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IFC - International Finance Corporation Grants €300 Million Sustainability-Linked Loan to Boost Iberdrola’s Renewable Projects in Emerging Markets Key Impact Points: -IFC's €300 Million Loan to Iberdrola: Supporting renewable energy projects in emerging, coal-dependent markets. -Emissions Reduction and Renewable Expansion Goals: Iberdrola targets significant emissions cuts and a doubling of its renewable capacity by 2030. -Global Energy Transition Partnership: The loan is part of a broader partnership between IFC and Iberdrola to accelerate energy transition in developing countries. -IFC's Sustainable Finance Track Record: IFC has a substantial investment history in sustainable infrastructure, including previous loans to Iberdrola subsidiaries. Alfonso García Mora #climatetech #sustainablefinance #energytransition #ESG #ESGNews

IFC has already committed a first tranche of €170 million, which will finance onshore wind projects in Poland. The company announced a green and sustainability-linked loan (SLL) of €300 million (equivalent to $329 million) to Iberdrola. The first target is to reduce Iberdrola's greenhouse gas emissions by more than 60 percent by 2030 from a 2020 baseline. Their aim is to be consistent with limiting warming to 1.5⁰C.The second, is to double Iberdrola's renewable energy capacity by 2030—also of great significance, given Iberdrola's 41+ GW of installed renewable capacity by September 2023. The loan follows two green and sustainability-linked loans to Iberdrola subsidiaries, including a $155 million loan to Neoenergia Elektro in May 2023 and a $115 million loan to Neoenergia Coelba in July 2022. These IFC investments supported network expansion and digitalization in Brazil. As of December 2023, IFC has invested over $6.2 billion in sustainable finance in infrastructure, including $3 billion in sustainability-linked financing for infrastructure companies in emerging markets. They work in more than 100 countries, using capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries. The group supplies energy to nearly 100 million people in dozens of countries where it carries out its renewables, networks and commercial activities. With a workforce of 42,000 people and assets of approximately 150 billion euros, it posted a net profit of 3,637 million euros with a tax contribution in 2022 of 7,500 million euros. The company contributes to the maintenance of 400,000 jobs in its supply chain, with annual purchases of 18 billion euros last year. A benchmark in the fight against climate change, it has allocated more than 150 billion euros over the past two decades to building a sustainable energy model based on sound environmental, social and governance (ESG) principles. IFC - International Finance Corporation Iberdrola Neoenergia #Sustainability #Sustainable #Sustainableliving #environment #reuse #gogreen #recycling #recycle #Renewableenergy #climateaction #circulareconomy #eco #plasticfree #zerowaste #earth #sustainablebusiness #sustainabledevelopment #sustainablefinance #eco #sustainable #sdg #sdgs #sustainabledevelopmentgoals #innovation #technology #ActonClimate #climateaction #climatecrisis #togetherforourclimate #theclimateconnection #Sustainability #cleanenergy #Renewableenergy #solarpower #windenergy #cleanenergy #Sustainable #innovations #recycling #upcycling #zerowaste #ecofriendly #reusability #repairability #ActionNow #globalwarming #savetheplanet #climateaction #climateemergency http://wrld.bg/LO5X50QoFvx

#partnershipforchange The IFC - International Finance Corporation and Social Investment Managers & Advisors (SIMA Funds)'s $150 million solar green bond, backed by Finland and The Global Energy Alliance for People and Planet (GEAPP), is set to revolutionize solar energy access for #SMEs in Africa. Sergio Pimenta of IFC and Vinay Kumar Bandaru of SIMA Funds underscore the significance of affordable solar financing and the bond's ESG impact. Joseph N. of GEAPP and Finland's support highlight the role of innovative finance and collaboration in promoting sustainable growth. Discover more about this initiative here https://lnkd.in/dyxrCTe4 #SolarEnergy #GreenBond #SustainableDevelopment #IFC #SIMA #GEAPP #InvestInAfrica #RenewableEnergyInitiatives

In 2022, the European Investment Bank (EIB) invested 17 billion euros in #cleaninvestments globally. 👉 We spoke with Alessandro Bragonzi, EIB Head of regional representation for the #WesternBalkans about the main trends in #renewable energy investment in the region, the lessons learnt from other markets, how to ensure that the #energytransition goes hand in hand with the #energysecurity and the role of private investment in it.

Exciting News from SIMA Funds! We're proud to announce the first close of $131 million of our $150 million SIMA Commercial & Industrial (C&I) Solar Green Bond. This significant milestone marks a pivotal step in our mission to transform Africa's commercial and industrial solar landscape.   The Bond would be one of the largest impact-driven funds exclusively focused on furthering the C&I solar landscape in Africa by offering short-term corporate financing and longer-term project financing up to 10 years to support the growth of the Small to Mid-size local African developers for individual projects less than 5MW. SIMA Commercial & Industrial Solar Green Bond B.V (SIMA Solar Bond) will finance small-scale productive-use solar projects in Africa's commercial and small industrial (C&I) sectors with an emphasis on manufacturing, services, education, healthcare, and agri-processing.   The Bond will finance over 220 MW of renewable energy projects to reduce carbon emissions by an estimated 4 million tons, enhance value chain efficiency, and create sustainable access to clean energy. Additionally, this initiative is set to support 44,000 productive jobs and dedicates at least 10% of the fund to lower-income countries.   The Bond’s approach focuses on partnering with good solar developers and doing multiple projects with them while also providing coordinated technical assistance to help create a sub-segment of SMA developers focused on projects of less than 5MW. The Bond is unique with its ESG numeric scorecard, ensuring a clear, quantifiable impact on the environment, society, and governance. Moody’s has assigned the highest grading as part of their independent opinion on the Bond’s sustainability.   This journey wouldn't be possible without the trust and support of our esteemed lenders. A special thanks to the IFC - International Finance Corporation, Shell Foundation, Foreign, Commonwealth and Development Office, The Schmidt Family Foundation, FMO - Dutch entrepreneurial development bank, DEG  - the German development finance institution, BIO - the Belgian Investment Company for Developing Countries, OeEB Oesterreichische Entwicklungsbank AG - The Development Bank of Austria, and the U.S. International Development Finance Corporation. Your partnership fuels our mission to illuminate Africa with clean, sustainable energy, driving us closer to a brighter, greener future. More information - https://lnkd.in/g7MkggyC #SIMAFunds #Africa #SolarEnergy #GreenTransition #Sustainability #SDGs #ImpactInvesting #renewableenergy

