Iberdrola receives new recognition from the World Bank, through its private sector investment arm – International Finance Corporation (IFC) –. The institution and the electricity company have signed a loan, linked to ESG criteria (environmental, social and corporate governance), of 300 million euros for renewable projects in countries that depend on fossil fuels, such as … Continue reading The World Bank grants a green loan of 300 million to Iberdrola for renewable projects in emerging countries
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Iberdrola Brazil signs a €100 million green loan with the World Bank
Neonergia, the Brazilian subsidiary of the electricity company chaired by Ignacio Galán, obtains 550 million Brazilian reais for a term of eight years with a price linked to ESG objectives. The funding differential will be reduced if the company increases the number of female electricians and cuts the percentage of carbon emissions Iberdrola, through its … Continue reading Iberdrola Brazil signs a €100 million green loan with the World Bank
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GWEC and World Bank host intergovernmental delegation for offshore wind power in emerging markets
Global Wind Energy Council (GWEC), in partnership with the World Bank Group, held the first intergovernmental forum for emerging markets with strong offshore wind potential in London this week. The forum brought together governments, commercial developers, development partners and wind energy experts from developing countries in order to realise the offshore wind potential in … Continue reading GWEC and World Bank host intergovernmental delegation for offshore wind power in emerging markets
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GWEC working with World Bank Group to hold forum on Offshore Wind Power in London
Forum will bring together emerging markets with strong offshore wind energy potential, with representatives from 15 governments expected to attend. World Bank and the International Finance Corporation (IFC) have launched program to fast-track the adoption of offshore wind energy in developing countries. GWEC Market Intelligence expects global offshore wind capacity to grow to 210GW in … Continue reading GWEC working with World Bank Group to hold forum on Offshore Wind Power in London
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IFC Supports New Wind Power Plant in Jordan
IFC, a member of the World Bank Group, has arranged a pioneering financing package of up to $80 million to fund the construction of a new wind power plant in Jordan, near the town of Tafila, the latest in a series of efforts to boost renewable energy development in the country. The 51.75-megawatt Abour Wind … Continue reading IFC Supports New Wind Power Plant in Jordan
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IFC supports concentrated solar power (CSP) in Morocco
IFC, a member of the World Bank Group, has agreed to a $20 million equity investment in ACWA Power Ouarzazate, which has developed the 160 MW NOORo 1 concentrated solar power (“CSP”) parabolic trough plant with three-hour storage near Ouarzazate, Morocco. IFC’s investment will help support the development of Morocco’s solar power industry, part of … Continue reading IFC supports concentrated solar power (CSP) in Morocco
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Wind energy in Indonesia: Largest wind power project
Construction will begin in May 2016 on Indonesia’s largest wind farm as Asia Green Capital Partners Pte Ltd., a Singapore-based clean energy developer, lines up financing for the 62.5-megawatt project. The World Bank’s International Finance Corp. will contribute to the project known as Jeneponto 1, which will cost $120 million to $135 million, according to … Continue reading Wind energy in Indonesia: Largest wind power project
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World Bank supporting solar energy projects in Jordan
The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance and credit enhancement arm of the World Bank Group, is backing the development, construction and operation of four solar power projects in Jordan, adding 50 megawatts of clean, renewable energy generation capacity to the country’s grid. The plants in Maan and Mafraq benefit from … Continue reading World Bank supporting solar energy projects in Jordan
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IFC promotes financing for renewable energy projects in Egypt
IFC, a member of the World Bank Group, and the Egyptian Banking Institute co-hosted a workshop in Cairo to highlight the investment opportunities emerging in Egypt in renewable energy, promote financing for such projects and encourage best practice in the field. The pioneering one-day training session, supported by the Danish Government and held in … Continue reading IFC promotes financing for renewable energy projects in Egypt
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Tuvalu Set for More Efficient and Renewable Energy
The World Bank’s Board of Executive Directors today approved US$7 million for the Tuvalu Energy Sector Development Project (ESDP), which will support Tuvalu’s goals of 100 percent renewable energy and 30 percent efficiency improvements by 2020. The Tuvalu ESDP will support a reduction in the reliance on imported fuel for electricity generation through investment in … Continue reading Tuvalu Set for More Efficient and Renewable Energy
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World Bank to fund 25 MW of solar power in Nepal
