Global investment in clean energy reached a record of $243 billion in 2010, a 30 per cent increase on 2009 levels, according to research house Bloomberg New Energy Finance (BNEF).
The Subic Bay Metropolitan Authority (SBMA) in the Philippines has given the green light for the establishment of renewable energy projects in its freeport worth $125 million, officials have said.
China has unveiled a raft of targets for its energy and power sectors, revealing a plan for a rapid increase in power generation.
Manila Electric Co (Meralco) the Philippines biggest electricity distributor, is looking for up to four potential partners to help it in its foray into the power generation sector.
CLP India said it has entered into an agreement with a group of foreign banks for finance worth $288 million to set up a 1320 MW (2x660 MW) power project at Jhajjar in Haryana.
China, the world’s largest energy user, may spend 11.1 trillion yuan ($1.7 trillion) in the next decade building electricity infrastructure, the 21st Century Business Herald has reported, citing a research report by the China Electricity Council.
Toshiba Corp. announced it has agreed with US engineering service provider Shaw Group Inc. to jointly construct nuclear power plants outside Japan.
“China is responding to climate change on many fronts... [and] its efforts in developing green energy are noteworthy”, according to delegates attending the UN climate change conference in Cancun.
The Asian Development Bank (ADB) has said it will infuse 40 million dollars into two private equity funds that target promising green companies and projects in the region.
The World Bank reports that China is making progress in meeting targets to generate 15 per cent of its electricity from non-fossil fuels by 2020, though it needs to improve and expand hydro generation and deal with inefficiency in its wind-power sector.