CTI PFAN Asia Forum for Clean Energy Financing (AFCEF-4)
Singapore (February 28, 2014) – Ten clean energy projects that could reduce greenhouse gas emissions across Asia by over 400,000 tonnes CO2 e p.a., were presented to investors in Singapore at the CTI PFAN ASIA FORUM FOR CLEAN ENERGY FINANCING (AFCEF-4).
More than 100 financiers, clean energy experts and representatives of financial institutions from across Asia and overseas were in attendance. The Forum was 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 221 clean energy projects across Asia, Africa, Latin America and CIS & Central Asia. Globally, CTI PFAN has raised over USD 541 million of investment for 44 clean energy projects and contributed to the establishment of annual greenhouse gas (GHG) mitigation of 2 million tonnes CO2 e. In Asia, USD 350 million has been raised for 27 projects with a potential reduction of GHG emissions by over 915,000 tonnes CO2 e p.a.
The project portfolio showcased at the Forum features a total aggregate investment volume in excess of USD 164 million, spanning technologies such as biomass, hydro, solar, wind, biogas and energy access initiatives developed by entrepreneurs and companies from India, Vietnam, Philippines, Nepal and Thailand. “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.
“Today, technology diffusion plays more important role in the policy branch,” said Mr. Takeshi Nagasawa of METI, Japan / CTI Executive Comm
From the 10 showcased projects, a panel of independent judges selected D&G Vietnam Co., Ltd (VinaForest), biomass project in Vietnum, as the winner of the CTI PFAN Asia Clean Energy Financing Awards. As runners-up, CleanTech Global Renewables Inc., mini-hydro project in the Philippines, and Invictus Solar Power Pvt Ltd, solar project in India, were selected. For investors, AFCEF-4 was a compelling opportunity to access a select group of investment-ready clean energy projects with attractive potential returns, and verified environmental and development benefits. ittee Chair. “I expect even more investment to be promoted, for projects which provide developing countries with technologies, products and service contribute to fight against climate change through this prosperous forum. “
AFCEF-4 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.