Tag Archives: energy

Sustainable Energy Finance Update: MDBs Offer Broad Energy Sector Support; Off-Grid, Transport, Industry Receive Boost read more: http://larc.iisd.org/news/sustainable-energy-finance-update-mdbs-offer-broad-energy-sector-support-off-grid-transport-industry-receive-boost/

September 2016: The month of August saw several financing announcements that, instead of focusing on a single project, will support many aspects of the energy sector in several countries, in the context of economic and infrastructure development. 

In addition, this Update reports on various initiatives that will support the expansion of off-grid energy access, “green” the public transport sector and increase industrial efficiency. It also includes a new ‘Go-To Resources’ section, which lists newly-released sources of information related to sustainable energy project development.

International finance institutions such as the multilateral development banks (MDBs) are behind many of these funding and capacity-building resources, with a view toward achievement of Sustainable Development Goal (SDG) 7 (Ensure access to affordable, reliable, sustainable and modern energy for all) and, consequently, SDG 13 (Take urgent action to combat climate change and its impacts), as well as the climate change mitigation objective of the Paris Agreement, which was adopted in December 2015.

MDBs Lend Broad Support to Energy Sectors in China, Ecuador, Pakistan, Portugal

The World Bank’s International Finance Corporation (IFC) signed an agreement with the Agricultural Bank of China (ABC) that will help ABC build a green finance portfolio of US$23 billion, beginning with a multi-million-dollar pool of energy efficiency and renewable energy loans. [IFC Press Release]

A US$143 million programme announced by the Inter-American Development Bank (IDB) is aiding Ecuador in creating a more sustainable and reliable energy system. One feature of the programme is supporting an effort to diversify the country’s energy mix. In addition, the loans will strengthen transmission to bring new sources of electricity online and expand distribution to bring new users online, including in rural and earthquake-affected areas. The National Program for Efficient Cooking will also receive support. [IDB Press Release]

Transmission is receiving a boost in Pakistan too, where increasing demand for electricity is coupled with the need for better reliability and quality of supply. A US$810 million Asian Development Bank (ADB) loan that will be delivered in multiple tranches will help rehabilitate and expand the country’s transmission network. [ADB Press Release]

As part of a €750 million investment in the Portuguese economy, the European Investment Bank (EIB) is supporting small and medium projects focused on, among other things, renewable energy and energy efficiency. [EIB Press Release]

Renewable Energy Projects Pipeline Continues to Grow…

In addition to the more general energy sector funding, the pipeline of specific renewable energy projects continues to grow, with announcements in the biomass, wind and hydro sectors.


IFC, the Government of Canada and the World Bank’s Climate Investment Funds (CIF) Clean Technology Fund (CTF) are supporting the construction of three biomass plants in the Philippines with a loan of US$161 million. Totaling 70 megawatts (MW) of capacity, the plants will be fueled by sugarcane waste, diverting it from being burned in fields. [IFC Press Release]

In Brazil, the company CerradinhoBio, which produces electricity and biofuel from sugarcane, is the recipient of BRL150 million in long-term financing from IFC. The funds will help the company increase its production of bioethanol by 28% and more than double its biomass-based electricity production. [IFC Press Release]

Wind Power

On 11 August, Jamaica welcomed the start of operations of its largest private-sector renewable energy project – a 36 MW wind farm. The Overseas Private Investment Corporation (OPIC), IFC and the Government of Canada contributed a US$62.7 million financing package to the project. [IFC Press Release]

Water Power

Tanzania is setting its sights on the Kikonge Multipurpose Dam, Irrigation and Hydropower Project, with a €2 million grant from the African Development Bank (AfDB)-managed African Water Facility (AWF), which will fund the pre-feasibility study. The project is expected to result in a 300 MW hydroelectricity station, which will increase the country’s hydropower capacity by 53%. A high voltage transmission line and irrigation scheme will also accompany the project. [AfDB Press Release]

With a view to influencing policy to promote the sustainability and business operations of the hydropower sector in Myanmar, IFC and private, public and civil society stakeholders launched a working group with a General Forum on 18 August in Yangon, Myanmar. The group will focus on improving hydro’s private sector relations with government and promoting best practices for developing projects sustainably. [IFC Press Release]