The World Bank has signed off a US$130 million credit line for solar energy in Nepal. The funding is to help tackle an energy shortage in Nepal, which currently suffers from severe energy shortages of up to 18 hours a day. The project is aiming to increase the supply of power through a series … Continue reading World Bank to fund 25 MW of solar power in Nepal
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Indonesia, Pakistan, Vietnam, the Maldives and Nepal are partnering with the World Bank to map out their most-promising locations for solar energy, wind power and other renewable energy resources
Pakistan has tremendous potential for harnessing wind power, solar energy, biomass and other renewable energy resources to help reduce power cuts and improve access to modern energy services. But the country lacks the high quality resource data at a national scale that is needed to take full advantage of these sources of clean energy. … Continue reading Indonesia, Pakistan, Vietnam, the Maldives and Nepal are partnering with the World Bank to map out their most-promising locations for solar energy, wind power and other renewable energy resources
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GE to Install 63 Wind Turbines for New Kenyan Wind Energy Project
The World Bank (Washington D.C.) continues to support national development projects in Kenya. Through its global arm, the International Finance Corporation (IFC), the bank said it will take a $20 million equity stake in the 100-megawatt (MW) Kipeto wind farm project in Kajiado County. Kipeto becomes the second-biggest wind power project in Kenya after the … Continue reading GE to Install 63 Wind Turbines for New Kenyan Wind Energy Project
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World Bank is set to invest in a 100 MW wind farm in Kenya
Kipeto becomes the second-biggest wind power project in the country after the 300 MW wind farm being set up by Lake Turkana Wind Power in Marsabit. The World Bank is set to invest about Sh1.6 billion in a 100-megawatt wind power plant in Kajiado County. The global lender, through its private arm International Finance Corporation, … Continue reading World Bank is set to invest in a 100 MW wind farm in Kenya
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First Concentrated Solar Power (CSP) plant in Morocco solar energy project to open in 2015
Morocco’s first Concentrated Solar Power plant will begin operating in 2015 as part of a multi-billion-euro project the oil-scarce kingdom hopes will satisfy its growing energy needs. Morocco’s first Concentrated Solar Power plant will begin operating in 2015, an official said Sunday, as part of a multi-billion-euro project the oil-scarce kingdom hopes will … Continue reading First Concentrated Solar Power (CSP) plant in Morocco solar energy project to open in 2015
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World Bank funds solar power (photovoltaic) in Jordan
The International Finance Corporation (IFC) has announced this Wednesday (15th) the approval of a US$ 207.5 million loan package for the construction of seven photovoltaic plants in Jordan. The IFC is the World Bank’s private sector arm. According to an IFC press release, the full project, which provides for the building of 12 plants, will … Continue reading World Bank funds solar power (photovoltaic) in Jordan
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Expansion of Morocco’s Largest Concentrated Solar Power (CSP) Complex to Provide 1.1 Million Moroccans with Solar Energy
The World Bank Group’s Board of Executive Directors approved a US$519 million project to support Morocco’s ongoing efforts to reduce its dependency on fossil fuels by developing its renewable energy resources. The Concentrated Solar Power (CSP) project will back the government’s strategy of harnessing power from the sun through the use of concentrated solar power … Continue reading Expansion of Morocco’s Largest Concentrated Solar Power (CSP) Complex to Provide 1.1 Million Moroccans with Solar Energy
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Croatia to build new wind farm
A new wind farm, financed by the International Finance Corporation (IFC), will be built near the Croatian southern coast city of Dubrovnik, Croatian News Agency reported on Wednesday. The 34.2-megawatt wind farm located in coastal town of Slano, 32 km northwest of Dubrovnik, will boost Croatia’s supply of wind-generated power 11 percent and help to … Continue reading Croatia to build new wind farm
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IFC provides $50 million to 170 MW wind power project of Continuum Wind Energy
IFC, a member of the World Bank Group, today announced that it will lend $50 million to two wholly-owned subsidiaries of Continuum Wind Energy (India) to expand access to clean energy, and help reduce greenhouse gas emissions. IFC also helped mobilise a loan of $100 million for the project from YES Bank. The financing will … Continue reading IFC provides $50 million to 170 MW wind power project of Continuum Wind Energy
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Loan will support the construction of over 300 MW from wind power in Brazil
Enel Green Power SpA (“Enel Green Power”), acting through its Brazilian subsidiary Enel Brasil Participações Ltda. (“Enel Brazil”), the controlling holding company of Brazilian subsidiaries of the Enel Green Power Group, and IFC, a member of the World Bank Group, signed a $200 million loan agreement. The loan will support the construction of over 300 … Continue reading Loan will support the construction of over 300 MW from wind power in Brazil
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