Terrawatt Initiative and Climate Bonds Form New Partnership Boost for Global Solar Financing and Investment
Terrawatt Initiative (TWI) and the Climate Bonds Initiative have formed a new partnership to help accelerate global financing of solar energy. The partnership will be announced at the Terrawatt Initiative/International Solar Alliance, “Trillion Dollar Opportunity” Roundtable in New York on April 22nd.
Terrawatt Initiative was launched at COP21 with the following goals:
Promoting competitive solar power as a decisive tool to address power needs, sustainable development goals and climate change;
Engaging and structuring the dialogue with the Governments and International Organizations to achieve at scale design and fast implementation of a global common market of affordable solar power; and
Promoting actual deployment of affordable capital in solar power generation assets at the trillion USD scale.
Climate Bonds Initiative has been active in the solar sector for some time, beginning with the release of the Solar Sector Criteria in late 2013. These standards provide a sector specific screening tool for investors to assess the green credentials of bonds financing solar energy projects.Terrawatt Initiative Chair, Isabelle Kocher: “One of the TWI objectives is to support regulatory practices and financial structures that will accelerate investment in solar energy on a worldwide basis. The Climate Bonds focus on growing sustainable finance supported by transparent investor standards strongly complements this objective.” “Partnering with Climate Bonds for cooperation around solar growth will open many new avenues to bridge the climate finance gap highlighted at COP21.”
Climate Bonds CEO, Sean Kidney: “Terrawatt Initiative has taken a leading position in supporting the development of global solar. They share our focus on harnessing private sector investment to meet the climate challenges we all face. Partnering with TWI signals to all stakeholders in the solar field the growing role green bonds can play in sustainable energy investment.” “TWI, with their private sector foundation, is uniquely positioned to provide global solar business perspectives. By partnering, we can work internationally on various projects that will support accelerated solar based climate finance solutions.”