Boost for Clean Energy Projects in Victoria & Asia Pacific

The Asian Development Bank (ADB) plans to issue Clean Energy Bonds to support its clean energy projects in Asia and the Pacific. They are expected to have four tranches, one each denominated in Australian dollars and Turkish lira and two tranches in Brazilian real. Meanwhile, the Green Building Council of Australia (GBCA) has welcomed the Victorian Government’s commitment to advance renewable energy sources and options through a new Office of Solar Energy and a $30 million dollar boost.

A new Office of Solar Energy and a $30 million boost to support r

Tuesday 31 August 2010: The Green Building Council of Australia (GBCA) has welcomed the Brumby Government’s commitment to advance renewable energy sources and options.

A new Office of Solar Energy and a $30 million boost to support renewable energy technology was announced by Premier John Brumby today.

“The GBCA is always pleased to see encouragement and support for renewable energy,” says the Chief Executive of the GBCA, Romilly Madew.

“The Brumby Government continues to demonstrate strong leadership in the area of climate change, and we welcome the government’s willingness to partner with industry to produce and operate technologies which accelerate the development of renewable energy options.

“We do believe that more work needs to be done if Victorians are to cut their emissions by at least 20 per cent by 2020. Residential and commercial buildings are responsible for 23 per cent of Australia’s greenhouse gas emissions, which means that buildings should be a top priority for government action.

“There is a wealth of research that supports our message – that buildings represent the single largest opportunity for greenhouse gas abatement, outstripping the energy, transport and industry sectors combined. With the right policy support, green building can be a cost-effective solution to the nation’s climate change challenges,” Ms Madew concludes.

About the Green Building Council of Australia

The Green Building Council of Australia (GBCA) is Australia’s leading authority on green building. The GBCA was established in 2002 to develop a sustainable property industry in Australia and drive the adoption of green building practices. The GBCA has more than 900 member companies who work together to support the Council and its activities. The GBCA promotes green building programs, technologies, design practices and processes, and operates Australia’s only national voluntary comprehensive environmental rating system for buildings – Green Star.

Source: www.gbcaus.org

India Infoline News Service (1 September 2010):

The Asian Development Bank (ADB) plans to issue its inaugural Clean Energy Bond to support its clean energy projects in Asia and the Pacific.

The Clean Energy Bond is expected to have four tranches, one each denominated in Australian dollars and Turkish lira and two tranches in Brazilian real. It will carry tenors of between 4 and 7 years and will be issued in September. ADB will provide assistance to clean energy projects in an amount at least equal to the amount raised by the Clean Energy Bond.

The issuance, targeted at Japanese retail investors, will be arranged through HSBC Securities (Japan) Ltd. and will be distributed nationwide by more than 20 securities firms.

The planned bond issue follows the successful sale in April of ADB’s inaugural Water Bond, which is supporting the ADB’s work in the water sector in Asia and the Pacific.Rapid economic expansion in the region has put immense pressure on resources and the environment. The use of coal and oil and other carbon-based fossil resources to meet the region’s growing energy needs has added to the release of greenhouse gases that contribute to global climate change.

At the same time, insufficient energy investment in the region is preventing many developing countries and individuals from reaching their full potential. A quarter of the population of Asia and the Pacific – or more than 800 million people – still have no access to basic electricity services, while some 1.8 billion people continue to rely on traditional biomass fuels for cooking and heating.

“Clean energy is a crucial element in the fight against poverty in Asia and the Pacific. To put the region on a path to sustainable and inclusive economic growth, we are committed to supporting clean energy projects in the region that avoid harming people or the environment,” said ADB President Haruhiko Kuroda.

Between 2005 and 2009, ADB’s total clean energy investments exceeded US$5 bn.

Additionally, the ADB is targeting US$2 bn a year in clean energy investments by 2013 focusing on renewable energy projects such as biomass, wind, solar, hydro, and geothermal as well as on energy efficiency projects in industrial, commercial and residential sectors.

Through its clean energy program, ADB intends to help the region meet its energy security needs, facilitate a shift to a low-carbon economy, and ensure everyone in the region has access to energy.

Source: www.indiainfoline.com