Displaying 21 - 30 of 162

ADB Accelerating Renewable Energy in Mongolia with Advanced Battery Storage System

Press Releases
ULAANBAATAR, MONGOLIA (22 April 2020) — The Asian Development Bank (ADB) has approved a $100 million loan to help supply renewable energy to Mongolia by installing its first large-scale advanced battery energy storage system (BESS).“Mongolia is among the most heavily coal dependent developing…

First major private sector solar power loan for Uzbekistan signed

Press Releases
On 23 December, ADB and the Nur Navoi Solar (NNS) signed loans of up to $I7.5 million to build a 100-megawatt (MW) solar power plant that will be the first public–private partnership renewable energy project in Uzbekistan. The project will is crucial in increasing the share of renewables in the…

Hydropower plant in Pakistan approved by the Board

Press Releases
On 30 March, the Board approved a $300 million loan to finance the 300-MW  Balakot Hydropower Development Project in Pakistan. The project will increase the share of clean energy in Pakistan and improve the country’s energy security with the additional 1,143 gigawatt-hours of clean energy that…

Lotus Wind Power Project in Viet Nam Signed

Press Releases
On 27 May, ADB signed a $116 million green loan with Lien Lap Wind Power Joint Stock Company (Lien Lap), Phong Huy Wind Power Joint Stock Company (Phong Huy), and Phong Nguyen Wind Power Joint Stock Company (Phong Nguyen) to build and operate three 48-megawatt (MW) wind farms, totaling 144 MW, in…

Nonsovereign solar power project in Viet Nam signed

Press Releases
ADB and Phu Yen TTP Joint Stock Company (Phu Yen JSC) signed a $186 million loan on 9 October to install 257-megawatt solar power plant in Hoa Hoi in Phu Yen Province through the first certified green loan in the country. The project will help the country shift from its dependence on fossil-fuel…

Solar power project in Bangladesh signed

Press Releases
On 10 June ADB signed a landmark loan with Spectra Solar Park Limited for a $17.7 million financing package that will install a 35-megawatt utility-scale solar photovoltaic plant in Bangladesh. The project is one of the first private sector solar plants to be financed by multilateral…

More projects in the energy sector approved

Press Releases
On 27 November, the South Tarawa Renewable Energy Project in Kiribati was approved with funding $14.7 million from ADB’s Asian Development Fund, Strategic Climate Fund, and New Zealand. The project which is ADB’s first foray into the country’s energy sector aims to reduce the dominance of…

New CWEN Director appointed

Press Releases
Joonho Hwang goes back to where it all started, this time to lead the division and continue the legacies built in years’ past. Upon assumption of office, Joonho will leave the Cambodia Resident Mission where he has been its Principal Portfolio Management specialist since 2018. Joonho holds a…

RBL in Indonesia and a grid modernization project in Nepal have been approved

Press Releases
The ADB Board approved on 24 November the $600 million results-based loan to help the country’s state-owned power company, State Electricity Corporation (PLN) expand electricity access and promote renewable energy in eastern Indonesia. The RBL also includes two grants, at $3 million each, from the…

Sustainable Energy Challenges in Developing Asia

Press Releases
Despite improvements in electricity access in recent years, there are still 155 million people that remain without electricity connections in developing Asia.[1]  This is compounded by the very low rates of access to clean cooking. According to the International Energy Agency (IEA)…