UN-, Netherlands-backed fund will invest US$850m in 1.7GW clean energy pipeline in African, Asian states, with solar meant to account for 40% of portfolio.
Aventron signs EPC contracts with Solarpack for 100MW of post-subsidy solar in Spain, EBRD and FMO back 30MW solar plant in Ukraine, NTPC gets investment approval for 160MW of solar in Uttar Pradesh.
The EBRD, IFC and Dutch Development Bank (FMO) have announced a partnership to finance improvements to Turkey’s electricity distribution network in the country’s Osmangazi region in western Anatolia.
Indian solar developer Azure Power has secured US$135 million in debt financing for 200MW of rooftop PV projects across India from a consortium of development finance institutions.
Neoen closes finance for 51MW Jamaica solar park, Enel starts production at Australia’s largest Solar PV Project, Vikram Solar commissions 10MW solar project in Madhya Pradesh.
The European Bank for Reconstruction and Development (EBRD) together with Triodos Investment Management and FMO are providing a US$31.6 million syndicated loan to Desert Solar Power One (DSPO) to build the largest solar plant in Mongolia, standing at 30MW.
The IFC has arranged a financing package of up to US$188 million for Jordan’s largest PV plant, a 200MWac / 248MWdc project developed by Masdar Abu Dhabi Future Energy Company.
The International Finance Corporation (IFC) and FMO, the Dutch development bank have invested a collective €14.62 million (US$15.52 million) in Mobisol, a German pay-as-you-go (PAYG) solar service company, in order to deliver renewable energy solutions to off-grid communities in East Africa.
Dutch development bank FMO has provided a US$14.7 million loan for a 10MW solar project in Uganda that will be developed and owned by international IPP Building Energy.
India’s fifth largest private sector bank Yes Bank plans to raise INR3.3 billion (US$49.6 million) through the issue of seven-year Green Infrastructure Bonds to the Dutch Development Bank FMO in order to fund solar and wind projects.
The second Solar and Off-Grid Renewables West Africa event in Ghana in April heard mixed views on the progress of solar in the region. But with the first projects reaching completion and others moving forward, brighter times seem to be around the corner. Tom Kenning reports
