Weekly renewables M&A round-up (Dec 2-6)
Dec 06, 2019 15:48 CESTJune 29 (Renewables Now) - The Climate Bonds Initiative (CBI) has formed a new technical working group tasked with the development of criteria for green bond investment in low-carbon electricity transmission, distribution and storage infrastructure.
The aim of the criteria will be to help determine when grid infrastructure projects and assets are consistent with the Paris goal of keeping warming below 2 degrees C and are eligible to be certified under the Climate Bonds Standard.
The technical working group convenes experts from nine organisations, including universities, consultancies and multilateral banking institutions, the CBI said on Thursday. The process will take into account feedback from an industry working group made up of bond issuers from the electrical grids sector, investors, verifiers and other intermediaries. The criteria could be released for public consultation as early as October 2018. They will then be submitted to the independent Climate Bonds Standards Board for approval.
The CBI explained that to integrate renewables at a large scale, the existing transmission networks have to be updated and expanded, with additional distribution and storage infrastructure needed. It cited data from the International Renewable Energy Agency (IRENA), according to which transforming the global grid system will require USD 9 trillion (EUR 7.7bn) in investment by 2050, which is double the sum under current and planned policies.
(USD 1 = EUR 0.858)
Weekly renewables M&A round-up (Dec 2-6)
Dec 06, 2019 15:48 CESTCanadian Solar sells 3.3-MWp UK solar plant to Elm Trading
Dec 06, 2019 13:57 CESTOctopus Renewables pockets GBP 350m in London IPO
Dec 06, 2019 9:55 CESTContourGlobal's 9-mo earnings benefit from CSP portfolio stake sale
Dec 05, 2019 13:33 CESTBP to raise stake in solar developer Lightsource BP to 50%
Dec 05, 2019 11:06 CESTFRV to develop 15-MWh energy storage project in UK
Dec 04, 2019 16:40 CEST