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Singapore commits $500 million to clean energy in Asia

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The Government of Singapore has announced a $500 million investment under its FAST-P (Financing Asia’s Transition Partnership) program to support clean energy deployment and industrial decarbonisation across Asia. Launched in 2023, FAST-P aims to lower investment risks in energy transition projects by providing catalytic capital that matches private sector funds on a 1:1 basis. The goal is to mobilise a total of $5 billion using blended finance. The funding will focus on renewable energy, electric…

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Terna and IPTO agree to develop second Italy–Greece power link

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Terna, Italy’s national grid operator, and IPTO (Independent Power Transmission Operator), the Greek transmission system operator, have signed a memorandum of understanding (MoU) to develop a new high-voltage electricity interconnection named GRITA 2. The agreement, set for three years, outlines a joint governance framework for planning and coordination. It also sets the stage for future agreements related to cable and converter station procurement. The GRITA 2 project will be a high-voltage direct current (HVDC) link…

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Vietnam proposes 15 MW geothermal project for inclusion in PDP8

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The Provincial Government of Binh Dinh has proposed the inclusion of the 15 MW Hoi Van geothermal power project in Vietnam’s national power development plan VIII (PDP8). The project, to be located in Cat Hiep commune, Phu Cat district, requires an estimated investment of USD32.7 million. It is intended to diversify the province’s energy mix and contribute to national renewable energy targets. Geothermal energy is still at an early stage in Vietnam, but the country’s…

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Zelestra locks €146.6m to build six solar projects in Spain

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Zelestra has secured €146.6 million in green financing to build six solar photovoltaic (PV) projects in Spain. The projects will form two clusters—Belinchón and Brazatortas—adding a combined capacity of 237 megawatt direct current (MWdc). The financing package covers 21 power purchase agreements (PPAs). BNP Paribas and Rabobank led the arrangement. Both acted as mandated lead arrangers, issuing banks, and hedging providers. BNP Paribas also took on the role of green loan coordinator. The Belinchón cluster,…

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Masdar and Samruk-Kazyna to develop renewables in Kazakhstan

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Masdar has signed a collaboration agreement with Kazakhstan’s sovereign wealth fund, Samruk-Kazyna, to develop renewable energy and battery energy storage system (BESS) projects in the country. The signing was witnessed by Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and Kazakhstan President Kassym-Jomart Tokayev. The partners plan to launch a ’24/7′ renewable energy initiative to deliver up to 500MW of baseload clean energy, alongside BESS projects with up to 2GW of…

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AIIB, ADB, and AIF partner to boost ASEAN infrastructure and power grid

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The Asian Infrastructure Investment Bank (AIIB), Asian Development Bank (ADB), and ASEAN Infrastructure Fund (AIF) have signed a letter of intent to collaborate on ASEAN-related infrastructure projects.  The agreement outlines cooperation on high-impact projects, including the ASEAN Power Grid (APG) and ASEAN Catalytic Green Finance Facility (ACGF). The partnership will focus on project origination, co-financing, technical cooperation, and knowledge sharing. It aims to mobilise joint expertise and financial resources, aligning AIIB and ADB assistance with…

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TCL Solar and Grid Africa to deploy distributed energy in Zimbabwe and Zambia

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TCL Solar has partnered with Grid Africa to develop 100 MW of distributed solar photovoltaic and battery storage systems across Zimbabwe and Zambia.  The initiative will focus on enhancing energy access for critical sectors such as telecom, data centres, and commercial and industrial consumers. Grid Africa, a pan-African distributed energy developer, aims to deliver scalable and reliable energy solutions across the continent. The partnership targets rapid deployment by leveraging both countries’ existing transmission and distribution…

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Philippines to pilot global model for replacing coal with clean energy

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The Rockefeller Foundation and a group of international partners—ACEN Corporation, Mitsubishi Corporation, Keppel, and GenZero—are launching a pilot project in the Philippines to demonstrate a new model for replacing coal with clean energy.  The project will focus on the early retirement of the South Luzon Thermal Energy Corporation (SLTEC) coal plant, which will be replaced by a mix of solar, wind, and battery storage systems. This initiative is part of the Foundation’s Coal to Clean…

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Israel approves planning for nationwide green hydrogen pipeline

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Israel will begin work on a national blueprint for a green hydrogen pipeline following approval from the National Planning and Building Council.   The proposed system will stretch from the Jezreel Valley in the north to Eilot near Eilat in the south. It will channel green hydrogen produced from excess renewable energy to industrial zones, aiming to improve grid stability and cut fossil fuel dependence. A hydrogen valley is also planned in southern Israel. This hub…

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World Bank approves loan for Bosnia and Herzegovina’s energy transition

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On May 1, 2025, the World Bank’s Board of Executive Directors approved a €79.90 million loan and €2.89 million grant to support Bosnia and Herzegovina’s National Energy and Climate Plan. This funding aims to enhance energy security, promote economic transition, and create job opportunities in regions shifting away from coal. The Just Transition in Select Coal Regions of Bosnia and Herzegovina Project will focus on repurposing post-mining lands in Banovići, Zenica, and Kreka, facilitating the…