Off-Grid is Off and Running in Niger, Ethiopia, the Philippines

The AfDB-hosted Sustainable Energy Fund for Africa (SEFA) announced a US$994,270 grant to help the Government of Niger prepare a green mini-grid policy, regulations and an enabling framework that will promote market-driven private investment and development in the country’s green mini-grid sector. [AfDB Press Release]

The World Bank’s Carbon Initiative for Development (Ci-Dev) signed an Emissions Reduction Purchase Agreement (ERPA) with the Development Bank of Ethiopia (DBE) to provide additional funding to the Electricity Network Reinforcement and Expansion Project (ENREP). The purchase of GHG emissions reductions will help finance ENREP’s work to promote solar home systems, specifically its need to address concerns over insufficient warranties and battery replacements. A tracking and enforcement system to ensure warranties are honored completely and consistently by the private solar suppliers will be demonstrated, and a subsidy supported through carbon revenues will enable battery replacements. [World Bank Press Release]

US$3 million from the World Bank’s Global Partnership on Output-Based Aid (GPOBA) and US$12.8 million from the EU will provide 40,000 families located in remote, off-grid areas of the Philippines with access to solar energy. [World Bank Press Release]

Clean(er) Transport Energy in Kazakhstan, Morocco

With the support of a US$18.8 million European Bank for Reconstruction and Development (EBRD), the city of Kyzylorda, Kazakhstan, will purchase 92 compressed natural gas (CNG) buses, providing cleaner, more efficient public transport. EBRD announced that the first 50 buses arrived in the city at the beginning of August. [EBRD Press Release]

The Bus Rapid Transit (BRT) system in Marrakesh, Morocco, is set for a low-carbon upgrade through a US$1,319,863 grant from the Global Environment Facility (GEF) and co-financing of US$56,173,683. The funds will facilitate development of a 1 MW High Concentration PhotoVoltaics (HCPV) solar farm that will power the electric buses of the BRT system. [GEF Project Webpage]

Making Industry More Efficient in Bosnia and Herzegovina, Turkey

The chemical maker Sisecam Soda Lukavac, which is a subsidiary of Turkey’s Sisecam Group that produces soda ash in Bosnia and Herzegovina, is receiving a €8.9 million loan from IFC to help it increase energy efficiency with a new boiler and make other environmental improvements through a filtering station and advanced effluent treatment. [IFC Press Release]

Turkey’s Assan Aluminum, a Kibar Holding subsidiary that manufactures flat-rolled aluminum products, will increase its resource efficiency by modernizing two existing furnaces, installing five new furnaces and improving overall plant maintenance, thanks to a US$55 million IFC loan. [IFC Press Release]

Also in Turkey, EBRD is helping the oil refiner Tüpraş reduce energy and water use, loaning the company US$150 million to modernize two refineries with the aim of lowering energy intensity and carbon dioxide (CO2) emissions. [EBRD Press Release]

Go-To Resources

  • Finance Guide for Policy-Makers: Renewable Energy, Green Infrastructure – 2016 Update: Noting how important it is for policy makers and non-financiers to understand and interface with the financial community in light of the Paris Agreement and the accompanying nationally determined contributions (NDCS), Bloomberg New Energy Finance (BNEF) produced this guide to give an overview of sources of capital, what the capital markets do, how transactions work, and more. [BNEF Press Release]
  • Comparative Analysis of Approaches to Geothermal Resource Risk Mitigation: A Global Survey: Available in both English and Spanish, this report presents the numerous approaches used around the world to mitigate risks and spur investment in geothermal. The World Bank’s Energy Sector Management Assistance Program (ESMAP) developed the report to help decision makers “identify suitable approaches that align with development goals, funding capacity, implementation capabilities, and other country-specific contexts.” [World Bank Press Release]
  • INFRALATAM: The Economic Commission for Latin America and the Caribbean (ECLAC), the Development Bank of Latin America (CAF) and IDB created this website as a database of infrastructure investments, including energy projects, in 15 Latin American and Caribbean countries for the period 2008-2013. The data will support work toward SDG 9 (Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation). [IDB Press Release][ECLAC, IDB, CAF Launch Infrastructure Database]
  • A Greener Path to Competitiveness: Policies for Climate Action in Industries and Products: Also with a focus on SDG 9, the World Bank produced this report to demonstrate how industry can both reduce emissions and increase competitiveness. The guide helps industries focus on the most cost-effective and energy-efficient options, while also recommending ways government policies and institutional frameworks can help industry chart a climate-friendly path to competitiveness. [World Bank Press Release]
  • Mini-Grids Information Portal: Specifically focused on Tanzania, IFC launched this portal as a comprehensive repository of information for investors interested in developing renewable energy mini-grids in the country. [IFC Press Release]


