Denmark’s CIP raises EUR 2 bn from two new green energy transition funds
Denmark’s CIP raises EUR 2 bn from two new green energy transition funds: Danish investment firm Copenhagen Infrastructure Partners (CIP) has reached financial close on its newly launched Advanced Bioenergy Fund and CI Green Credit Fund netting some EUR 2 bn in financial commitments, according to a statement. The funds will be funneled to mobilize funding for clean fuels and renewables projects, the statement notes.
More details: The CI Green Fund raised a total of EUR 1 bn from a mix of investors — including sovereign wealth funds and institutional investors across the EU and Asia-Pacific markets — to support decarbonization efforts across the EU and North America, as well as “selective jurisdictions” in the Asia Pacific market. The CI programme will provide debt financing for renewables developers across the targeted markets, the statement notes. The bioenergy fund — which raised a total of EUR 750 mn — aims to support projects focused on generating renewable biofuels from food waste and agricultural refuse in a bid to minimize reliance on carbon-intensive energy sources through direct and risk-sharing transactions, the statement notes.
Uzbekistan’s green transition gets a boost from World Bank: The World Bank signed an agreement with Uzbekistan to provide USD 46.25 mn to finance the Innovative Carbon Resource Application for Energy Transition Project (iCraft), according to a statement released last week. The funds will support the country's clean energy transition, energy efficiency, and energy subsidy reforms. “The new project is a critical first step in the gradual elimination of energy subsidies … Effective policy reforms in the energy sector would strengthen Uzbekistan’s economy while substantially reducing greenhouse gas emissions,” the World Bank’s Regional Director for Central Asia Tatiana Proskuryakova said in the statement.
ALSO- The World Bank is also reportedly discussing a USD 1 bn loan to help reform South Africa's energy sector, World Bank Director for South Africa Marie Francoise Marie-Nelly told Reuters in an interview. South Africa is currently facing its worst power crisis due to regular breakdowns of coal-powered plants. The loan will help the country transition away from coal.