Every day Information Wrap-Up: ADB Approves $600 Million Mortgage to Indonesia for Renewables

Daily News Wrap-Up_ ADB Approves $600 Million Loan to Indonesia for Renewables

Here are some notable cleantech announcements of the day from around the world:

Royal DSM announced the launch of the D15 all-purpose endurance backsheet. The newly introduced Endurance Backsheet protects a large number of solar modules with an ideal performance-cost ratio. The backsheet is fluorine-free, recyclable and has a 30% lower carbon footprint than conventional equivalents.

Canadian Solar announced that it has signed a power purchase agreement with BTG Pactual. The company also received two solar projects in a private auction from Furnas Centrais Eletricas (Furnas). For the 12-year PPA with BTG, the company will supply solar energy from a 170 MW project cluster in Minas Gerais, Brazil. In addition, Furnas will acquire two Canadian solar projects through a 15-year PPA. Canadian Solar will develop both solar projects with a total output of 692 MW. The 260 MW solar project will be located in the Brazilian state of Ceara. Another solar project with a capacity of 432 MW will be located in Piaui, Brazil.

The Asian Development Bank (ADB) has approved A $ 600 million loan is set to help State Electricity Corporation (PLN), Indonesia’s state-owned utility, expand access to electricity and promote renewable energy in eastern Indonesia. The program also includes two grants from Japan’s Poverty Reduction Fund and Asia Clean Energy, each of US $ 3 million. The second phase of the Eastern Indonesia’s Sustainable Power Grid Development Program supports PLN’s efforts to expand electricity access and improve service reliability in nine provinces in the outskirts of Kalimantan, Maluku and Papua in eastern Indonesia.

RWE, a global renewable energy company, has signed an agreement with Greencoat to sell a 49% stake in the UK offshore wind farm Humber Gateway in exchange for a cash settlement upon completion £ 648 million (~ $ 863.62 million). The sale is part of RWE’s capital rotation program. The proceeds will be used to finance further growth in the renewable energy business. With a share of 51% in the project, RWE remains the majority shareholder in the project and the wind farm will continue to be operated by RWE.

International Finance Corporation (IFC) and the Agricultural Bank of Egypt (ABE) have joined Hands to facilitate access to finance for Egyptian farmers to buy solar irrigation systems. Through this partnership, IFC will help ABE build capacity and develop new financial products to enable Egyptian farmers, most of whom do not have direct access to electricity, to buy and install solar irrigation pumps. By using solar energy to pump water, farmers could save an estimated 14 billion Egyptian pounds (~ $ 875 million) annually in diesel fuel costs while reducing greenhouse gas emissions.

Savion LLC, a US-based solar project developer, said Dominion Energy Virginia signed a power purchase agreement to receive 75 MW of renewable solar energy with the Wythe County solar project. The project is located in Wythe County in southwest Virginia, USA. The project is expected to start construction in mid-2021. Commercial operation is scheduled to begin at the end of 2022.

SMA has closed signed a contract with Sterling and Wilson for the 162 MW Columboola Solar Facility in Queensland, Australia. The company will provide the SMA solution, which includes 79 central inverters integrated in 39 medium-voltage power plants and an SMA Power Facility Controller to control the flow of electricity in the solar system. The company will start delivering SMA inverters in April 2021. The project is scheduled to start generating electricity in August 2021. The 162 MW project is intended to create 400 jobs and supply up to 100,000 households with electricity.

Orsted has signed A 15-year trade agreement with the Dogger Bank wind farm, under which the company will be responsible for trading and balancing 40% of the electricity generated from the first two phases of the 3.6 GW wind farm. Orsted will trade and balance 940 MW of renewable energy from the installed capacity of 2.4 GW in the Dogger Bank wind farms A and B on the electricity market on a daily basis and balance out the daily fluctuations in volume and prices electricity into the grid.

Here is our previous daily summary of the news.

Harsh is a reporter at Mercom India. Previously, he reported general interest stories at Indian Express. He holds a Masters Degree in Journalism from the Symbiosis Institute of Media and Communication in Pune.

More articles from Harsh Shukla.


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