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. […]
Rs 90,000 crore scheme in offing for power companies
The loans are sought to be made available to Power Finance Corp (PFC) and REC Ltd, the two sectoral lending institutions in Indian power sector, for onward concessional lending to state electricity distribution utilities to help them clear bills of power generating companies. The power ministry has sought bonds mainly normal as well as a […]
ADB Accelerating Renewable Energy in Mongolia with Advanced BSS
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 greenhouse […]
Japan’s SMFG to end lending for new coal-fired power plants
TOKYO: Japan’s Sumitomo Mitsui Financial Group Inc (SMFG) said on Thursday it would no longer lend to new coal-fired power plants from May 1, a day after peer Mizuho Financial Group Inc said it would stop financing new coal power projects. The policy change comes as the sector faces pressure from activist investors and […]
AFDB donates more than 12 million euros to finance the energy transition
The Board of Directors of the African Development Fund (ADF), the concessional financing window of the African Development Bank Group, approved, Wednesday, March 25 in Abidjan, a donation of 12.46 million euros (10 million of Units of Account) intended to finance the Energy Transition and Institutional Support Program (ETISP) in São Tomé and Príncipe. The […]
Europe Was at the Start of a Huge Solar Rebound. Does Coronavirus Threaten That?
Construction delays are manageable, supply-chain worries appear unfounded and low-risk solar investments may shine in an uncertain climate, experts say. Europe’s solar renaissance looks set to continue blossoming despite the impact of the coronavirus and falling power prices, experts and investors say. A combination of new competitive tenders and the increasingly favorable economics of solar […]
AFDB to provide underserved communities in Nigeria with sustainable energy solutions
The African Development Bank and the Government of Nigeria have launched the National Electrification Project (NEP), to address critical energy access deficits by channeling private sector investments into mini grid and off-grid solutions. The project, which will be implemented by Nigeria’s Rural Electrification Agency, is a boost to efforts to achieve the target of universal […]
BlackRock Sends Huge Warning Shot at Companies Ignoring Climate Risk
The world’s largest asset manager predicts a “fundamental reshaping of finance” as the climate threat comes into sharper focus. In a move that will resound across the world of energy investing, BlackRock, the world’s largest asset manager, this week warned of a “fundamental reshaping of finance” as the impacts of climate change become better understood. […]
Solarcentury Gets Boost From UK Government for 500MW Overseas Pipeline
Britain wants to spark a post-Brexit green industrial revolution, but its greatest opportunities for renewable exports likely lie with wind, not solar. Developer Solarcentury has secured €54.8 million ($61.1 million) of finance for 500 megawatts of solar in Spain — with a little help from the U.K. government. The backing by U.K. Export Finance, the […]
