Asian Development Bank

ADB Signs Mandate with EDC for 2 GW Solar, Battery Storage in Cambodia

The renewable energy penetration looks bullish in the South East Asia. The new evidence comes from the fact that the Asian Development Bank (ADB) has signed a transaction advisory services mandate with Cambodia’s national utility company Électricité du Cambodge (EDC) to support the development of 2 GW of solar power in Cambodia. According to statement […]

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Asian Development Bank to Fund Bhutan’s First Utility-Scale Solar Project

Bhutan may well be moving beyond hydropower as far as renewable energy development in the Himalayan country is concerned. In a key development, the Asian Development Bank (ADB) has approved a $18.26 million financing for the construction of the first utility-scale solar photovoltaic power plant in Bhutan. The official statement by ADB held that the […]

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ADB-Backed Bhutanese Solar Project Seeks Bidders For Solar PV Plant

Through its Department of Renewable Energy, Bhutan’s Ministry of Economic Affairs has issued a request for proposals (RFP) for a 17.38 MW solar power plant that will be financed by an Asian Development Bank (ADB) loan and is open to bidders from all eligible source countries of the bank. The Sephu Solar PV Power Plant […]

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European Bank To Invest $21.4M In Azerbaijan’s Solar Plant

The European Bank for Reconstruction and Development (EBRD), the Asian Development Bank (ADB), the Japan International Cooperation Agency (JICA), and the Abu Dhabi Fund for Development (ADFD) have all approved a finance package of $114.2 million (USD) to help Azerbaijan diversify its energy mix. The funds will facilitate a 230 MW photovoltaic (PV) solar power […]

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Bhutan Mulling 300 MW Solar Power Addition

The Himalayan country of Bhutan is looking bullish for solar power as it plans to diversify its energy mix. Reports cited the Economic Affairs Minister of Bhutan, Lokhnath Sharma saying that Bhutan will add 300 MW of solar power in the coming years. Bhutan currently has a mere 9 MW of renewable energy other than […]

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80 MW Al Jomaih solar project in Gujarat bags ₹4 B loan from ADB

The 80 MW AJ Solar Power Project, situated in Gujarat, has been granted a Rs 4,063 million loan by the Asian Development Bank (ADB) for environmentally sustainable growth and inclusive economic progress. The project is being sponsored by Al Jomaih Energy and Water Company, which emerged as a winner in the 500 MW solar auction […]

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India replaces China in Agreement with Sri Lanka to Build 3 RE Farms

India has signed a Memorandum of Understanding with Sri Lanka to build hybrid power projects in the island country, a joint statement has revealed. The development has come after the Sri Lankan government ousted the Chinese company approved last year from these very projects recently. The projects envisage the construction of three wind turbine farms […]

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Global Alliance Launches at COP26 to Boost RE in Developing Economies

The new Global Energy Alliance for People and Planet (GEAPP) will be launched today at COP26 to accelerate investment in green energy transitions and renewable power solutions in developing and emerging economies worldwide. Over the next decade, the Alliance aims to unlock USD100 billion in public and private capital and tackle three problems: (1) POWER […]

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MDPs Committed Climate Finance Worth $66 B in 2020: Joint Report

According to the recently published 2020 Joint Report on Multilateral Development Banks’ Climate Finance, climate finance committed by major multilateral development banks (MDBs) rose to a total of $66 billion last year from $61.6 billion in 2019, of which, 58%—or $38 billion—was committed to low- and middle-income economies. The total climate cofinance committed during 2020 […]

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