Six critical proposals on climate finance for African growth have been provided.
Author: Belma Biogradlija
Woodside Energy has secured $10 million in in-kind financing from the Western Australian Government for its @H2Perth project, which will provide hydrogen vehicles for commercial use in the Rockingham Industry Zone. Total expenditures on hydrogen fuel cell trucks and hydrogen refueling, production, and storage infrastructure will amount to $20 million. BGC and Centurion, who are cooperating with Woodside Energy, will encourage the early uptake of hydrogen vehicles via this project. BGC will acquire and run between five and ten hydrogen fuel cell concrete agitator trucks, whereas Centurion will acquire and operate two hydrogen prime movers. In addition, Woodside Energy intends…
This is a critical investment for western states aiming to reach their high decarbonization ambitions.
ACWA Power, a utility developer partially controlled by Saudi Arabia’s Public Investment Fund, aims to close funding for a multi-billion dollar green hydrogen project in the third quarter, according to the company’s top executive. As part of Crown Prince Mohammed bin Salman’s effort to diversify the economy, Saudi Arabia, one of the world’s leading oil exporters, aims to become the largest provider of green hydrogen by 2030, with a production target of 4 million tonnes. ACWA’s CEO Paddy Padmanathan told Reuters, when questioned about the closure of the project finance facility for the $5 billion plant expected to be erected…
Macquarie Group is part of a consortium that includes Hyundai Motor and other parties that has been awarded grant funding to assist in the delivery of 30 XCIENT Class 8 hydrogen fuel cell electric trucks (FCETs) that will be deployed in Oakland, California, and the Port of Oakland area in early 2023. The Center for Transportation and the Environment will lead the NorCAL ZERO project, which has received grants from the California Air Resources Board and the California Energy Commission’s Clean Transportation Program, as well as over $US6 million in cost-share funding from the Alameda County Transportation Commission and the…
HSBC has opened the first green trade finance facility in the Middle East and North Africa region, raising $48 million for UAE-based Lamprell to fund the development of the Seagreen offshore wind farm project off the coast of Scotland. HSBC was the sole organizer of the facility, which is also the first green guarantee in the MENA region. “This transaction demonstrates the commercial viability of green finance in the Middle East for issuers beyond sovereigns, financial institutions and the largest multinational corporations. Sustainable growth is more important than ever before for businesses that want to build back better from the…
Abu Dhabi Global Market (ADGM) and the International Renewable Energy Agency (IRENA) have signed a Memorandum of Understanding (MoU) to reflect their mutual commitment to advancing renewable finance across the UAE and the wider region. Through the MoU, ADGM and IRENA have strengthened their mutual commitment to promoting solutions which encourage investment in renewable energy. The agreement was signed by ADGM Registration Authority (RA) CEO Dhaher bin Dhaher and IRENA’s Director-General, Francesco La Camera. “We are proud to have entered into this MoU, alongside IRENA, as we reinforce our shared commitment to promoting sustainable practices across all sectors. ADGM is…
The Nordex Group successfully refinanced its EUR 1.21 billion guarantee credit facility for three years until April 2023. The guarantee facility offered by an international banking syndicate enables Nordex Group to protect its project business with customers in the respective main currencies providing bank guarantees. “Given the difficult market environment, this refinancing is an extraordinary success which we owe to our partner banks, who have made this possible by showing their confidence in Nordex and their untiring support.”Christoph Burkhard, CFO Nordex Group. This guarantee facility has been accredited as sustainable after ISS Oekom, a leading global supplier of sustainability analyzes,…
