SunFunder’s Solar Energy Transformation Fund backs solar companies improving energy access across Africa and Asia. The off-grid solar finance company’s blended-finance fund closed $70 million with investments from OeEB, the development bank of Austria, Swedfund, Bank of America, Mercy Investment Services, the Schmidt Family Foundation and members from the Toniic impact investor network. The nine-year […]
Indonesia offers aggressive tax benefits for electric vehicles
Battery-powered electric vehicles will retain their 0% luxury tax rate, while plug-in hybrid vehicles will see their tariff increase to 5% from 0%, according to a draft regulation issued by the finance ministry on Monday. Indonesia, a top supplier of a key battery metal, will aim to boost sales of electric vehicles with a new […]
Why Investors Bought the First Certified Green Bond to Protect Forests for Drinking Water
Lake Maumelle in central Arkansas is a blue gem surrounded by rich forests of oak, hickory and short-leaf pine. Not only is it popular with local boaters and fishers, it also supplies much of the drinking water to half a million people in and around Little Rock. However, much of the land around the lake is privately […]
Mobilizing Finance for EVs in India
A Toolkit of Solutions to Mitigate Risks and Address Market Barriers India’s transition to electric vehicles (EVs) has advanced rapidly in the past few years. A supportive policy environment, improving economics, and emerging business models have poised the EV market for significant growth in the coming decade. Key barriers related to EV adoption—including technology cost, […]
4 Climate Finance Priorities for the Biden Administration
Providing funding to poorer nations to undertake climate action is not only a moral and legal responsibility for developed countries, but also a strategic investment in a cleaner and more resilient world. Such support pays dividends by reducing the severity and costs of climate impacts, including extreme weather, ecosystem loss and political instability both at […]
Vestas Takes €500M Stake in Copenhagen Infrastructure Partners
World’s largest wind turbine maker gets exposure to more renewable projects; CIP plans a new power-to-X fund. Vestas, the world’s largest maker of wind turbines, has taken a 25 percent stake in the renewable asset manager Copenhagen Infrastructure Partners (CIP). The €500 million ($612 million) deal will include an upfront payment of €180 million, followed […]
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 […]
CIT Group Provides $217 Mn Financing for 200 MW Solar Project in Ohio
Innergex Renewable Energy has closed construction financing, a tax equity commitment, and secured a seven-year term loan facility for the 200-MW Hillcrest solar project in Brown County, Ohio. The $191.8 million financing was led by CIT’s Power and Energy group and includes MUFG and Mizuho, as well as Wells Fargo as the tax equity investor. […]
Uber leads $170 million investment into Lime electric scooters
Uber Technologies Inc. is leading an investment round of $170 million in scooter-rental company Lime, a lifeline for a startup reeling from plunging customer numbers and company-wide layoffs. Alphabet Inc., GV and Bain Capital Ventures, along with other new and existing stakeholders, also participated, Lime said in a statement Thursday. As part of the […]
Chenya Energy receives 7.2 billion in financing for a 180-MW floating solar project
World’s Biggest Floating Solar Project Set for Grid Connection by Late 2020 Taiwan, a tiny island in Asia, is set to become the host of the largest floating solar farm in the world. The 181 MW floating device is being constructed by a local developer Chenya Energy Co Ltd in Taiwan’s Changbin Lunwei East district. […]