The Asian Infrastructure Investment Bank (AIIB) has approved a US$100 million investment into the ADM Capital Elkhorn Emerging Asia Renewable Energy Fund targeting small and medium-sized enterprises (SMEs) and projects operating in the renewable energy and energy efficiency sectors across emerging economies in Asia.
The fund opens the door to renewable energy and energy efficiency projects in emerging Asia to make it easier for them to secure financing to help get their projects off the ground. Smaller companies and projects in this industry face a financing gap because larger banks and financial institutions do not traditionally provide them loans due to their size, complex risk profile, and their need for a structured financing solution.
The fund, which has a target size of US$500 million, is expected to improve electricity access and security, promote energy efficiency and help reduce the carbon intensity of the electricity supply of AIIB’s regional members.
Climate finance accounted for 39 percent of total financing approved by AIIB in 2019, up from 35 percent over the previous three years combined.
Sky Solar Holdings, Ltd. has closed the transaction of purchasing 152,107,954 ordinary shares (including ordinary shares represented by ADSs) of the company, at US$0.25 per ordinary share, or US$2.00...
Read moreShenzhen Energy will buy three California solar power plants for approximately US$232 million from Canadian Solar, as a way to diversify their business with power plant construction.
Read more