Aug 17, 2018

KfW to lend $228mn for 200MW renewable energy project in India

Olivia Minnock
1 min
German state-owned development bank KfW is lending $228mn (€200mn) to India to boost renewable energy.  

German state-owned development bank KfW is lending $228mn (€200mn) to India to boost renewable energy.  

The funding will be used to help the country provide low-interest loans for around 200MW of new energy capacity.

See also:

India invested more in renewable energy than fossil fuels in 2017

India’s largest solar plant gains government approval

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A credit line has been agreed between KfW and Indian public infrastructure finance company Rural Electrification Corporate Ltd (REC) which plans to back primarily solar and wind power projects. The financing will target private sector projects.

The new 200MW of capacity the initiative hopes to create should meet the demand of around 270,000 homes and could help offset up to 285,000 tonnes of annual CO2 emissions.

The low-interest loans on offer are to be supplemented by counterpart contributions from borrowers of up to 30% as well as funding from other lenders.

Joachim Nagel, a member of KfW’s executive board, said: “KfW’s financing to promote the increased use of renewables will make an important contribution to slowing the rise in greenhouse gas emissions and reducing the deficit in the power supply.”

 

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May 13, 2021

All but two UK regions failing on school energy efficiency

schools
energyefficiency
Renewables
Dominic Ellis
2 min
Yorkshire & the Humber and the North East are the only UK regions where schools have collectively reduced how much they spend on energy per pupil

Most schools are still "treading water" on implementing energy efficient technology, according to new analysis of Government data from eLight.

Yorkshire & the Humber and the North East are the only regions where schools have collectively reduced how much they spend on energy per pupil, cutting expenditure by 4.4% and 0.9% respectively. Every other region of England increased its average energy expenditure per pupil, with schools in Inner London doing so by as much as 23.5%.

According to The Carbon Trust, energy bills in UK schools amount to £543 million per year, with 50% of a school’s total electricity cost being lighting. If every school in the UK implemented any type of energy efficient technology, over £100 million could be saved each year.

Harvey Sinclair, CEO of eEnergy, eLight’s parent company, said the figures demonstrate an uncomfortable truth for the education sector – namely that most schools are still treading water on the implementation of energy efficient technology. Energy efficiency could make a huge difference to meeting net zero ambitions, but most schools are still lagging behind.

“The solutions exist, but they are not being deployed fast enough," he said. "For example, we’ve made great progress in upgrading schools to energy-efficient LED lighting, but with 80% of schools yet to make the switch, there’s an enormous opportunity to make a collective reduction in carbon footprint and save a lot of money on energy bills. Our model means the entire project is financed, doesn’t require any upfront expenditure, and repayments are more than covered by the energy savings made."

He said while it has worked with over 300 schools, most are still far too slow to commit. "We are urging them to act with greater urgency because climate change won’t wait, and the need for action gets more pressing every year. The education sector has an important part to play in that and pupils around the country expect their schools to do so – there is still a huge job to be done."

North Yorkshire County Council is benefiting from the Public Sector Decarbonisation Scheme, which has so far awarded nearly £1bn for energy efficiency and heat decarbonisation projects around the country, and Craven schools has reportedly made a successful £2m bid (click here).

The Department for Education has issued 13 tips for reducing energy and water use in schools.

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