In order to fully control the energy utility company EDF, the French government has stated its intention to buy out the company’s remaining stakes. The French finance ministry announced in a statement that it has made an offer to purchase the final 16 per cent stake in EDF for $9.85 billion in total or $12.26 for a share. Currently, 84 per cent of the business is owned by the government.
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The total cost of implementing NDCs in Africa is estimated at USD 2.8 trillion over 2020- 2030. This includes the estimation of loss and damage when provided by countries. Of this, national governments have committed to providing USD 264 billion (about 10%), with the remaining USD 2.5 trillion identified as climate finance needs. Across all African regions, reported needs greatly exceed country allocations from national government budgets.
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Apollo Global Management, a private equity firm based in the US, has completed a $175 million strategic investment in Summit Ridge Energy, a company that operates solar power plants across the country. Summit Ridge Energy intends to use the funds to broaden its geographic reach and scale its platform. Summit Ridge Energy has formed two joint ventures worth more than $1 billion since its inception in 2017.
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Over the past decade, the installation cost of geothermal power plants has increased, from USD2,620 per kW in 2010 to USD4,468 per kW in 2020. According to IRENA, geothermal is the second most expensive renewables type by installation cost, closely behind concentrated solar power’s 4,581 USD per kW in 2020.
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While Africa accounts for almost one‐fifth of the world’s population, it attracts less than 5% of global energy investment. This is spread unevenly across the continent. Ten countries accounted for 90% of private investment in energy and electricity infrastructure on the continent over the last ten years, South Africa alone accounting for nearly 40%. Total energy investment in Africa was already declining prior to the pandemic and fell even more quickly in 2020, by over 20%.
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This paper sets out key policy recommendations to accelerate this transition, tackling key challenges of the transition including methane leakage and gas blending. This paper also examines the role of hydrogen in this transition, how to grow the hydrogen sector to meet the needs of a net zero economy and prioritise its use to deliver rapid emissions reductions.
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Several high-profile investors have entered Vietnam’s C&I market. The French utility group EDF and its local partner, investment fund VinaCapital, have committed USD100 million over the next three years for a pipeline of 200 MWp of C&I rooftop solar power systems. South Korean conglomerate SK Group has pledged USD200 million and a 250 MWp installation target in the next few years, with local partner Nami Energy.
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Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc (Shell), has agreed to acquire a 100 per cent stake of Solenergi Power Private Limited and the Sprng Energy group of companies for $1.55 billion from Actis Solenergi Limited (Actis). The deal is expected to almost triple Shell’s renewable energy capacity in operation, as the company strives to become a net-zero emissions firm by the year 2050.
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TotalEnergies, a France-based oil and gas company, has acquired solar project developer Core Solar to its renewable energy portfolio in the US. Under the terms of the deal, Core Solar president and CEO and the employees will join TotalEnergies teams. The financial details of the deal have not been disclosed by either company.
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Advanced Ionics, a US-based provider of next-generation industrial electrolysers that can produce green hydrogen for less than $1 per kg, has announced the completion of a $4.2 million seed round led by Clean Energy Ventures and SWAN Impact Network.
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Increased public financing is required to de-risk private investment and support the development of new infrastructure. Reforms to improve transparency of climate-related data will help underpin efforts to incorporate climate risks into financial regulatory frameworks and develop transition risk modelling among financial institutions, helping to align capital allocation decisions.
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Quinbrook Infrastructure Partners and Primergy Solar have secured almost $2 billion in debt and tax equity financing for the Gemini solar plus 380 MW storage project in Nevada, US. Gemini was developed by Primergy, a wholly owned portfolio company of Quinbrook. The debt funding includes a construction/term loan, a tax equity bridge loan, and a letter of credit facility totaling $1.3 billion.
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The report opens with a discussion of the interplay among gender equality, energy access and economic improvement, and serves as background behind the main research question. Following this is an outline of the funding received in ASEAN for energy and gender related programmes between 2010 and 2019, then data-driven recommendations for policymakers.
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ESG was already gaining traction among the biggest investors in the world. The United Nations Principles for Responsible Investing (UNPRI) was founded in 2006 and now has more than 3,500 signatories including the biggest institutional investors with US$120 trillion in assets under management. These signatories have committed to integrating ESG factors into investment decision-making.
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Cindrigo announced that it has exercised the option agreement entered into last November to acquire the entire issued share capital of Energy Co-invest Global Corp (ECG). Cindrigo wants to expand its renewable energy portfolio and this acquisition of ECG will help the former to strengthen its position in the clean energy space, especially geothermal energy.
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Indonesia requires USD 154 billion of investments to achieve the renewable target of 23% by 2025, and public funding is expected to only cover 51% of this requirement. The pandemic may cause further setbacks, as portions of the public budget have been diverted. In this context, the role of the private sector becomes increasingly critical for Indonesia to achieve its 2025 target and enable a sustainable recovery.
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Today, there are several investors that have dedicated funds to invest in green bonds, and the Indian government intends to heighten the participation of international investors in the domestic bond market. It is expected that the government’s green bonds will set a precedent and are likely to open up the local market further. The issuance will be part of the government’s overall market borrowing of Rs 14.95 trillion in 2022-23, though the issue size for the green bonds has not been specified yet.
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This report reveals the scale of financial support provided by commercial banks, development finance institutions, and export credit agencies that flowed to the fossil fuel industry in West, Central, East, and Southern Africa between 2016 and June 2017. The vast majority of this finance came from financial institutions based outside Africa, both commercial banks and public finance institutions like development banks and export credit agencies.
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This technical note explains the process of building the China Overseas Finance Inventory (COFI) Database, a comprehensive database covering both Chinese equity and debt foreign investments in the power-generation sector in Belt and Road Initiative (BRI) countries. The note explains how the authors addressed the challenge of matching power plants and their investments across publicly available and commercial databases and how they provided the final database as an open data source.
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AMPYR Solar Europe (ASE), a European solar energy company, has acquired a €400 million loan from CarVal Investors to put more than 2 GW of solar power capacity online in Europe by 2025. CarVal has contributed a €250 million first tranche and a €150 million supplemental tranche to assist ASE’s project. The loan will be used to fund the construction of the solar assets, as well as development capital and operating expenses.
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