. The growing momentum to acknowledge the 2015 Paris Agreement, coupled with ongoing double digit annual solar cost deflation presents a challenge to the thermal power sector.
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Norwegian state-owned multinational energy company, Equinor has announced the financial results for the second quarter of 2020.
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sPower, a leading renewable energy independent power producer, has closed a term loan financing of over USD 700 million for the construction of a 620 MW solar project in in Spotsylvania County, Virginia.
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The European Investment Bank (EIB) has announced that it will provide strategic financial advice and support to RenFuel (Sweden), Bioforever (Netherlands) and Magaldi (Italy) to help prepare their climate action projects for potential financing.
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Listed renewable power portfolios have outperformed listed fossil fuel portfolios in all geographies. Moreover, during periods of high market and oil price volatility, fossil fuel portfolios experienced larger drawdowns than renewable portfolios.
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According to sources, a third of the funds will be invested in offshore wind farms, one third in onshore wind and solar and the final third in technologies like biomass, waste-to-energy, transmission and storage solutions. Geographically, the investments will be split roughly between North America, Western Europe, and developed Asia-Pacific markets.
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The Chinese green bond market is in a clear upward trajectory expected to continue in the years ahead. However, there are opportunities for policymakers and investors to increase the rate of growth.
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