The European Bank for Reconstruction and Development (EBRD) has launched a new programme titled “Greening Financial Systems: Delivering Climate Finance for All.” In a press release, the bank said it expects the programme to achieve US$634 million in green financing and that it will be rolled out in 13 countries across the EBRD regions: Armenia, Egypt, Georgia, Jordan, Kazakhstan, the Kyrgyz Republic, Moldova, Mongolia, Morocco, North Macedonia, Serbia, Tajikistan and Uzbekistan. The bank said, “As part of this initiative, the EBRD and its longstanding partner and donor, the Green Climate Fund (GCF), have signed an agreement for a US$200 million…
Author: Chitrika
Israel-based N2OFF, Inc., a cleantech company investing in solar energy assets based on the RTB (Ready to Build) business model, decided to extend additional debt financing to Solterra Renewable Energy Ltd. (Solterra). In a press release, while sharing these details, N2OFF said it decided to extend the financing in connection with its previously reported Melz solar project for the purpose of integrating a large-scale battery energy storage system (BESS) into its 115 MWp solar photovoltaic project in Melz, Germany. The planned “green” BESS will have a capacity of 107 MW / 214 MWh and is designed to optimize electricity sales…
An international team of photovoltaic scientists has taken a crucial step toward the industrialization of perovskite-silicon tandem solar cells, according to the latest research by the Fraunhofer Institute for Solar Energy Systems ISE. They demonstrated that passivation of the perovskite top cell is possible in combination with textured silicon bottom cells featuring large pyramid sizes, which are the current industry standard for solar cells. The research was presented by PV scientists from King Abdullah University of Science and Technology (KAUST), the University of Freiburg, and the Fraunhofer Institute for Solar Energy Systems ISE. In their study, they detailed their technological…
The Asian Development Bank (ADB) and ACWA Power Company (ACWA Power) recently signed a $51 million loan package to build the Nukus 2 Wind and Battery Energy Storage facility in Uzbekistan’s Qoraozak district in the Republic of Karakalpakstan. In a press release, while sharing the project details ADB said, “The project will be implemented by ACWA Power Beruniy Wind FE LLC, which is fully owned by ACWA Power. This project is Central Asia’s first wind power facility with a utility-scale battery energy storage system.” Sharing details of the financing package the company said it includes $25.4 million from ADB’s ordinary…
The Asian Infrastructure Investment Bank (AIIB) and the Ministry of National Economy of the Republic of Kazakhstan have agreed to establish a multi-year rolling pipeline (MYRP), a strategic framework that charts a course for up to USD6 billion in infrastructure investments between now and 2029.Konstantin Limitovskiy, Chief Investment Officer, Region 2, AIIB, and Shakhrat Nuryshev, Ambassador Extraordinary and Plenipotentiary of the Republic of Kazakhstan to the People’s Republic of China– signed the Memorandum of Understanding. H.E. Kassym-Jomart Tokayev, President of the Republic of Kazakhstan, and Jin Liqun, President and Chair of the Board of Directors of AIIB, witnessed the signing…
Syrian Arab Republic, Energy Ministry and ACWA Power, a private water desalination company, and a first mover in green hydrogen recently signed a Joint Development Agreement (JDA) to study develop approximately 2.5 GW of solar and wind capacity — alongside energy storage and a proposed national technical training centre — in the Syrian Arab Republic.The agreement establishes a framework to perform detailed technical and commercial studies on existing power plants and the national grid, and to evaluate, develop, and implement a pipeline of power projects, including renewable energy generation and energy storage.The agreement was signed at the headquarters of the…
Envision Energy, a global leader in green technology, announced during the Turkish Wind Energy Congress (TWEC) that it will partner with ERN Holding & Yildizlar Group, one of Turkey’s largest wind and storage developers, on a 232MW wind power project in Karaman. This marks Envision’s first wind power project in Turkey, representing a significant milestone in the company’s global clean energy journey. Leveraging its cutting-edge technologies and proven global project execution, Envision will support Turkey in optimizing its energy mix and achieving carbon neutrality targets. The collaboration establishes a solid foundation for Envision’s long-term involvement in Turkey’s energy transition while setting a benchmark for the company’s…
Eurasian Resources Group (ERG), a global metals and mining company, has opened a 150 megawatts Khromtau wind farm in Kazakhstan. The project is one of the largest renewable energy facilities in Kazakhstan and Central Asia and required an investment of more than US$142 million. The wind farm is located in the Aktobe Region and includes 24 turbines. The facility will generate more than 500 million kilowatt hours of green energy annually. All in all, the facility will help reduce up to 440,000 tonnes of carbon dioxide emissions and save more than 300,000 tonnes of coal each year. The project has…
The Ministry of Planning, Economic Development, and International Cooperation reviewed the electricity sector targets for the 2025/2026 fiscal year plan in a report. In this context, Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, pointed out that the electricity and renewable energy sector is responsible for providing electrical energy to all users in various productive and consumer fields. This contributes to achieving sustainable development goals and continuously improving the level of services provided to citizens. Electrical energy is an essential necessity for meeting the basic daily living requirements of citizens and for powering all development projects, whether…
Bank ABC has set a new benchmark in sustainable finance, mobilising US$2.8 billion in 2024, with 86% channelled to emerging markets across Brazil, North Africa, the Middle East, and Asia – regions at the frontline of climate and development challenges. Through its global reach, the Bank is driving projects in renewable energy, climate resilience and inclusive growth, reinforcing its position as MENA’s international bank of the future. Group CEO, Sael Al Waary, said: “This milestone confirms Bank ABC’s ability to direct capital with purpose – driving growth that is both sustainable and inclusive.” Recognised as Bahrain’s Best Bank for Sustainable Finance…