Daily News Summary: India Offers $ 100 Million Sri Lanka Line Of Credit For Solar Expansion
Here are some notable cleantech announcements of the day around the world:
India has expanded a $ 100 million line of credit (LOC) in Sri Lanka to finance projects in the solar sector. A line of credit agreement in this regard has been signed between the Sri Lankan government and the Export-Import (Exim) Bank of India. With the signing of the latest lines of credit agreement, Exim Bank has so far extended nine lines of credit pacts to the Sri Lankan government on behalf of the Indian government, bringing the total value of extended lines of credit to $ 1.68 billion. of dollars. The projects covered by the extended lines of credit in Sri Lanka include the supply of petroleum products, railway projects, defense and infrastructure projects.
Landsvirkjun, the National Power Company of Iceland and the Port of Rotterdam carried out a pre-feasibility study study on the export of green hydrogen from Iceland to Rotterdam. The results indicate that such a project could be technically feasible, financially attractive, and significantly contribute to the fight against climate change as economies around the world shift from fossil fuels to renewables in the coming decades. The study shows that the first of these projects could be carried out in the second half of this decade and between 200 and 500 MW. These initial steps can contribute up to 1 tonne of CO2 reduction per year.
General Motors has increases its investments in electric vehicles and automated vehicles from 2020 to 2025 to 35 billion dollars, representing a 75% increase from its initial figures announced before the pandemic. This would include capital, engineering expenses, and other development costs. In November 2020, the company increased its planned investment over the same period to $ 27 billion.
The Wärtsilä technology group has promised its support for a co-programmed partnership between the European Commission and the Waterborne Technology Platform. The partnership aims to seek zero-emission solutions for all major types of vessels and services before 2030, enabling zero-emission inland waterway transport by 2050. A partnership agreement is to be signed during the European Research and Development Days. innovation on June 23.
Tata Engines and Tata power jointly have inaugurated a grid-synchronized solar carport at the Tata Motors car plant in Chikhali, Pune. The 6.2 MW solar carport deployed by Tata Power will produce 8,640 MWh of electricity per year. The project is expected to reduce 7,000 tonnes of carbon emissions per year and 160,000 tonnes over its life cycle. Spanning more than 30,000 square meters, the carport was considered as part of Tata Motors’ net zero carbon goal for 2039. As of August 31, 2020, Tata Motors had entered into an agreement to purchase of electricity with Tata Power to commission the solar carport, which is said to be the largest such installation in India.
The African Renewable Energy Fund II has achieved its first close at 125 million euros (~ $ 149.31 million), following a joint investment of € 17.5 million (~ $ 20.76 million) from the Sustainable Energy Fund for Africa and the Climate Technology Fund through the African Development Bank . The Africa Renewable Energy Fund II, managed by Berkeley Energy, invests in renewable energy projects at an early stage, thereby reducing the risks of the most uncertain phase of energy projects and promoting an increase in green base load in Africa’s production mix.
The International Finance Corporation, the private sector arm of the World Bank Group, and the Rockefeller Foundation (RF) ad a new partnership that aims to deploy $ 150 million of RF’s catalytic capital into blended finance. The program aims to leverage up to $ 2 billion in private sector investment in distributed renewable energy solutions. The collaboration will prioritize countries in sub-Saharan Africa, where 70% of households are not electrified.
Srinwanti is a writer at Mercom India, where she writes and edits on the clean energy spectrum. Prior to Mercom, she worked in book publishing at Macmillan Publishing House and Integra and honed her editorial and editorial skills in online and print media such as Reuters, Times Group Books, The Times of India and Pune Mirror, covering the local to international level. stories. More articles from Srinwanti Das.