In the News | Nov 17 2017

The KaXu Solar One concentrated solar power project, in the Northern Cape, was on presented with a Momentum of Change award at COP23, this year’s UN Climate Change Conference, in Bonn, Germany. Read More

 

In the News | Nov 07 2017

In 2008, as the urgency of global support for climate-smart development became increasingly apparent, donor and recipient countries established the Climate Investment Funds (CIF) through the multilateral development banks as a transitory financial mechanism to help provide an interim climate source of funding, pending the effectiveness of a new multilateral climate finance facility developed under the guidance of the United Nations Framework Convention on Climate Change (UNFCCC). This multilateral climate finance facility, now operationalized, is today known as the Green Climate Fund (GCF) and is becoming the central piece in channeling resources to climate change projects and programs across the developing world.

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 A solar plant with wind turbines in the background in El Bonillo, Spain. Photograph: Pablo Blazquez Dominguez/Getty Images
In the News | Nov 02 2017

Global investment could hold the key to fighting climate change, with one trillion dollars already invested in solutions such as renewables and energy efficiency, says International Finance Corporation - Read the Full Story

A solar plant with wind turbines in the background in El Bonillo, Spain. Photograph: Pablo Blazquez Dominguez/Getty Images

 

Press Release | Nov 01 2017

World Bank Board of Executive Directors approves two grants totaling US$35 million for the Renewable Energy for All project, financed by a $19.62 million grant from the Scaling-up Renewable Energy Program (SREP); and the Modern Energy Services for All project, financed by a $15.65 million grant from the Clean Technology Fund (CTF). 
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Photo: Dominic Chavez / World Bank

 

In the News | Oct 25 2017

The KaXu Solar One project became is first large-scale concentrated solar power plant with storage developed by the private sector operating in an emerging market.

The plant uses parabolic mirrors to reflect and concentrate the sun’s rays to produce heat, which then generates steam that powers turbines and produces electricity. Energy storage allows the plant to produce firm, base-load electricity even when the sun is not shining, offering a remarkable low-carbon solution to a growing African economy.

In the News | Oct 17 2017

Higher Ambition Key to Success in Building Resilience, ‘Bending Emissions Curve’ by 2020, Deputy Secretary-General Tells Climate Change Forum

 

In the News | Oct 16 2017

In paragraph 6 of it's October 12, 2017 Communique, the G24 again urges the CIF's donors to authorize the use of reflows to enhance financing from the Clean Technology Fund.

Noor 1
Press Release | Jul 12 2017

Morocco received approval for a US $25 million loan from the Climate Investment Funds’ Clean Technology Fund (CIF CTF) for a project to generate solar power through an innovative hybrid Concentrated Solar Power (CSP) and Photovoltaic (PV) solution.

In the News | Jul 11 2017

India is emerging as a front runner in the global fight against climate change, the World Bank has said, noting that the solar power is gradually displacing coal as an energy source in the Asian country.

Press Release | Jun 09 2017

 IFC, a member of the World Bank Group, today announced a landmark financing package of $55 million to build Mozambique’s first utility scale solar PV plant, which will help increase electricity sector climate resilience and deliver power to rural areas. It includes $19 million from IFC’s own account, $19 million from Climate Investment Funds, and a syndicated loan of up to $17 million.  

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