Clean Energy Policy News
12 September 2016
As one of the biggest beneficiaries of the $9.7 billion US initiative which seeks to double electricity access in Africa, six power projects will be developed across several sites in Kenya following signing of deals between the United States Trade and Development Agency (USTDA) and Kenya. The projects will add 361 megawatts of clean energy to Kenya’s national grid. They include a grant agreement to support the development of a 10-megawatt (MW) solar photovoltaic (PV) project in Gitaru, a 40 MW solar PV power plant in eastern Kenya at Nyakwere Hills and a Solar Microgrid Solutions for Island and Village Electrification at eight locations across Kenya with a combined 1.5 MW of new power generation capacity.
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11 September 2016
India’s largest thermal power generation company, NTPC Ltd will invest $300 million raised as Green Masala Bonds for generating 10,000 MW of solar power by 2022. This is to support India’s mega renewable energy plans to add 175,000 MW by 2022. Masala Bonds are rupee-denominated Bonds issued to overseas buyers, with their green versions aimed at renewable energy projects in India. The company had raised $300 million (Rs 2,000 crores) with a 7.48 per cent annual yield with the new bond listing earlier this month.
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8 September 2016
The Private Financing Advisory Network (PFAN), a clean energy financing advisory group, has announced that it had passed the $1 billion mark in total financing raised for clean energy projects in developing countries. The multilateral public-private partnership, currently transitioning to a new governance and hosting arrangement within the United Nations Industrial Development Organization (UNIDO) and the Renewable Energy and Energy Efficiency Partnership (REEEP), Vienna, Austria, has now raised total financing of $1.2 billion. The financing is being used to build, install and operate 701 megawatts of clean power for 87 projects across Africa, Asia and Latin America. These projects—which include solar and wind farms, biomass and biogas power plants, small hydro generation, decentralized renewable energy minigrids for underserved areas and others—together translate to over 2.6 billion tons of carbon dioxide (CO2) that would otherwise be released into the atmosphere annually.
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17 August 2016
The Asian Development Bank (ADB) has lent US$115mn to Sri Lankan energy projects that will see 100% electrification of the country’s grid. The loan will be bolstered by grants worth US$3.8 million from the Japan Fund for Poverty Reduction and the Clean Energy Financing Partnership, and it will finance a range of projects. Among them will be the construction of renewable energy mini-grids, the improvement of electricity supply in areas impacted by the country’s long civil war, which destroyed substantial electricity infrastructure and those on three islands off the Jaffna coast in northern Sri Lanka.
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15 August 2016
After a period of public consultation, the Argentina Ministry of Energy presented the final specifications of the tender for 600 megawatts (MW) of wind power, 300 MW of solar, 65 MW of biomass, 20 MW of mini-hydro and 15 MW of biogas. The bidding documents are available at the website of CAMMESA (Managing Company of Wholesale Electricity Market). To purchase them, bidders must pay Argentine $150,000, which will be reimbursed to non-selected bidders.
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11 August 2016
On 22 April, the day the Paris Agreement opened for signature, 174 countries and the European Union signed the accord at a high-level ceremony convened by the Secretary General at UN Headquarters in New York. United Nations Secretary-General Ban Ki-moon congratulated Minister of Foreign Affairs of Kazakhstan, Erlan Idrissov, on Kazakhstan’s signing of the Agreement. As of 3 August, the Agreement has 180 total signatories.
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11 August 2016
Recognizing an absence of information about smart cities, their benefits and how to achieve local change, a group of journalists and specialists of the Inter-American Development Bank have developed a practical guide called “The Road Towards Smart Cities: Migrating from Traditional City Management to the Smart City.”
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11 August 2016
The U.S. Trade and Development Agency (USTDA) is expanding its investments in sustainable energy projects across sub-Saharan Africa. An implementing agency of both the Power Africa and U.S.-Africa Clean Energy Finance (US-ACEF) initiatives, USTDA invests in project preparation activities designed to generate renewable and gas-fired power, modernize electric grids and increase energy efficiency. The Agency’s programs are available to help African project sponsors prepare bankable clean energy projects. Interested project sponsors in sub-Saharan Africa—or U.S. companies working with African project sponsors—should submit an initial proposal (not to exceed five pages) to USTDA no later than Monday, September 26, 2016 at 5 p.m. Eastern Time to be considered for funding. To get further information and begin the proposal process, please contact PowerAfrica@ustda.gov. Proposals will be considered for funding under both Power Africa and US-ACEF.
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11 August 2016
International law firm Watson Farley & Williams (WFW) announced it has joined the Solar Energy Standardization Initiative, which aims to spur the development of solar power worldwide by harmonizing documentation and procedures to streamline the development and financing of solar projects. The initiative was launched by the International Renewable Energy Agency and global non-profit organization the Terrawatt Initiative to support the country commitments submitted under the Paris Agreement to attract roughly US$1.2 trillion in solar energy investment by 2030.
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8 August 2016
India’s largest power generation company, publicly owned NTPC Limited, has issued a green bond months after the government directed several companies to raise funds to finance renewable energy projects. NTPC Limited recently reported to the Indian bourses that it raised Rs 2,000 crore (US$300 million) through Green Masala bonds now listed at the London Stock Exchange. The company offered overseas investors an attractive annual coupon rate of 7.48%. Green Masala bonds are rupee-denominated bonds issued to overseas investors.
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