Finance

Buddha looking at China's coal
China zeros in on peak CO2 emissions, looks to new controls
CleanBiz.Asia Staff
May 23, 2013
China’s National Development and Reform Commission (NDRC) is looking at an accelerated timetable under which the country’s greenhouse gases emission will peak, with an expert source suggesting this could be as soon as 2025. The Commission is also planning to implement a carbon emissions control system during China’s 13th 5-Year Plan period (2016-2020) that will, for the first time, set a target for the country’s total CO2 emissions. This is in addition to targets for carbon and energy intensity per unit of GDP, which are being applied under the current 5-year plan.
View more
Goldman targets $487 mln war chest at Japanese renewables
May 21, 2013
Goldman Sachs is reported to have committed JPY50 billion (USD487 million) for the development of solar and wind power generating projects in Japan over the next five years.
View more
Armstrong Asset Management and IFC funding Thai solar plant
Armstrong gets IFC $20 mln, funds first SE Asia solar project
CleanBiz.Asia Staff
May 16, 2013
Singapore-based Armstrong Asset Management has received a fourth commitment of a USD20 million investment for its Armstrong South East Asia Clean Energy Fund from the International Finance Corporation (IFC), to add to its first close of USD65 million. The fund, a newly established, independent private-equity vehicle providing development capital to small-scale renewable energy and resource efficiency projects in Southeast Asia, is targeting a final close of USD150 million by August 2013.
View more
IFC commits $10 mln for China specialist LED maker
May 15, 2013
The International Finance Corporation (IFC), together with an unnamed international partner, will inject at least USD10 million into Chinese LED technology specialist Qingdao Jason Electric, a developer of deep ultraviolet LED technology for used in air and water purification and medical equipment sterilization.
View more
China, Hong Kong renewable firms drowning in debt
May 14, 2013
Renewable energy companies from China and Hong Kong are facing debts of USD3.5 billion this year and the equivalent of USD5.3 billion of notes due next year, according to a report in the Sydney Morning Herald, citing Bloomberg data.
View more
South Korea looking to set world’s highest carbon price
May 14, 2013
South Korea is paving the way for the introduction of a carbon price potentially as high as USD90 a tonne for many of the country’s key industries, according to a new report by Bloomberg New Energy Finance (BNEF) and Ernst & Young.
View more
China Guangdong Nuclear to invest $731m in wind farm off Fujian
May 13, 2013
China Guangdong Nuclear Power Group (CGN) is planning to invest 4.5 billion yuan (USD731 million) in an offshore wind farm adjacent to one of the islands of Pingtan Country, off the coast of Fujian Province. The company says, rather optimistically, that it hopes to start project construction next year.
View more
China Merchants to invest in Chinese solar farms
May 13, 2013
China Merchants New Energy Group, a Hong Kong-based renewable-energy project developer, will form a joint venture with Xinjiang Production and Construction Corps Investment Co to invest USD489 million to develop solar farms.
View more
UNEP report says green trade can bolster third world economies
May 09, 2013
Greening global trade is a vital step to achieving sustainable development, and developing countries are well positioned to help catalyze this transition, according to a new report released today by the United Nations Environment Programme (UNEP).
View more
Warren Buffett denies Suntech interest
May 07, 2013
Billionaire Warren Buffett has no plans to buy Suntech Power Holdings, according to an interview he gave to the China Business News at Berkshire Hathaway’s shareholder meeting.
View more
ADB taking $30 million stake in India’s NSL Renewable Power
May 02, 2013
The Asian Development Bank (ADB) is making a USD30 million equity investment in NSL Renewable Power (NRP), a subsidiary of the NSL Group, an agribusiness-to-infrastructure conglomerate.
View more
LDK taps HK-based Fulai for another $25.75 mln share deal
April 29, 2013
Following the fire sale of one of its subsidiaries to a Chinese government entity earlier this month, financially battered LDK Solar has now announced that it will sell 25 million new ordinary shares to Fulai Investments Limited for USD25.7 million, which is about an 8 percent discount.
View more
Detroit Electric in EV drive with China's Geely
April 26, 2013
Detroit Electric, a startup electric car company based in the US state of Michigan, is partnering with China's Geely Automobile to develop vehicles for the Chinese market, according to Bloomberg.
View more
Yingli gets powered by $165 million CDB loan agreement
April 25, 2013
Yingli Green Energy has signed two loan agreements with the China Development Bank (CDB) totalling US$165 million.
View more
Suzlon gets breathing space with $1.8 bln debt restructure
April 24, 2013
Indian wind turbine maker Suzlon on Tuesday said it has implemented a USD 1.8 billion debt restructuring package in an effort to put the company back on a sound business footing.
View more
With $1 bln green finance plan, IFC pledges $80 mln to China SMEs
April 23, 2013
The International Finance Corporation (IFC), together with the Bank of Shanghai on Saturday launched a 500 million yuan (USD80 million) financing and advisory program to support energy-efficiency and renewable-energy projects among small and medium enterprises (SMEs) in China.
View more
China aims to have carbon market legislation in place by 2015
April 19, 2013
The official in change of China’s climate change program says the country will have enabling legislation to support a national carbon market in place by 2015.
View more
Toshiba joins SunEdison in solar plant deal
April 19, 2013
Japan’s Toshiba Corp and US-based SunEdison have agreed to build solar power plants in Japan, according to the Nikkei.
View more
LDK default may signal another major solar failure for China
April 17, 2013
China-based LDK-Solar’s announcement that it could not pay almost USD24 million in debt due on April 15 has raised the specter of yet another massive solar-industry failure this year as the company needs to repay a loan 10 times larger by June.
View more
Geely and Kandi to establish electric vehicle joint venture
April 16, 2013
China automakers Geely and Kandi Vehicles are to establish a joint venture company with to invest, research, develop and produce electric vehicles (EVs) in China, according to a press release from Kandi.
View more