Bangladesh to boost renewables use with $55 million World Bank loan

01/06/2018 08:56 Solar


The World Bank will provide USD 55 million (EUR 47m) in debt to Bangladesh to enhance renewable energy use in rural areas of the South Asian nation.

The funds will go for the installation of 1,000 solar irrigation pumps and 30 solar mini-grids, the World Bank said on Wednesday. In order to cut greenhouse gas emissions, about four million improved cookstoves will be installed with the financing, which will come together with an additional USD-20-million loan from the Green Climate Fund for cookstoves with lower emission levels in particular.


The credit facilities have a term of 38 years, including a six-year grace period. They will be extended through the International Development Association, the World Bank’s concessional lending unit providing grants or zero-interest loans.


The enhancements will be made as part of Bangladesh’s Second Rural Electrification and Renewable Energy Development (RERED II) initiative. According to the World Bank, the country has one of the largest domestic solar programmes globally, covering 14% of its population.


Daily (14.09.2018): Power and gas markets turned bearish on Thursday, after a 18% decline in carbon prices

14/09/2018 11:08:00

Oil crude prices lost momentum on Thursday, mainly due to investors’ focus on mounting trade tensions between the world’s major economies, the U.S. and China, that could threaten demand. Brent crude ended 2% down at $78.18 a barrel. Meanwhile, WTI crude price tumbled by 2.5% to $68.59 a barrel, despite a larger-than-expected draw in U.S. inventories.


Acciona invests US$64 million in 57MW PV project in Ukraine

14/09/2018 09:54:00

ACCIONA Energía has started construction on a 57MW PV installation in Dymerka, northern Ukraine, that will see the company invest approximately US$64 million in the site.


Engie wind JV eyes 2GW in India

14/09/2018 09:41:00

French energy company Engie and compatriot investor STOA are partnering to develop 2GW of wind capacity in India over the next five years.