Asia Forum for Clean Energy Financing (AFCEF-5)
The Next Generation of Clean Energy Projects in Asia
Singapore (February 6, 2015) – Nine clean energy projects that could reduce greenhouse gas emissions across Asia by over 940,000 tonnes CO2 e p.a., were presented to investors in Singapore at the CTI PFAN ASIA FORUM FOR CLEAN ENERGY FINANCING (AFCEF-5).
More than 100 financiers, clean energy experts and representatives of financial institutions from across Asia and ovrseas were in attendance. The Forumwas organized by Climate Technology Initiative’s Private Financing Advisory Network (CTI PFAN), a global multilateral initiative dedicated to connecting clean energy businesses with financing and “bridging the gap” between clean energy projects and investors.
“CTI PFAN is a creative approach to facilitating access to private capital markets to finance and implement clean energy and other environmentally sound projects,” said CTI Manager, Mr. Elmer Holt
CTI PFAN screens business plans, selects the most economically viable and environmentally beneficial projects, and provides multiple rounds of coaching and guidance before projects are presented to investors. CTI PFAN is now working on more than 296 clean energy projects across Asia, Africa, Latin America and CIS & Central Asia. Globally, CTI PFAN has raised over USD 653 million of investment for 59 clean energy projects and contributed to the establishment of annual greenhouse gas (GHG) mitigation of 2.3 million tonnes CO2 e. In Asia, USD 384 million has been raised for 32 projects witha potential reduction of GHG emissions by over950,000 tonnes CO2 e p.a.
“Every year we see an increase in the number of high quality projects seeking financing and an opportunity to cater to the growth and demand in the rapidly growing Asian market. The AFCEF platform represents a pinnacle of excellence when it comes down to such projects and provides a showcase for project developers in Asia to follow suit,” said the Chairman of SEAS, Mr. Edwin Khew.
The project portfolio showcased at the Forum features a total aggregate investment volume in excess of USD 114 million, spanning technologies such as biomass, hydro, solar, wind, biogas and energy access initiatives developed by entrepreneurs and companies from Bangladesh, India, Mongolia Nepal and Philippines.
“Today, 9 projects will present their investment pitch and I expect through this prosperous forum more investment will be facilitated for projects which provide people in developing countries with technologies, products and services that contribute to the fight against climate change.” said Mr. Takashi Kawabata of METI, Japan.
From the 9 showcased projects, a panel of independent judges selected Gham Power Nepal Private Limited, Solar project in Nepal, as the winner of the CTI PFAN Asia Clean Energy Financing Awards. As 1st runners-up, Water & Energy Nepal p. ltd, small hydro power project in Nepal, and as 2nd runners-up, 5 Star Stoves, biomass stove project in Bangladesh, were selected. For investors, AFCEF-5was a compelling opportunity to access a select group of investment-ready clean energy projects with attractive potential returns, and verified environmental and development benefits.
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AFCEF-5 is sponsored by the Climate Technology Initiative (CTI), the CTI Private Financing Advisory Network (CTI PFAN), the U.S. Agency for International Development (USAID) and the Energy for All Program of the Asian Development Bank (ADB) with support from the International Center for Environmental Technology Transfer (ICETT). It is organized in cooperation with Dawn Consulting, CleanEnergy Solutions International (CSI), PPL International, the Sustainable Energy Association of Singapore (SEAS), Impact Investment Exchange Asia (IIX) and Renewable Energy and Energy Efficiency Partnership (REEEP).
CTI PFAN is a multilateral, public-private partnership initiated by CTI in cooperation with the UN Framework Convention on Climate Change’s Expert Group on Technology Transfer.