Norges Bank Investment Management’s Post

BNZ and European Investment Bank (EIB) Drive 700 MW of renewable energy in Southern Europe with €166 million investment BNZ, an Independent Power Producer (IPP), has secured €166 million in financing from the European Investment Bank (EIB) to build 17 photovoltaic plants across Spain, Italy, and Portugal. This loan represents the first tranche of a total €500 million package aimed at deploying 1.7 GW of solar energy in Southern Europe by the end of 2026. These new solar plants will have a significant impact, generating enough clean energy to power 390,000 homes annually, making a substantial contribution to the climate and energy goals of these countries. The plants will be primarily located in cohesion regions —areas with a per capita income below the European Union average— emphasizing the EIB’s commitment to fostering economic growth and regional convergence. The project, supported by the InvestEU program, is part of broader efforts to mobilize over €372 billion in public and private investments between 2021 and 2027, aligning with the European Union’s climate and sustainability targets. Through this initiative, BNZ and the EIB will not only contribute to the energy transition in Spain, Italy, and Portugal but also to the broader European Union efforts to combat climate change and reduce dependence on fossil fuels. https://lnkd.in/ddkpb_qp

Today ISIF, part of Irelands National Treasury Management Agency committed €125m to a new Foresight Group fund to invest in renewable energy, battery storage and grid infrastructure. 70% of this for greenfield projects. ISIF now have €776m committed to climate related projects since 2021. This should further accelerate the rollout of renewable energy in Ireland and comes the week after the National Biomethene Strategy was published. https://lnkd.in/eFFizV_f

Investors who are interested in supporting rural electrification initiatives have several options to consider. Here are my suggestions where they can contribute: 1. Impact Investment Funds: Impact investment funds focus on projects that generate both financial returns and positive social or environmental impact. Some funds specifically target renewable energy and rural electrification projects. Examples include Acumen Fund, Calvert Impact Capital, and Triodos Investment Management. 2. Renewable Energy Infrastructure Funds: These funds invest in renewable energy infrastructure projects, including rural electrification initiatives. They typically seek to finance the development and operation of renewable energy assets such as solar, wind, or hydroelectric power plants. Examples include BlackRock Renewable Power, Global Renewable Power Fund, and Renewable Energy Trust Capital. 3. Development Finance Institutions (DFIs): DFIs are specialized financial institutions that provide funding and support to development projects in emerging economies. Many DFIs have dedicated programs and funds for renewable energy and rural electrification. Examples include the International Finance Corporation (IFC), the world Bank WB ,the African Development Bank (AfDB), and the Asian Development Bank (ADB).

The growing importance of the renewable energy sector to the Western Cape economy cannot be underestimated, with international investment powering the economy. Solar & Storage Live Cape Town #renewableinvestments #energy #opportunities

€45 million joint loan for 16 solar power plants in Poland. The European Bank for Reconstruction and Development (EBRD) and French asset manager Eiffel Investment Group (Eiffel) are supporting the development of solar energy generation in Poland by extending a joint loan of €45 million to PL-SUN Sp.z.o.o. Andrius Stonkus, Partner and CIO at Lords LB Asset Management, said: "This transaction is very significant for the development of Lords LB Asset Management portfolio of solar projects in Poland. 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.” Elisabetta Falcetti, EBRD Regional Head for Poland and the Baltic states, added: “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.” "Poland is a key market for Europe's energy transition and sovereignty. Its growing commitment to energy transition and its potential in green infrastructure fit perfectly with our long-term investment strategy and expertise," said Fabrice Dumonteil, President of Eiffel Investment Group. "We believe our presence in Warsaw, along with our cooperation with EBRD, will enable us to further accelerate our investment pace in the region. The €45 million joint bridge loan to the 16 solar photovoltaic projects portfolio sponsored by Lords LB Asset Management is an integral part of this strategy”. #photovoltaics #pv #pvpowerplant #solarpower #solarenergy https://lnkd.in/eaMpyDMR

Hardman & Co Insight: 2023 was an annus horribilis for Quoted UK Infrastructure and Renewable Energy - Consolidation is the new mantra The focus of Hardman & Co Research is on the nine quoted Infrastructure Investment Companies (IICs) and on the 22 Renewable Energy Infrastructure Funds (REIFs): the stocks analysed are all members of the Association of Investment Companies (AIC). We are updating our publication of January 2023, assessing both the lacklustre share price performances during 2023 and the key issues, including interest rates, inflation and power prices. As a 31-strong group, its combined market capitalisation is now £26.2bn (the valuation of the suspended Asian Energy Impact – formerly ThomasLloyd Energy Impact – is assumed as being zero). During 2023, all members of the group have seen their share prices drop. The most pronounced falls have occurred in the shares of the less mature funds, which lack the revenue base to underpin their former ratings. While the FTSE-100 rose by just over 2% during 2023, shares – on an unweighted basis – of the most valuable 10 funds fell by ca.11%. During both 2022 and 2023, no IIC/REIF IPOs were undertaken; in 2021, there were nine such IPOs. For a combined sector that has raised ca.£10.3bn of new funds since 2020, the 2023 fundraising levels were paltry. To be sure, 3i Infrastructure raised £102m (gross) and Gresham House Energy Storage raised £50m (gross), but there were no other major sector offerings. Instead, consolidation, not expansion, became the new sector mantra. Download the full report here: https://lnkd.in/eRuumyWm #research #insight #infrastructure #renewableenergy #energyfunds