IISD RS publishes the Sustainable Energy Finance Update monthly, focusing on announced funding for sustainable energy projects and other sustainable energy finance-related developments from international financial institutions. Climate finance news and developments outside of the sustainable energy sector are included in IISD RS’s monthly Climate Finance Update, available via the Climate Change Policy & Practice portal. [IISD RS Climate Finance UpdatesMore

Leave a comment

Filed under SIDS

SE4All Highlights Plans for Implementing SDG 7

25 March 2016: The Special Representative of the UN Secretary-General (SRSG) for Sustainable Energy for All (SE4All), Rachel Kyte, highlighted challenges to achieving Sustainable Development Goal (SDG) 7 (Ensure access to affordable, reliable, sustainable and modern energy for all).

Briefing UN Member States and civil society, she also provided an update on the SE4All initiative's plans for supporting implementation of the Goal.

Kyte emphasized that Goal 7 has three “pillars,” addressing energy poverty, technological advancement, and investment in energy efficiency. Stressing the interlinked nature of the Goal, she said the first pillar, addressing energy poverty, is essential to leaving no one behind, noting that the electricity access gap undermines education, productivity and economic growth, while the gap in access to clean cooking fuels is detrimental to health and gender inequality. On technological advancement, Kyte noted the past decade's reductions in the cost and complexity of renewable energy, which makes on-shore wind, solar photo voltaic, and other technologies more competitive with fossil-based energy sources. On energy efficiency, she said greater investment has made it possible to provide basic electricity services using much less power.

Despite this positive progress, Kyte warned that global economic trends have slowed the momentum for electrification, renewables, efficiency and clean cooking. She said the global energy transition is not taking place at a sufficient pace to meet the temperature goal set out in the Paris Agreement on climate change, or the broader development goals expressed in the 2030 Agenda.

Kyte also stressed that the financial needs to achieve SDG 7, which are estimated at over US$1 trillion annually, will need to come from both private and public sectors. She highlighted the importance of small-scale, private investments to develop renewable energy in many African countries.

On the role of the SE4All initiative in supporting the achievement of SDG 7, Kyte said the Forum's 2017 meeting will assess progress and provide substance for the High-level Political Forum on sustainable development (HLPF) and the UN system as a whole in its review of progress towards the SDGs. In the meantime, SE4All is developing a framework for addressing challenges faced by Member States in achieving SDG 7. Member States will have opportunities to provide input on this framework throughout May 2016, Kyte said, and the SE4All Advisory Board will consider the framework at its meeting, on 15-16 June 2016. [Event Webcast] [SE4All Website]


Comments Off on SE4All Highlights Plans for Implementing SDG 7

Filed under alternative energy, energy security, otec, renewable energy, SIDS, solar, wind

Energy Day Launches Major Initiatives on Renewables, Efficiency and Access

7 December 2015: A number of major cooperative initiatives on renewable energy, energy access and energy efficiency were announced during Energy Day at the Paris Climate Change Conference. Hundreds of participants from governments, businesses and financial institutions participated in the event held as part of the Lima-Paris Action Agenda (LPAA) Focus on Energy.

The UN and partners launched a US$5 billion effort to expand renewable energy in Africa. The amount will come from public and highly concessional finance between 2016 and 2020, with an additional US$15 billion in leverage from the Green Climate Fund, and other bilateral and multilateral sources.

Secretary-General Ban Ki-Moon underscored the importance of the initiative, saying, “A global energy transformation must reduce heat-trapping emissions. It also needs to ensure that we leave no one behind. Those things can only be achieved if we tackle the issues of energy access, energy efficiency, and renewable energy together as a trinity.”

