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Here are some noteworthy cleantech announcements of the day from around the world:
S&P Global Commodity Insights announced an independent suite of price assessments for International Renewable Energy Certificates (I-RECs) in Brazil, India, and Turkey as market participants and energy consumers seek transparency in the global market for valuing renewable-origin power generation. I-RECs certificates are a way for electricity consumers to have confidence that their power consumption comes from renewable sources. These assessments augment a suite of similar price references offered by S&P Global Commodity Insights for renewable energy certificates (RECs) in North America and Guarantees of Origin (GOs) in Europe. Brazil is the largest I-REC market in Latin America, while Turkey and India represent two of the largest markets in Asia. The Platts Global I-REC price assessments reflect end-of-day renewable-origin power values determined by buyers and sellers in the spot certificates market. The assessments will be expressed in various currencies per MWh. Platts I-REC assessments cover the leading renewables technologies of hydro, solar, wind, and biomass generation.
The Asian Development Bank and Shamol Zarafshan Energy Foreign Enterprise LLC, a wholly owned subsidiary of Abu Dhabi Future Energy Company Private Joint Stock Company (Masdar), signed a $52 million loan agreement to finance Uzbekistan’s first wind power plant. The 500 MW plant will be located east of Zarafshan City, in Uzbekistan’s Tamdy District of the Navoi Region. The facility will comprise 111 wind turbine generators, each with a capacity of 4.5 MW. The project is co-financed with the European Bank for Reconstruction and Development, First Abu Dhabi Bank, International Finance Corporation, the Japan International Cooperation Agency, and Natixis.
Waaree entered into an agreement with the State Bank of India for its channel partners to avail of unsecured financing for solar projects through the Surya Shakti Solar Finance program and working capital under the electronic dealer finance program. Waaree intends to leverage over ₹5 billion (~$62.54 million) of a credit line through the Surya Shakti Solar Finance program and provide a digital platform for a hassle-free journey to loan applicants for financing solar projects. The unsecured financing facility will be used by commercial institutions, industries, resorts, hotels, manufacturing units, and warehouses to adopt solar as their new energy source.
Ørsted, a Danish power company, secured investor commitment for an aggregate amount of nominal €900 million (~$889.91 million) and £950 million (~$1.09 billion) through the issuance of green senior bonds. The financing will fund the company’s global build-out of renewable energy and its green growth ambition of reaching approximately 50 GW of installed capacity by 2030. Ørsted has completed the pricing of the new unsecured green senior bonds, a £375 million (~$428.56 million) fixed-rate tranche with maturity in 2034, and a £575 million (~$656.98 million) fixed-rate tranche with maturity in 2042. All bonds are issued as green bonds per Ørsted’s green finance framework.
Dubai Electricity and Water Authority (DEWA) received four bids from international companies for consultancy contract for the sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park. The park is the largest single-site solar park in the world using the Independent Power Producer (IPP) model, with a production capacity of 5 GW by 2030. The production capacity of the sixth phase of the solar park will be 900 MW. DEWA’s total energy production capacity is 14,117 MW, and the current production capacity of the solar park is 1,627 MW. DEWA is implementing other projects at the solar park with a total capacity of 1,233 MW using photovoltaic solar panels and concentrated solar power technologies, which raises the share of clean energy production within Dubai’s energy mix to 11.5%.
Satish Shetty is a Copy Editor with Mercom India. Prior to Mercom, Satish was a multimedia news producer at Reuters, where he gained experience in digital news media. Satish has his Bachelor of Arts (B.A.) degree in Broadcast Journalism from Limkokwing University of Creative Technology, Malaysia.
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