GGF provides EUR 25 million in green finance to DenizBank in Turkey
A senior loan of EUR 25 million to the new partner in Turkey will increase the uptake of renewable energy, energy efficiency and resource efficiency measures, GGF said. The deal with DenizBank is seen resulting in annual primary energy savings of 58.4 GWh and a CO2 emission reduction of 13,000 tons. The Green for Growth […]
Renewables share in WB6 is still only at around 6% of installed electricity generation capacity
Western Balkans contracting parties failed to utilize the decline in the price of renewable energy technologies and increase the use of green energy, but auctions held in Albania, Montenegro, and North Macedonia are sending some encouraging signals, according to the Energy Transition Tracker. The missed opportunity could be illustrated by the fact that the cost […]
EU cuts Just Transition Fund to EUR 10 billion in COVID-19 recovery deal
The European Council reached an agreement on the seven-year budget through 2027 including a mechanism for the recovery from the effects of the coronavirus pandemic worth EUR 750 billion. The EU heads of state and government gave the green light for EUR 10 billion for the Just Transition Fund from the COVID-19 war chest, slashing […]
Tetra Pak factory in Serbia consuming only renewable electricity
Tetra Pak has a goal of reaching net zero greenhouse gas emissions within a decade and its plant in Gornji Milanovac in Serbia has contributed by consuming electricity from 100% renewable sources. Tetra Pak has announced that it obtained renewable electricity certificates that account for 100% of the electricity consumption in its factory in Gornji […]
Global investment in offshore wind power rises fourfold in first half of 2020
The allocation of funds for renewable energy from January to June outperformed data from most economic reports in the world, which can largely be attributed to offshore wind power. The sum of investment decisions in the subsector jumped 319% to USD 35 billion on an annual basis, topping the result from entire last year. The […]
Galascope completes solar power plants of 7.5 MW in Cyprus
RCB Bank financed the construction of two solar power plants in Cyprus with the help of the European Investment Bank. Galascope connected the facilities with an overall capacity of 7.5 MW to the grid and it will sell electricity in the open market. Galascope connected two photovoltaic parks of 7.5 MW in total to the […]
EFT signs concession for 60 MW solar power plant in Bileća in BiH
Energy Financing Team SE Bileća inked a deal for its first photovoltaic unit. After EFT Group’s subsidiary launched the initiative for a concession to build a 60 MW solar power plant, the Republic of Srpska started the procedure in January. The Ministry of Energy and Mining of the Republic of Srpska said Minister Petar Đokić […]
Terna Energy sells Mountain Air wind farm in US
Greece’s Terna Energy has sold the 138 MW Mountain Air wind farm in Idaho in the United States to Innergex Renewable Energy Inc. for USD 215 million. According to the Greek energy company, the operating profit of the project amounted to USD 17.6 million in 2019. The sale is expected to generate a profit of […]