CAREC Energy Outlook 2030 comprehensively analyzes options for future energy market development in CAREC countries and is one of the flagship projects under the CAREC Energy Strategy 2030. The principal goal of this ADB report is to facilitate sustainable investments in energy infrastructure by equipping stakeholders with critical insights and assessments of regional energy market trends.
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We must confront the uncomfortable truth that our region is a source of more than 50 per cent of annual global greenhouse gas emissions. It is clear that bold and urgent action is needed to combat the great challenges we face. For this, we must implement new and innovative policy solutions to ensure green, inclusive, and sustainable development. We have been stepping up our climate financing. We raised our ambition to provide 100 billion dollars in cumulative climate finance between 2019 and 2030.
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To align its energy operations with Strategy 2030, ADB reviewed its 2009 policy, recognising the changing contexts and increasing needs of ADB’s developing members while mindful of the impacts of increasing energy use on the climate and environment. Recently, in October 2021, ADB approved a new Energy Policy that aims to support universal access to reliable and affordable energy services while promoting the low-carbon transition in Asia and the Pacific.
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The green and blue bond program enables the Asian Development Bank (ADB) to support its developing member countries seeking to deliver environmentally sustainable growth to help reduce poverty and improve the quality of life of their people. Both green bonds and blue bonds would include investments such as construction of new assets, as well as maintenance, enhancement, improvement or repair of existing assets. Green bond- and blue bond-eligible projects would exclude lending to financial intermediaries.
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The African Development Bank (AfDB) has committed to funding $530 million to finance the construction of a 343 km, 400 kV central-south transmission line that will connect the north and south transmission grids in Angola to allow for power distribution between the two regions. The rationale behind the construction is that the north of Angola has over 1 GW of mostly renewable power while the southern part of the country still relies on diesel generators.
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The Green Climate Fund (GCF) has allocated $300 million to support the Asian Development Bank’s (ADB) efforts to help Southeast Asia shape a climate-resilient, environmentally sustainable economic recovery from the COVID-19 pandemic.
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Thailand-based Energy Absolute Public Company Limited (Energy Absolute) has secured a green loan from the Asian Development Bank (ADB) to finance its renewable energy and electric vehicle charging network projects in Thailand. The $47.62 million green loan will be used to finance the ongoing the Nakornsawan Solar and Hanuman Wind power plants. In addition, the funds will also be used to deploy fast and standard chargers at across Thailand.
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Kazakhstan, Turkmenistan, and Uzbekistan are rich in fossil fuels, while the Kyrgyz Republic and Tajikistan have extensive hydropower. Yet in winter, the hydro-rich countries suffer from power shortages due to a combination of reduced water flow and higher demand for heating. The solution is for these countries to share energy.
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The Asian Development Bank (ADB) and the Green Climate Fund (GCF) have partnered to assist a green recovery for ADB member countries facing an adverse economic impact because of the Covid-19 pandemic.
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The Asian Development Bank (ADB) is providing a grant of USD 54.77 million for the rehabilitation work of the Nurek hydroelectric power plant in Tajikistan.
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The Asian Development Bank (ADB) has signed a $17.7 million financing package with Spectra Solar...
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