Macquarie s second renewable energy fund raises €1.6bn for large scale investment
Macquarie-owned Green Investment Group s Renewable Energy Fund 2 has far exceeded its own expectations by raising over €1.6 billion in investment commitments for large scale solar and wind projects all over the world.Last week, Green Investment Group (GIG), which is part of Australia-based venture capital fund Macquarie, launched Cero Generation with the intention of building an 8 GW solar project pipeline in Europe. Today, Macquarie has announced that the GIG s Renewable Energy Fund 2 has raised over €1.6 billion in investor commitments. This is the second major GIG Renewable Energy Fund, the .
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Caribbean Receives Abu Dhabi Fund of Over $30 Million For Renewable Energy Projects
Despite the strains COVID-19 has caused economies the past year, the Abu Dhabi Fund for Development was able to complete almost $32 million worth of renewable energy projects in the island nations.
14.38MW have been injected to the electric grids of five partner countries, including Cuba, Somaliland, the Bahamas, Barbados, and Saint Vincent and the Grenadines, according to a report. These were made in the effort of reducing their carbon footprint.
Mohammad Saif Al Suwaidi, Director-General of ADFD, tells reporters that they have doubled their efforts to ensure the delivery of the projects in spite of the pandemic.
This article is reprinted from the Indexology blog of S&P Dow Jones Indices.
The U.S. Energy Information Administration (EIA) forecasts that power generation coming from renewable sources, such as wind, solar, hydro, and geothermal, should provide the majority of the world’s energy needs by 2050.1 The use of renewable energy has been increasing significantly over the last decade, however its current level of consumption still lags those of traditional sources of energy.
The primary driver behind the shift from traditional energy sources, such as petroleum, natural gas, and coal, to renewables comes from a “critical mass” of governments around the world looking to adopt policies that seek to lower the global carbon footprint.
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Zurich, 27 January 2021 / News Aktuell.- ThomasLloyd announced today that SolarArise India Projects Private Limited (“SolarArise”) has commissioned a 75 Megawatt (“MW”) Solar PV plant in Khera village, Budaun District, state of Uttar Pradesh delivering clean energy to over 100,000 people in Northern India.
In 2018, ThomasLloyd, a leader in impacting investing in emerging markets, invested in Delhi-based SolarArise alongside the Global Energy Efficiency and Renewable Energy Fund (“GEEREF”), advised by the European Investment Bank Group, and Kotak Mahindra managed Core Infrastructure India Fund (“CIIF”).
The new solar plant operates under Talettutayi Solar Projects Five Private Limited has a 25-year Power Purchase Agreement (“PPA”) with the state government
ADFD finances 90 renewable energy projects worth AED 4.7bn over a decade
ABU DHABI, 25th January, 2021 (WAM) Abu Dhabi Fund for Development (ADFD) has been supporting the country’s effort towards driving energy transition at home and around the world by financing innovative renewable-energy projects.
These initiatives have had powerful impact on the economies and the environment of beneficiary countries.
The Fund has consistently increased its portfolio of such projects, having funded 90 of them over a decade at a total value of about AED4.7 billion (US$ 1.3 billion). Cumulatively generating 9,755MW of electricity, these projects benefited 65 countries by supporting their economies and improving the quality of life.