Finance

Honduran state power company ENEE’s plan to overhaul the 300-MW Francisco Morazan (also called El Cajon) complex, the country’s largest power plant, has received a boost after the IDB approved US$18 million for the US$36.8 million project, according to BNamericas Francisco Morazán is on the Comayagua River in Cortés department, about 230 km from the capital...
Small Hydro

The World Bank has increased funding for the Haiti: Renewable Energy for All Project by approving an additional $6.9 million for the initiative. The bank’s International Development Association (IDA) will provide up to $4 million of the additional financing as a grant, and $2.9 million will be provided by the Energy Sector Management Assistance Programme...
Finance

The Climate Endowment Group and eHydro500 have created the Climate Endowment Hydropower Fund (CEHF), an institutional investment fund focused on investing in midsized hydropower plants across Europe. The Climate Endowment Group is a climate-focused investment company employing the multi-asset class endowment style pioneered by Yale and Harvard universities. eHydro500 is an interdisciplinary team of hydropower...
Finance

Renewable energies, particularly hydro, are powering a growing share of Bitcoin and other proof-of-work mined cryptoassets. The ‘3rd Global Cryptoasset Benchmarking Study’ shows that the share of renewables in the total energy consumption of proof-of-work miners globally has reached 39%. This compares with the 28% share recorded in the 2nd benchmarking study in 2018 and...
Finance

The World Bank’s Board of Executive Directors has approved $450 million in financing to support Pakistan’s transition to renewable energy resources that reduce its reliance on fossil fuel imports and lower costs of electricity production. The Khyber Pakhtunkhwa Hydropower and Renewable Energy Development Project will help shift the national energy mix to domestic clean resources...
Finance

Investment funds managed by Squadra Investimentos have increased their participation in São Paulo power generation company CESP, now holding 10.2% of the class B preference shares, according to a CESP release. Squadra is CESP’s second largest shareholder, behind Votorantim Energia Participações, which holds a 40% controlling stake it acquired from the state government during a...
Finance

Global finance to developing countries in support of clean and renewable energy reached US$21.3 billion in 2017, compared with 2010 when international financial flows were US$10 billion, according to a new indicator under the Sustainable Development Goal 7. The new indicator, monitored by the International Renewable Energy Agency (IRENA) and the Organisation for Economic Co-operation...
Marine Energy

The government of Canada has announced a $9.4 million investment in four tidal energy projects that will bring clean energy technologies to the Atlantic region and help Canada build a cleaner future, according to Natural Resources Canada (NRCan). The Honourable Bernadette Jordan, Minister of Fisheries, Oceans and the Canadian Coast Guard, on behalf of the...
Small Hydro

JSC Uzbekhydroenergo, Uzbekistan’s state hydropower producer and developer, has signed a 25-year loan agreement, worth $60 million, with the Asian Development Bank (ADB) to support implementation of the country’s ambitious national energy strategy to generate a quarter of all electricity from renewable sources by 2030, including 3.8 GW of hydro energy. It follows the recent announcement of a 20-year, €55.8 million (US$65.8 million)...
Finance

Hydropower stations constructed decades ago across Asia are in need of significant investment and upgrades to enhance their critical contribution to the region’s clean energy goals, according to a study conducted by the International Hydropower Association (IHA) for the Asian Infrastructure Investment Bank (AIIB). The study, carried out to provide a better understanding of the...