MANILA, PHILIPPINES: The Asian Development Bank (ADB) has approved a $198.51 million equivalent loan to fund green finance development in Hebei province, the People’s Republic of China (PRC). The loan will be provided via the provincial and city governments to the Bank of Xingtai, a provincial commercial bank in Hebei, to finance subprojects that meet […]
ADB to Help Modernize Power Distribution Network in Meghalaya
MANILA, PHILIPPINES: The Asian Development Bank (ADB) has approved a $132.8 million loan to improve power quality and upgrade the power distribution network in India’s northeastern state of Meghalaya. Although Meghalaya has achieved 100% electrification, the state’s per capita electricity consumption of 832 kilowatt-hours (kWh) is low compared to the national average of 1,122 kWh […]
ADB approves grant to scale up renewable energy development project in Maldives
The project will expand renewable-based hybrid systems, distribution grid upgrades, energy management systems, and supervisory control and data acquisition systems in additional 12 outer islands. The Asian Development Bank (ADB) has approved a $7.74 million concessional loan and a $2.73 million project grant to scale up the ongoing project, Preparing Outer Islands for Sustainable Energy […]
ADB and Phu Yen JSC sign $186m loan to develop solar power plant in Viet Nam
Phu Yen JSC is owned by B.Grimm Power Public Company Limited and Truong Thanh Viet Nam Group Joint Stock Company (TTVN). The Asian Development Bank (ADB) and Phu Yen TTP Joint Stock Company (Phu Yen JSC) today signed a $186 million loan to develop and operate a 257 megawatt (MW) solar power plant in Hoa […]
Green Finance Recovery Mechanisms Needed to Meet Infrastructure Financing Gap in Southeast Asia — ADB
MANILA, PHILIPPINES: A new book by the Asian Development Bank (ADB) urges policy makers in Southeast Asia to use green and innovative financing approaches to help catalyze the estimated $3.1 trillion investments required for climate-adjusted infrastructure in the region by 2030. These investments from both public and private sources would be critical to the region’s […]
ADB to Invest $15 Million in Avaada Energy to Expand Renewable Energy Capacity in India
NEW DELHI, INDIA: The Asian Development Bank (ADB) has signed an agreement to invest $15 million in INR equivalent in Avaada Energy Private Limited (AEPL) to help the company to scale up photovoltaic solar energy generation capacity in India. This is ADB’s second investment in AEPL after a first round of $50 million invested in […]
ADB Finances First Wind Power and Battery Storage Project in Thailand
BANGKOK, THAILAND: The Asian Development Bank (ADB) has signed a THB235.55 million ($7.2 million equivalent) loan with Lomligor Company Limited (Lomligor), a subsidiary of BCPG Public Company Limited (BCPG), to finance a 10-megawatt (MW) wind power plant in southern Thailand. The project utilizes an integrated 1.88-megawatt-hour (MWh) pilot battery energy storage system to increase […]
ADB Accelerating Renewable Energy in Mongolia with Advanced Battery Storage System
ULAANBAATAR, MONGOLIA: The Asian Development Bank (ADB) has approved a $100 million loan to help supply renewable energy to Mongolia by installing its first large-scale advanced battery energy storage system (BESS). “Mongolia is among the most heavily coal dependent developing member countries of ADB, and its energy sector is the largest contributor to its […]
ADB Approves $1.5 Billion Financing to Support India’s COVID-19 Response
MANILA, PHILIPPINES: The Asian Development Bank (ADB) today approved a $1.5 billion loan to the Government of India to help fund its response to the novel coronavirus disease (COVID-19) pandemic, including support for immediate priorities such as disease containment and prevention, as well as social protection for the poor and economically vulnerable sections of the […]
ADB Provides $346 Million Loan for Rural Electricity in Maharashtra, India
MANILA, PHILIPPINES: The Asian Development Bank (ADB) has approved a $346 million loan to India to help provide efficient and reliable power connection to rural agriculture customers in the state of Maharashtra. Maharashtra is the second-most populous state in India, and about half of the state’s labor force is engaged in agriculture and related […]