Read the recent news about sustainable finance and green investing in EECA region in our September highlights..
"Green Finance Adoption in EECA countries" Survey Report
From May to August 2021 Greenpact conducted the "Green Finance Adoption in EECA Countries" survey among financial institutions operating in the EECA countries and interested in the development and practice of green financing tools. Access the the survey report here.
EIB Group creates Climate and Environment Advisory Council
European Investment Bank's newly established Climate and Environment Advisory Council will provide independent advice and expertise on the activities that the EIB Group is carrying out to reach its #climateaction and environmental sustainability ambitions. It will to support the objectives of the #EuropeanGreenDeal and sustainable development outside the EU. Learn more...
Uzbekistan opens RfQ for up to 500 MW of solar
The Government of Uzbekistan opens a Request for Qualification to choose independent power producers for the development of #solarprojects in the Namangan, Bukhara and Khorezm regions — solar plants will have capacities of around 150 MW, 200 MW and 100 MW, respectively. The tender is organized by the JSC "National Electric Grid of Uzbekistan" with the support of IFC - International Finance Corporation. Learn more...
EBRD lends support to Electric Networks of Armenia
USD 70 mln loan by the European Bank for Reconstruction and Development (EBRD) including a B-loan from the FMO (Dutch and co-financing from Asian Development Bank is provided to the Electric Networks of Armenia to strengthen distribution infrastructure and help reduce greenhouse gas emissions and boost the installation of small and medium-sized renewable projects with a focus on solar and wind energy. Learn more...
Ukraine unveils draft rules for renewables energy auctions
Ukraine has already adopted two targets on the renewables share in total primary energy supply: 17% in 2030 ("Sustainable Development Strategy for Ukraine by 2030") and 25% in 2035 (Energy Strategy "Safety, Energy Efficiency and Competitiveness" of 2017)." Learn more...
The EDB wins Environmental Finance's 2021 IMPACT Award for the Atyrau street lighting project
Eurasian Development Bank (EDB) invested USD 19 million for the construction and operation of street lighting networks in the Kazakhstan city of Atyrau. Within the project energy efficient and energy saving measures have been implemented to reduce maintenance costs by 36% and annual carbon dioxide emissions by 0.6828 tons. Learn more...
EBRD helps upgrade Kyiv district heating system
Kyivteploenergo will improve district heating and hot water supply in line with the EU Industrial Emissions Directive via EBRD financing backed by grants from Sweden and US Agency for International Development (USAID). The improvements will enhance energy and resource efficiency, the quality and reliability of heating and hot water supply to residential and non-residential customers. The investments will result in annual savings of more than 193,000 tonnes of CO2 equivalent and 25,000 cubic metres of water yearly. Learn more...
European Commission gearing up for issuing €250 billion of NextGenerationEU green bonds
The European Commission will soon proceed with the first green bond issuance in the month of October, subject to market conditions. The NextGenerationEU green bond framework has been drafted in accordance with the International Capital Market Association (ICMA) green bond principles — market standard for green bonds. Learn more...
EBRD supports sustainability of Kazakhstan’s power utility
One of Kazakhstan's major electricity distributor Mangistau Regional Distribution Company (MREK) receives EUR 9,5 million loan from European Bank for Reconstruction and Development (EBRD) to restructure its balance sheet, address uncertainty caused by the Covid-19 pandemic and enhance the role of women in energy. The financing will focus on strategic development objectives, e.g. integration of renewables into Kazakhstan’s grid. Learn more...
CWP Global enters Ukrainian market with acquisition of a 73 MW wind project development
The 73 MW onshore wind project in the Kherson region, together with the local development team, represents a foothold for CWP Global in the country. The project is expected to enter construction in 2023, bringing 76 million of investment and creating 360 jobs. Learn more...
Upgrade of municipal vehicle fleet in Tbilisi
The European Bank for Reconstruction and Development (EBRD) provides a EUR 9.6 million sovereign loan to the municipality of the Georgian capital for the upgrading of Tbilisi municipal services vehicle fleet. Investment will further support city’s green transition and improve air quality. Learn more...
Winner of first competitive procurement for wind power plant in Uzbekistan announced
The government of Uzbekistan announced Saudi Arabia’s ACWA Power as the winning bidder for the development of a 100-MW wind park in Karakalpakstan region. Learn more...
World installs 6.1GW of Offshore Wind in 2020, led by China
Over 6GW of new offshore wind capacity was installed last year, second only to 2019 when a record 6.2 GW of new projects were built, the report by the Global Wind Energy Council (GWEC) says. China installed the most capacity last year, adding more than 3 GW, followed by the Netherlands with nearly 1.5 GW and Belgium with 706 MW. Learn more...
The power of new thinking: EBRD and EU boost Ukrainian “climate innovators”
Six Ukrainian firms received awards within the Climate Innovation Vouchers programme. The prize covers 75 % of the eligible costs (up to EUR 50,000 and excluding VAT) of pioneering solutions and technologies implemented by these private firms to address climate change. Learn more...
The power of new thinking: EBRD and EU boost Ukrainian “climate innovators”
Six Ukrainian firms received awards within the Climate Innovation Vouchers programme. The prize covers 75 % of the eligible costs (up to EUR 50,000 and excluding VAT) of pioneering solutions and technologies implemented by these private firms to address climate change. Learn more...
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