The Africa Renewable Energy Initiative (AREI) was launched to spur the installation of 10 gigawatts (GW) of new and additional renewable energy capacity on the continent by 2020. By 2030, the initiative aims for renewable energy installations totaling 300 GW—double the 150 GW in electricity generation from all sources in Africa today. The initiative is being led by the African Union's New Partnership for Africa's Development (NEPAD), the African Group of Negotiators, the African Development Bank (ADB), the UN Environment Program (UNEP) and the International Renewable Energy Agency (IRENA). [UNFCCC Press Release]

The Africa Clean Energy Corridor (ACEC) announced plans for a similar corridor in West Africa. Like ACEC, which operates in East and Southern Africa, the West African Clean Energy Corridor is to serve as a platform for the accelerated deployment and scaling-up of renewable energy, helping to meet rising demand and foster Africa's economic growth without adding to global climate risks. [ACEC Brochure]

The Global Geothermal Alliance (GGA), a partnership of 36 countries and 23 institutions, aims to deliver a five-fold increase in the global installed capacity for geothermal power, and a doubling of geothermal heating, by 2030. [IRENA Press Release]

The Global Environment Facility (GEF) announced US$2 million in funding to kick-start a clean-energy investment initiative called the Climate Aggregation Platform (CAP). The CAP, to be launched in Spring 2016, is expected to leverage over US$100 million in co-financing from the Inter-American Development Bank (IDB) and other partners to promote low-carbon energy assets and low-cost financing for these assets in developing countries. [GEF-UNDP-Climate Bonds Joint Press Release]

Saint Lucia will become the 29th island to join the Small Island Developing States (SIDS) Lighthouses Initiative. To date, 18 SIDS have developed renewable energy roadmaps through the initiative, which has also facilitated US$150 million in financing and the deployment of 18 megawatts (MW) of renewable power. Starting in Africa and Latin America, the Sustainable Energy Marketplace will serve as a matchmaking platform to bring together investors with renewable energy projects. The Marketplace intends to house 100 projects by the beginning of 2016 and to mobilize US$10 billion in project financing by 2019. [Sustainable Energy Marketplace Brochure]

Other energy-related announcements at the Paris Conference include the International Solar Alliance (ISA), an initiative led by the Governments of India and France that has garnered the support of 120 countries. Among other commitments, the supporting countries express their intention to collectively mobilize more than US$1000 billion by 2030 to scale up solar energy deployment. [UNFCCC Press Release] [IISD RS News Story]

Royal Philips committed to become carbon neutral by 2020, after the company cut its carbon footprint by 40% between 2007 and 2015. Speaking at the Energy Day Summit, Eric Rondolat, Chief Executive Officer, Philips Lighting, urged leaders to set more aggressive targets, cautioning against “a potentially catastrophic rise in global temperatures.” He lauded energy efficiency as a critical goal, saying that, “Faster adoption of LED lighting, and a drive to renovate existing city infrastructure and greater use of solar-powered LED lighting would have a huge impact.” [Philips Press Release]

The LPAA is a joint undertaking of the Peruvian and French COP presidencies, the Office of the UN Secretary-General and the UNFCCC Secretariat. It is convening on the sidelines of the 21st session of the Conference of the Parties (COP 21) to the UNFCCC. The LPAA hosted the event together with the Sustainable Energy For All (SE4All) initiative and International Renewable Energy Agency (IRENA). [IRENA Press Release] [SE4All Press Release] [IISD RS Coverage of Energy Day] More


Comments Off on Energy Day Launches Major Initiatives on Renewables, Efficiency and Access

Filed under renewable energy

Caribbean States ‘lighting path’ towards sustainable future, says UN chief in Barbados

“I want to salute Caribbean countries for taking on ambitious renewable energy targets. By 2020, for example, Barbados will be one of the world’s top five leading users of solar energy on a per capita basis. You are lighting the path to the future,

Secretary-General Ban Ki-moon My main message to you is to remain fully engaged and keep working with us to strengthen our partnership during this vital year for humanity. Together, we can build a better, more sustainable world, for all.said during a high-level symposium focused on sustainable development in the Caribbean.

This meeting was among the UN chief’s first stops in Barbados, where later on Thursdayhe is expected to make opening remarks to the 2015 Caribbean Community (CARICOM) Summit, and where tomorrow, he will, among others, hold an interactive dialogue at the University of the West Indies.