📰 The Ireland Strategic Investment Fund (ISIF) has committed €278 million to three separate climate investments. These investments target offshore wind energy, renewable energy developers, and start-ups in energy transition📰 The latest commitments bring ISIF’s total climate investments to €636 million since 2021, representing 63.6% of its stated aim to invest €1 billion in climate from 2021 to 2026. Notably, ISIF is on track to meet this goal nearly two years ahead of schedule. The specific investments include: 🌿Copenhagen Infrastructure V: A €200 million investment in this flagship fund of Copenhagen Infrastructure Partners (CIP), which focuses on offshore wind projects. 🌿Impax New Energy Investors IV Fund: A €50 million investment targeting renewable energy asset build-out. 🌿ArcTern Ventures Fund III: A $30 million investment in start-ups applying technology to address climate and sustainability challenges. These strategic investments mark a significant step forward in Ireland's journey towards a sustainable future and we look forward to seeing them unfold. https://lnkd.in/ezC4-t8U #StakelumConsultancy #RenewableEnergy #EnergyNews #RenewableNews #Updates #CorporateFinance #Newsletter #Ireland #SolarEnergy #WindEnergy #Property #Housing #Infrastructure #StayConnected #IndustryInsights #TransactionManagement #DueDiligence #Education #MergersandAcquistions #ProfessionalServices  #RenewableEnergyFinance #DevelopmentFinance #ProjectManagement #PropertyDevelopment #Deals #Fundraising #GreenLoans #Newsletter #StayConnected #IndustryInsights #News #SubscribeNow Laura Stakelum Shannon Molloy

The European Investment Bank (EIB) and BNZ have signed a €166 million loan agreement to help with the roll-out of 17 solar PV plants across Spain, Italy, and Portugal. BNZ, an Independent Power Producer (IPP) owned by Nuveen Infrastructure (Glennmont Partners from Nuveen), secured the first tranche of a €500 million loan approved by the EIB to support the company in deploying 1.7 GW of solar photovoltaic power in southern Europe by 2026. “The new phase marked by the closing of our financing demonstrates the solidity of our business and the ambitious nature of our plans and opens a new scenario for us to explore technological and geographical diversity, and to grow in volume and team headcount, with the aim of becoming one of the largest IPPs in the market,” said Luis Selva, BNZ Managing Director. “We want to continue building a cleaner and more sustainable future, and the support from such significant financial institutions such as the EIB shows a shared long-term vision to achieve a better world.” Francesco Cacciabue, CFA, Global Head of Clean Energy Investments at Nuveen Infrastructure, added: “This significant investment marks a pivotal step towards advancing sustainable energy infrastructure in Southern Europe. This initiative will significantly contribute to the renewable energy goals of Spain, Italy and Portugal and the broader European Union’s climate objectives.” The 17 new solar plants will generate enough clean energy to power over 390,000 households per annum. “This new investment is a clear example of how the EIB is fostering the energy transition, contributing to a more sustainable energy model, and leveraging the great potential of southern European countries for renewable energy,” noted Alessandro Izzo, EIB Director of Equity, Growth Capital and Project Finance. “The project will boost energy supply security and contribute to the strategic autonomy of Europe by reducing dependency from fossil fuel imports.” #cleanenergy

CVC DIF’s Vincent Liu and Ryan Gow, M.Fin., CFA spoke to Infrastructure Investor about how decarbonisation investment is not exclusively limited to renewable energy, with value creation opportunities being created across a broad range of sectors. Read the full piece here: https://lnkd.in/eep4DSZ4

🌱🌍 Exciting News from Huadian Power International Co. Ltd. 🌍🌱 Huadian New Energy Group Corporation Limited has received Certification for its first and second green bonds, each amounting to RMB 2 billion (approximately USD 274.5 million). These bonds, issued in September 2023 and March 2024 respectively, are examples of fostering clean energy solutions in #China. 🔍 With the expert pre-issuance verification conducted by The iGreenBank #Beijing Investment Service Co., Ltd, an independent verifier approved under the Climate Bonds Standard. 🌞🌬 The proceeds will be financing 10 #onshoresolar and 3 #onshorewind power generation projects. Looking ahead, the subsequent bonds will fund an additional 8 onshore solar and 3 onshore wind project, further expanding renewable energy capacity across the region. This milestone reflects Huadian Energy's leadership in the green finance and sets a benchmark for best practice in using #greeninvestment to raise clean energy solutions with in the region. 💡Stay tuned for more updates for #ClimateBondsStandard &#Certification scheme!#GreenFinance #SustainableInvestment#CleanEnergy#RenewableEnergy #ClimateBonds #GreenBonds #Sustainability https://ow.ly/fTvV50RmTcs