The Geothermal Power Generation Project that will help increase Indonesia’s geothermal power generation capacity by 110 megawatts was approved on 28 May 2020. The $300 million loan will finance the construction and commissioning of two geothermal plants at Dieng in Central Java and Patuha in West Java by GDE, a state-owned enterprise focused on geothermal exploration, development, and power generation. The project team is led by SEEN’s Shannon Cowlin.

On 3 September ADB and the Government of Uzbekistan signed a $60 million loan for the Sustainable Hydropower Project, approved by ADB on 30 September 2019.

See how ADB is supporting Sri Lanka’s bid to increase the use of solar power and other renewable energy sources in providing electricity to the whole country and meet its commitment to the Paris Agreement on climate change. The government’s Battle for Solar Energy program envisions 1000 megawatts of solar power generation capacity by 2025—all from the rooftops of homes and businesses.

Policy recommendations to improve energy security in CAREC countries include the simultaneous increase in all four dimensions of energy security (energy resource availability, accessibility barriers, environmental acceptability, investment cost affordability), establishing a unified legal energy framework, and building a common energy market. It involves increasing the development and use of renewable energy, which will also reduce greenhouse gas emissions

Learn how the Wind Power Generation Project in Mannar Island in Sri Lanka paved the way for the first 100-MW wind park on the island’s south coast

See how ADB supports a green, resilient, and inclusive recovery in the region, incorporating climate and environmental sustainability through the support from the Association of Southeast Asian Nations (ASEAN) Catalytic Green Finance Facility (ACGF) in this Q&A.

Total climate finance in 2020 reached $5.3 billion consisting of ADB resources and co-financing, falling from $7 billion in 2019. The share of climate investments in energy across energy, multisector and other sector’s projects is 44%. A large part of these investments or 96% came from mitigation projects committed in 2020. Adaptation finance in energy accounted for 4%. Apart from having the biggest share in the total climate finance committed in 2020, climate finance in energy also increased from $1.7 billion in 2019 to $2.3 billion in 2020.

Colleagues from SERD asserts in the blog the need to integrate green financing principles and incentives into infrastructure investment instruments and structures to strike a balance between economic, social and environmental sustainability. 

ADBI’s Dina Azhgaliyeva, John Beirne, and Ranjeeta Mishra share their views on how best to fill the financing gap in renewable energy investments in the region in this blog. They assessed which among the different types of financing: asset finance, corporate research and development (R&D), public markets, and venture capital were proven to be the more effective drivers of private investment in renewable energy.

The ADB and the Government of the United Kingdom, acting through the Department of Business, Energy and Industrial Strategy, signed an agreement to establish the Artificial Intelligence and Digitalization Innovation Fund (AIDIF) under the CEFPF with an initial contribution of £10 million.