“Twenty years ago, this very building was the site of the First Global Conference on Small Island Developing States that adopted the Barbados Programme of Action – the first compact between this group and the international community,” he noticed

For small island developing States, Ban added, this space is “hallowed ground.”

Encouraged by the presence of so many leaders of governments, regional and international organizations, the private sector, academia, and civil society, the Secretary-General highlighted the “continuing Caribbean commitment to put our world on a safer, more sustainable and equitable pathway,” a few days from theThird International Conference on Financing for Development in Addis Ababa, Ethiopia.

“As leaders of some of the most vulnerable countries in the world, you don’t need to be told that our planet is at grave risk. You are on the climate frontlines. You see it every day,” he continued.

Convinced that sustainable development and climate change are “two sides of the same coin,” the UN top official went on to say that this generation could be the first to end global poverty, and the last to prevent the worst impacts of global warming “before it is too late.”

To get there, he underlined, the international community must make sure that the proposed sustainable development goals (SDGs) are “focused, financed and followed up – with real targets, real money and a real determination to achieve them.”

Considering these goals as a sort of a “to-do list for people and the planet”, Ban emphasized that it will take partnerships to make that happen. In that regard, he said, the Third International Conference on Small Islands Developing States in Samoa last year laid a pathway for collective action and success within the post-2015 development agenda.

But, as the world prepares for a new sustainability framework and the sustainable development goals, a number of critical partnership areas must be strengthened, in particular the need for capacity building; financing; access to technology; and improved data collection and statistics.

Member States also must continue working together to link the global agenda to regional agendas and to deepen regional integration and to address the “unique needs and vulnerabilities” of small island developing states and middle-income countries, such as the debt challenge.

“And we need to keep forging the way forward towards a low-carbon, climate-resilient development pathway that will benefit both people and the planet,” the Secretary-General underlined.

He gave the assurance that, through the Green Climate Fund, and in working with world leaders, he will continue to insist that small islands and least developed countries are top funding priorities.

“My main message to you is to remain fully engaged and keep working with us to strengthen our partnership during this vital year for humanity. Together, we can build a better, more sustainable world, for all.”

Later, in an address to an event on ending violence against women, the Secretary-General said the Caribbean has among the highest rates of sexual assault in the world. Three Caribbean countries are in the global top ten for recorded rapes. Moreover, he noted that in the eastern Caribbean, UNICEF estimates that child sexual abuse rates are between 20 and 45 per cent – meaning at least one in five precious children are affected. Most are girls who have no choice but to live close to their attacker.

“They desperately need our help. Too many women are afraid to seek help. One study showed that up to two thirds of all victims suffer without ever reporting the crime. I am outraged by this. Shame belongs to the perpetrators – not the victiWe have to change mindsets – especially among men,” declared the UN chief.

In that light, he said he was proud to be the first man to sign onto the UN’s HeForShecampaign, and he invited more men to take the HeForShe pledge.

“I encourage you to join UNICEF’s End Violence global campaign. And every day, I count on all of you to work for true equality.”

In the margins of the 36th meeting of the Conference of Heads of Government of the Caribbean Community in Barbados, the Secretary-General met with Prime Minister Freundel Stuart, and Minister for Foreign Affairs and Foreign Trade, Maxine McClean, of Barbados, a country he congratulated for its upcoming leadership of CARICOM. More



Comments Off on Caribbean States ‘lighting path’ towards sustainable future, says UN chief in Barbados

Filed under alternative energy, energy, energy security, otec, renewable energy, solar, wind

Cayman Renewable Energy Association Launches

Cayman Renewable Energy Association launched last week. In this segment we learn more about the group’s mission and what they see as the next step in implementing alternative energy in Cayman.

James E. Whittaker of GreenTech Group of Companies and Jim Knapp of Endless Energy talk to Vanessa Hansen of Cayman 27 about the premise of the organiization and why it’s important to have the association in Cayman.

Leave a comment

Filed under alternative energy

Latin America And Caribbean Region Expected To Install 9 GW Of Solar In 5 Years

That solar photovoltaic (PV) technology is poised to become a dominant energy generation technology throughout the world is of no surprise to most, but the sheer wealth of possibility being forecast throughout the middle and southern hemispheres begins to give an idea of just how prevalent the technology will be by the end of the decade.

