In 2020, 821 MW of new wind power capacity was installed in Africa and the Middle East, bringing total capacity in the region to over 7 GW, which helps to avoid 10.7 million tonnes of CO2 emissions annually – equivalent to taking 2.3 million passenger cars off the road. The technical wind resource potential on […]
IFC Picks Up $56 Mn Of Continuum Energy’s $561 Mn-Green Bonds
The IFC has subscribed to 10 per cent or USD 56 million of Continuum Energy’s first green bond sale closed earlier this month The International Finance Corporation (IFC) has picked up 10 per cent of the first green bond issuance worth USD 561 million by Continuum Wind Energy as the anchor investor. The IFC has […]
IFC approves US$7mn loan for Sunshine Holdings for Daintee acquisition, roof top solar projects
US$ 5mn for Daintee acquisition and US$ 2mn for roof top solar projects The International Finance Corporation (IFC) of the World Bank Group has approved US$ 7 million loan to Sri Lanka’s Sunshine Holdings PLC to support the acquisition of confectionary manufacturing company Daintee and for the expansion of its roof top solar projects. The […]
In-depth with IFC’s regional director for MENA
The corporation’s support to Egypt included a loan of up to $100mln in July The International Finance Corporation (IFC), a member of the World Bank Group, invested $22 billion in developing countries’ private companies during fiscal year (FY) 2019/2020. The corporation’s support to Egypt included a loan of up to $100 million in July to […]
IFC, Agricultural Bank of Egypt partner to promote farmers’ switch to solar irrigation systems
CAIRO – 19 November 2020 : International Finance Corporation (IFC) and the Agricultural bank of Egypt (ABE) announced Thursday a partnership to help of Egyptian farmers access financing to purchase solar irrigation systems, reducing their reliance on diesel-powered generators and boosting their productivity. Using solar power for water pumping could potentially save farmers an estimated […]
IFC cooperates with Egypt in strengthening clean tech start-ups, enabling farmers to switch to solar
International Finance Corporation (IFC) announced Tuesday joining forces with the National Bank of Egypt and the Micro, Small and Medium Enterprise Development Agency (MSMEDA) to strengthen the clean technology entrepreneurship sector and boost Egyptian farmers’ access to finance for solar irrigation. According to IFC, start-ups make up the bulk of players in the photovoltaic (PV) […]
IFC to make debt investment in Mahindra Renewables
International Finance Corporation plans to make a debt investment of $36 million (about Rs 260 crore) in Mahindra Renewables Pvt. Ltd to help the company develop a solar power project. IFC may also separately help the wholly owned unit of Mahindra Susten Pvt. Ltd mobilise a syndicated loan of $93 million, the World Bank’s private-sector […]
IFC signs deal to expand solar power generation in Bangladesh
The pilot project, which will be developed through competitive bidding under a public-private partnership model, is aimed at demonstrating a viable model for a solar power plant in Bangladesh, drawing in the private sector IFC, a member of the World Bank Group, recently signed an agreement with the Sustainable and Renewable Energy Development Authority (SREDA) […]
Côte d’Ivoire Joins The World Bank’s Scaling Solar Programme
The World Bank Group, through its Scaling Solar programme, and the government of Côte d’Ivoire have signed an agreement to help the West African country develop its supply of affordable, reliable clean energy. Côte d’Ivoire has plans to reach at least 42% of its power from renewable sources by 2030. IFC, a member of the […]
Mexican energy company IENova secures a US$200 from IFC, NADB to fund solar power projects
MEXICO: Infraestructura Energética Nova S.A.B. de C.V. (IEnova), a Sempra Energy Company has secured a US$200 million loan from the International Finance Corporation (IFC) and North American Development Bank (NADB) to finance four solar power plants with a total capacity of 376 MW across Mexico. A statement from IFC stated that the financing is part […]