UK solar and wind asset owner Greencoat Renewables is eying an IPO to raise as much as €250 million (US$280 million) to pursue additional wind and solar projects across Europe.
The World Bank announced last week that its Board of Executive Directors approved the Second Energy Sector Project, which will help strengthen Mongolia’s electric grid and develop a 10MW installation within the country.
Renewable energy is indeed the future, according to Bloomberg New Energy Finance’s latest report, which forecasts technologies such as wind and solar to “dominate” the future of electricity by 2040, making up 48% of the world’s installed capacity and 34% of electricity generation.
UK alternative investment firm Ingenious has teamed with Australian developer Stellata Energy for a landmark joint venture to develop large-scale solar energy in Australia, including a flagship 120MW ground-mounted project.
The European Bank of Restructuring and Development (EBRD) is financing a second solar park in Kazakhstan following the 50MW Burnoye Solar 1 established in April 2014.
Whilst African solar is still firmly an emerging market, investors have confirmed that issues remain with development finance, insofar as it is holding back the market from truly taking off. Whilst development finance institutions (DFIs) are a crucial part of allowing the market to find its feet, the continent’s economic infrastructure needs to move beyond the realm of development finance for commercial financiers to be enticed.