🔴JUST IN: The IFC - International Finance Corporation and Social Investment Managers & Advisors (SIMA Funds), alongside The Global Energy Alliance for People and Planet (GEAPP) and other investors, announce the first close of a $150 million Solar Green Bond—marking the first inaugural investment of the IFC-GEAPP partnership. This groundbreaking bond aims to expand access to financing for small and medium-size local developers focusing on manufacturing, services, education, healthcare, and agri-processing sectors. As one of the largest impact-driven funds exclusively focused on strengthening the solar landscape in Africa, the bond aims to finance over 220MW of on-site #solarenergy and storage projects, providing energy savings, enhancing value chains, and reducing carbon emissions by an estimated 4 million tons. Additional lenders include the Shell Foundation, The Schmidt Family Foundation, FMO Investment Management, DEG Deutsche Investitions und Entwicklungsgesellschaft mbH, BIO - the Belgian Investment Company for Developing Countries, OeEB Oesterreichische Entwicklungsbank AG - The Development Bank of Austria, and the U.S. International Development Finance Corporation. Press Release→https://lnkd.in/dndNZ96Y #LetsChangeEnergy #EnergyTransition #CleanEnergy #EnergyAccess #RenewableEnergy #ClimateFinance Joseph N. Stefanie Fairholme Sundaa Bridgett-Jones Eric Phillip Gay Annette Mutuku

The EBRD and French asset manager Eiffel Investment Group have provided a €45 million joint loan to help finance solar PV plants in Poland. The EBRD an Eiffel financing will go to PL-SUN Sp.z.o.o., a holding company owned and sponsored by Lithuanian closed-end investment company UAB Atsinaujinančios Energetikos Investicijos (AEI). AEI, managed by Lords LB Asset Management, currently operates a portfolio of around 250 MW in Poland and Lithuania. The construction bridge financing loan, comprised of €22.5 million each from the EBRD and Eiffel, will finance the construction of a 16-project portfolio solar PV power plants totalling 114.7 MW across Poland. “This transaction is very significant for the development of Lords LB Asset Management portfolio of solar projects in Poland,” said Andrius Stonkus, Partner and CIO at Lords LB. “I am glad that it not only contributes to the development of our renewable energy infrastructure in Poland, but also meets the country’s green energy strategic goals.” Once operational, the solar power plants are expected to generate a total of 122.5 GWh of clean electricity per annum, offsetting about 88,000 tonnes of carbon dioxide emissions. The Polish solar portfolio being co-financed is the first under a new partnership between EBRD and Eiffel that aims to accelerate the green transition in select regions, including across central and eastern Europe. Elisabetta Falcetti, EBRD Regional Head for Poland and the Baltic states, explained: “Unlocking additional financial resources for the renewables sector in Poland is crucial to meet the country’s ambitious green transition targets. “I am particularly pleased that this first project under the EBRD and Eiffel partnership will – thanks to the efforts of Lords – increase the renewable energy generation capacity in Poland and support the country’s shift to a greener, more sustainable energy model.” #cleanenergy

€500 million credit signed as initial tranche of an approved €700 million green loan. Loan will finance smart power #grid development and expansion, facilitating the integration of #renewable energy sources and the addition of new uses. Project supports the #REPowerEU objective of building energy #security and #reducing the European Union’s dependence on #fossil fuel #imports.

👉 Iberdrola and IFC - International Finance Corporation - World Bank extend their partnership with a 300 million loan for green projects in emerging countries. 🌱🍃🌻 More #renewables to drive #energy #transition globally. #finance #greenloan #ESG #sustainability

📢 IFC provides €300M green loan to Iberdrola for renewable energy projects in emerging markets 📰 The IFC - International Finance Corporation has today unveiled a green and sustainability-linked loan (SLL) of €300 million to Iberdrola. 🗣️ Alfonso García Mora, Vice President for Europe, Latin America, and the Caribbean at IFC, said, "This loan is a significant step in the global IFC-Iberdrola Energy Transition Partnership, which aims to support Iberdrola's expansion and re-entry into emerging markets in need of decarbonizing their energy matrix. We look forward to partnering with Iberdrola on projects that can accelerate a just and equitable transition to a low-carbon and sustainable energy future in developing and emerging markets." 📖 Link to the comment section ⬇️ #renewable #greenenergy #sustainability #tradefinance #tradefinanceglobal