Author: Chitrika Grover

The Asian Development Bank (ADB) has approved a $200 million loan to upgrade Sri Lanka’s power sector infrastructure, enhancing the reliability of transmission and distribution networks and facilitating greater integration of renewable energy.“Driving power sector reforms, combined with targeted infrastructure interventions, is essential to facilitate competitive renewable energy development and reduce power generation costs,” said ADB Country Director for Sri Lanka Takafumi Kadono. “By expanding and modernizing infrastructure and incorporating digitalization solutions, this project will support the government’s goal of increased integration of renewable energy in the electricity mix, reduce power interruptions, and minimize transmission and distribution losses.Sri Lanka achieved…

Read More

BlackRock, MAS, IFC, AIA, MUFG, and NEXI have signed an SOI at the 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change to explore ways to work together on a blended finance debt initiative for global investors seeking opportunities to finance corporates’ decarbonisation projects at scale in Asia with a focus on Southeast Asia. The Industrial Transformation infrastructure debt programme is one of the programmes under MAS’ Financing Asia’s Transition Partnership (FAST-P), a blended finance initiative announced by the Singapore Government at COP28 that aims to mobilise up to US$5 billion from public, private,…

Read More

Ampd Energy, a global energy industry innovator and manufacturer of the Enertainer and Ampd Silo battery energy storage systems (ESS) for heavy industries, raised $27.3 million in an oversubscribed Series B funding. The round was co-led by Kibo Invest and Openspace, the largest investor in this round, with notable participation from existing investors MTR Lab, Taronga Ventures and 2150, confirming their support and belief in Ampd Energy by participating above pro-rata. The funds will be used to further expand decarbonization across new verticals and regions. According to the IEA, the combined building and construction sector is responsible for 30% of total global…

Read More

The Asian Development Bank (ADB) recently issued its first biodiversity and nature theme bond to finance a pool of eligible projects across Asia and the Pacific. The A$150 million (equivalent to US$100 million), 10-year issue was purchased by the Dai-ichi Life Insurance Company, Limited of Japan and arranged by Credit Agricole CIB. The bond was issued under ADB’s Theme Bonds for Sustainable Development program, in coordination with its Environment group.“Investing in nature is emerging as one of the most impactful ways to combat climate change, biodiversity loss, and pollution. Through ADB’s first biodiversity and nature bond, we are pleased to…

Read More

Bangladesh is introducing a 10-year tax exemption package for renewable energy production — a move expected to help boost clean electricity generation, which is still hampered by high production costs. The National Board of Revenue issued a notification earlier this week for projects that will begin commercial operations by mid-2030. The policy grants 100 percent tax exemption for renewable energy plants in the first five years, 50 percent in the next three years, and 25 percent in the following two years. “Companies whose commercial production will start between July 1, 2025 and June 30, 2030, are exempted from the tax,”…

Read More

Pradip Kumar Das, Chairman & Managing Director, Indian Renewable Energy Development Agency Limited (IREDA), represented India in a critical discussion on “Access to Financing for Renewable Energy Projects,” at the Bhutan-India Renewable Energy Roundtable held today in Thimphu. The event, organized by the Government of India in collaboration with the Government of Bhutan, provided a platform for fostering renewable energy cooperation between the two nations. Shri Das assured that IREDA stands ready to extend support to Bhutan’s renewable energy initiatives within the regulatory framework of the Reserve Bank of India (RBI) and the Ministry of New and Renewable Energy (MNRE),…

Read More

As Indonesian nickel producers emerge as key global players, their greenhouse gas (GHG) emissions are expected to rise along with increased nickel production. A new report from the Institute for Energy Economics and Financial Analysis (IEEFA) examines the investment plans, financial performance, and the three scopes of GHG emissions for four major nickel companies listed in the country, PT Aneka Tambang (Antam), Merdeka Battery Materials (MBMA), Trimegah Bangun Persada (TBP Harita), and PT Vale Indonesia (Vale).“In 2023, these four Indonesian nickel companies represented 26% of Indonesia’s primary nickel production with an output of 353,000 tonnes, and generated GHG emissions of…

Read More

The Asian Infrastructure Investment Bank (AIIB) has approved investments in Endiya Partners Fund III under the AIIB Venture Capital (VC) Investment Program. The investments will support early-stage companies focused on green and technology-enabled infrastructure in India and Southeast Asia.Launched in December 2022, AIIB’s VC Investment Program for Green and Technology-Enabled Infrastructure began with a commitment of USD100 million, with an additional USD30 million for co-investments. The program aims to fill the capital gap for early-stage ventures by investing through small-scale VC funds.Endiya Partners Fund III will invest in early-stage start-ups in India, focusing on intellectual property that aligns with AIIB’s…

Read More

Advario Asia Pacific (Advario), VFlowTech (VFT), and JTC today signed a Memorandum of Understanding (MoU) to collaborate on scaling up vanadium redox flow battery (VRFB) capacity for clean energy storage on Jurong Island.Under the MoU, the three parties will explore using Advario’s tank infrastructure to scale VFT’s VRFB technology up to 40MWh, about 25 times its current capacity. This is equivalent to powering over 3,000 4-room HDB flats daily.The large-scale deployment aims to help optimise the storage of excess electricity generated across Singapore, particularly from renewable sources like solar, for use by the national grid during peak demand periods. It…

Read More

Sembcorp Industries (Sembcorp) through its wholly- owned subsidiary, Sembcorp Utilities Pte Ltd, and PT PLN Energi Primer Indonesia (PT PLN EPI), a sub-holding company of PT PLN (Persero), have entered into a joint development agreement (JDA) for a green hydrogen production facility in Sumatra, Indonesia, capable of producing 100,000 metric tonnes per annum. The project is poised to become Southeast Asia’s largest green hydrogen development initiative, with the goal of creating a regional green hydrogen hub connecting Sumatra, the Riau Islands, and Singapore.The JDA, signed today at the Singapore International Energy Week 2024, builds on the joint development study agreement…

Read More