Figures published by NPD Solarbuzz have so far predicted that several of the major Asia Pacific nations will account for 60% of solar PV demand in 2014, while being primary drivers of growth over the next several years, at the same time as the Middle East and Africa region currently has close to 12 GW of solar demand in the pipeline.

So it should really come as no surprise that NPD Solarbuzz’s recent figures show that the Latin America and Caribbean region is set to install 9 GW of solar PV over the next five years.

Latin America and Caribbean Five-Year Cumulative Demand Forecast by Project Status

“Solar PV is now starting to emerge as a preferred energy technology for Latin American and Caribbean countries,” said Michael Barker, senior analyst at NPD Solarbuzz. “The region has high electricity prices and it also benefits from strong solar irradiation, which makes it a good candidate for solar PV deployment. As a result, experienced global solar PV developers are seeing strong solar PV growth potential in the region.”

NPD Solarbuzz’s Emerging PV Markets Report: Latin America and Caribbean shows that the total PV project pipeline now exceeds 22 GW of projects across all stages of development — with 1 GW of projects already under construction, and another 5 GW of projects have received the appropriate approval to proceed.

The Latin America and Caribbean region was previously home to many small-scale and off-grid solar PV applications, however governments are now looking to solar PV to address large-scale utility power requrements — specifically in Brazil, Chile, and Mexico.

“Many countries across the LAC region have the potential to develop into major solar PV markets in the future,” added Barker. “While project pipelines vary by country, there is a strong contribution from early-stage developments that have yet to finalize supply deals or find end-users to purchase the generated electricity, which presents both risks and opportunities for industry players.”

A number of countries throughout the developing and second-world countries are turning to renewable energy technologies to develop strong, future-proof, and economically efficient energy generation. Such a trend is being backed by major manufacturing companies who are focusing their efforts on these regions, hoping to increase their own profits while fulfilling renewable energy demand. More


Comments Off on Latin America And Caribbean Region Expected To Install 9 GW Of Solar In 5 Years

Filed under alternative energy

OAS Workshop Seeks to Improve Caribbean Sustainable Energy Projects

20 August 2014: A regional workshop organized by the Organization of American States (OAS) discussed how to improve donor interventions regarding sustainable energy projects in the Caribbean.

The workshop, titled 'Development of Sustainable Energy Projects: Experiences, Strategies and Implementation,' took place on 19 August 2014 in Saint Lucia. The event brought together major donors for Caribbean energy projects with country representatives to: examine current and planned sustainable energy projects; discuss local barriers to commercialization of sustainable energy; identify Caribbean country project priorities and gaps in current assistance; and look at ways to foster collaboration and complementarity between projects.

During the opening session, OAS consultant Christina Becker-Birck provided an overview of the 80+ energy initiatives in the region, amounting since 2004 to around US$129 million in technical assistance and grants, about US$108 million in loans and lines of credit, with at least US$100 million pending and planned.

Philipp Blechinger, Reiner Lemoine Institut, outlined the results of a survey on barriers to the development of renewable energy technologies for power generation on Caribbean island States. Carolina Peña, OAS Sustainable Development Department (DSD), outlined OAS energy interventions in the region.

During a roundtable discussion on learning from success stories and failures, the Organization of Eastern Caribbean States (OECS) detailed its Sustainable Energy Programme on technical assistance and energy labeling. The Carbon War Room discussed its 10 Island Challenge to catalyze private investment and produce a Ten Island Renewable Roadmap/Blueprint. The Caribbean Development Bank outlined the proposed Sustainable Energy for the Eastern Caribbean (SEEC) and Geothermal Drill Risk Facility projects. The EU provided an overview of its support for energy projects in the region, and the Clean Energy Solutions Center (CESC) outlined its technical support.

The workshop was organized by the OAS DSD in the framework of the Sustainable Energy Capacity Building Initiative (SECBI) of the Energy and Climate Change Partnership of the Americas (ECPA). More



Comments Off on OAS Workshop Seeks to Improve Caribbean Sustainable Energy Projects

Filed under caribbean sids