27 November 2015 2015 01:25 AM GMT

Inter-American Development Bank Approves Funding for Green Bond Facility

The Inter-American Development Bank has approved financing to establish a regional Energy Efficiency Green Bond Facility.

The program was selected to receive up to US$217 million in additional funding as one of eight projects worldwide in the first round of allocations announced by the Green Climate Fund on November 6. “This private sector program stands out for its innovative financial approach, involving small and medium enterprises and the potential mobilization through capital markets of funds from different institutional investors such as pension funds and insurance companies,” said Gema Sacristan, IDB’s Financial Markets Division Chief.

Providing an alternative financing mechanism for energy efficiency projects through the issuance of green asset-backed securities, the program will also contribute to the development of capital markets in the region. The program will introduce green ABS following the Green Bond Principles standards and will foster socially and environmentally responsible investments.

“The approval of this program furthers our commitment to supporting Latin American and Caribbean countries in the implementation of their proposed Intended Nationally Determined Contributions,” said Amal-Lee Amin, IDB’s Climate Change and Sustainability Division Chief. “Tapping into domestic capital markets for refinancing of energy efficiency is key for increasing scale of investment for de-carbonization over the medium and longer-term.”

Mexico will be the first country to implement this program, followed by the Dominican Republic, Jamaica, and Colombia. The IDB’s loan of up to US$400 million will be complemented by a loan of up to $50 million from the China Co-Financing Fund, administered by the IDB, in connection with the first utilization of the Facility in Mexico.

August 16th 2019
Corporate Sourcing of Renewables Growing, Taking Place in 75 Countries

Companies in 75 countries actively sourced 465 terawatt hours (TWh) of renewable energy in 2017, an amount close to the overall electricity demand of France, according to the report from the International Renewable Energy Agency (IRENA). With the continued decline in the costs of renewables, the report suggests, corporate demand will continue to increase as companies seek to reduce electricity bills, hedge against future price spikes and address sustainability concerns.

August 14th 2019
Wind: China Maintains Emerging Markets Top Spot Following 19.7GW Build Boom

Wind industry intelligence service A Word About Wind has launched its Emerging Markets Attractiveness Index report for 2018, which provides insight and analysis into the most attractive emerging markets for wind companies. The index, now in its second year, ranks the top 30 emerging markets that investors should consider when investing in wind in Europe, Africa, Asia and Latin America. The list considers factors including political and economic stability for investors, alongside the growth of electricity demand and potential for wind growth, in order to rank the countries by overall potential. As with last year’s report, China tops the list and the ongoing trade war with the US shows no sign of slowing China’s formidable growth.

August 9th 2019
Arsenal Unveil Battery Storage System: First Of Its Kind At A UK Football Club

Arsenal Football Club has unveiled a battery storage system (BSS) to store enough energy to run the 60,000 seater Emirates Stadium from kick-off to full time. It follows a unique collaboration with Pivot Power to install a 2MW/2.5MWh lithium ion BSS, with funds managed by Downing LLP. The project, the first of its kind in the UK, will also save club money as it works to support low-carbon plans. The BSS allows Arsenal to avoid peak power prices, buying electricity when it is cheap and storing it for use when prices are high. Typically, energy can cost three times more at peak times than overnight. The installation maintains Arsenal as the leader in sustainability in sport following its commitment to clean energy with Octopus Energy in 2016.

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