“Global Trends in Renewable Energy Investment 2011;” by Angus McCrone, et al; published by United Nations Environment Programme (UNEP), Bloomberg New Energy Finance, Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance; July 2011; 61 pages; available at:
http://www.fs-unep-centre.org/publications/global-trends-renewable-energy-investment-2011
Search Results for: Solar
MICROCAPITAL BRIEF: Karnataka Vikas Grameena Bank Reaches $1m of Solar Power Products Financed in India
Karnataka Vikas Grameena Bank (KVGB), a government-owned financial institution in India, has financed INR 61.38 crore (USD 1 million) worth of solar products in the Indian state of Karnataka since 1994.
MICROCAPITAL BRIEF: MicroLoan Foundation Launches Solar Power Pilot Project in Malawi to Serve Women in Microfinance Groups
MicroLoan Foundation, UK-based nonprofit that works to promote entrepreneurship among women in sub-Saharan Africa, has launched a pilot project in Malawi’s rural Kasungu region that is designed to provide women entrepreneurs with an opportunity to tackle the problem of an unreliable electricity supply [1].
MICROCAPITAL BRIEF: Prathama, Aryavart Gramin, Gomti-Kashi Banks Bring Solar Lighting to India’s Rural Villages Through Microfinance
Microfinance has been successful at bringing solar lighting to India’s rural villages, according to an article in Indian science and environment magazine Down To Earth.
MICROCAPITAL BRIEF: United Nations Environment Programme (UNEP) Invests $1.8m in Solar Panels in Nepal, to be Distributed via Microloans Disbursed by Ace Development Bank, Provider of Microfinance and Traditional Banking Services
The United Nations Environment Programme (UNEP), a division of the United Nations (UN) focused on protecting natural resources, will invest USD 1.8 million to increase the use of solar power in Nepal through its Sustainable Energy Finance Initiative (SEFI). The funds will be distributed via microloans disbursed by Ace Development Bank, a financial services provider in Nepal established in 1995.
MICROCAPITAL BRIEF: HSBC India, MicroEnergy Credits, Microfinance Institution Spandana Team Up to Offer Solar-powered Lighting
The Indian division of UK-based bank HSBC has made an unspecified grant to microfinance institution (MFI) Spandana of India to contract with US-based MicroEnergy Credits (MEC) to develop products to assist microborrowers in purchasing solar-powered lighting and selling carbon credits resulting from the use of the new lighting. MEC, which has worked with several MFIs to help them launch and scale clean energy programs, will work with Spandana to create products tailored to the needs of its clients. MEC will also assist clients that purchase the solar lights to sell credits they earn by using the clean energy. The project aims to reach 1 million households, reducing the burden of collecting biomass fuel and the health risks of breathing smoke.
NEWS WIRE: Jordan Micro Credit Company Finances Purchases of Solar Systems
Source: Zawya
MICROCAPITAL STORY: Grameen Shakti Managing Director, Dipal Barua, Wins $1.5m Energy Prize for Implementing 200 Thousand Solar Panels in Bangladesh with Microfinance Scheme
The first annual Abu Dhabi based Zayed Future Energy Prize, worth USD 1.5 million, was awarded to the Founding Manager Director of Grameen Shakti, Dipal C. Barua, for his work in financing and installing over 200 thousand solar panels that have electrified the homes of approximately 2 million people in rural Bangladesh. Grameen Shakti, or “Village Energy,” was founded as a non-profit in 1996 as a sister organization of the Nobel Peace Prize winning microfinance institution Grameen Bank. Grameen Shakti’s website says that their solar power program “really took off the ground when rural clients realized (solar panels) are more cost effective than other conventional sources of energy such as kerosene and provide more utilities.” Grameen Shakti hopes to implement 1 million solar panels by 2015. As reported by the Financial Times, with over 30 million families without access to the electrical grid in Bangladesh, the potential for future growth of Grameen Shakti’s solar power program is enormous.
MICROCAPITAL STORY: NGOs, MFIs Suspend Loan Repayment for Sidr Cyclone Victims in Bangladesh, Provide Microcredit Loans for Solar Panels
Palli Karma Sahayak Foundation (PKSF), a government funding agency for Bangladeshan NGOs, has directed 32 of its partners to undertake special actions for microcredit borrowers affected by the cyclone Sidr that hit southwestern Bangladesh. The cyclone survivors are maintaining contact with the rest of the country via mobile phones powered by solar panels, which have been provided by Bangladeshan non-governmental organizations (NGOs) and microfinance institutions (MFIs).
NEWS WIRE: Bangladesh: Cellphones and Solar Panels Distributed By Microfinance Institutions Facilitate Recovery From Cyclone Disaster
Source: The Daily Star.
MICROCAPITAL STORY: Ugandan Government Initiative to Subsidise Solar Power Equipment by 45% to be Implemented by Rural Microfinance Institutions (MFIs)
The Rural Electrification Agency (REA) of Uganda, a semi-autonomous public-private partnership created by the Ugandan Government, has announced a 45% subsidy, up from the current 14%, on all solar power equipment. The subsidy will be will be promoted through a network of rural microfinance institutions (MFIs), and non-government organisations (NGOs), who will be providing a cash payout to those who install the solar systems, or a loan or a loan-offset.
Solar Power: a Welcome Resource for Entrepreneurs
A recent award given to a Bangalore-based solar electric company, SELCO, demonstrates an innovative new approach to microfinance. SELCO sells power systems that can electrify a room with one to four bulbs, and has already installed 42,000 such systems in rural
With over 1.6 billion people worldwide lacking electricity, the market for such services is vast. Apart from ensuring better livelihoods, electricity also offers financial benefits. A recent article discusses these foreseeable incentives, which include being able to save money on alternative sources of energy, as well as not being restricted to working during the daytime. The most common options for basic lighting include candles, kerosene and oil lamps, which are low-quality, cumbersome, expensive, and often dangerous, but are usually the only options available to rural families. With the help of microloans, monthly payments for access to solar power are often below what a family is currently paying for alternative sources of energy.
Additional Resources
1) Main article discussed in entry, Times of India: "Solar Power Can Light Up Villages."
2) Ashden Award: Press Release
3) Solar Electric Light Fund (SELF): Economic Benefits
MICROFINANCE PAPER WRAP-UP: “Gendered Investment Differences Among Smallholder Farmers: Evidence from a Microcredit Programme in Western Kenya,” by Keiji Jindo et al
The authors of this study conducted a client-level analysis to examine differences in the investment behavior of female and male microcredit users in Kenya. The scope included
SPECIAL REPORT: Green Action Group Celebrates 10th Anniversary at European Microfinance Week #EMW2023
Today’s opening plenary of European Microfinance Week included a celebration of the accomplishments of the European Microfinance Platform’s (e-MFP’s) Green Inclusive & Climate Smart Finance Action Group. The group has grown to 150 people and still is accepting new members.
One of the main outputs of the group is the Green Index, which helps financial services providers (FSPs) evaluate their performance in terms of green inclusive finance. The Action Group introduced the index in 2014 and most recently updated it in 2022. One of the group’s most recent outputs is the
MICROCAPITAL BRIEF: UNI2 Microcrédito of Colombia Raises $3m in Debt from Triodos Microfinance Fund, Triodos Fair Share Fund
Netherlands-based Triodos Investment Management recently disbursed a total of USD 3 million from its Triodos Microfinance Fund and Triodos Fair Share Fund to UNI2 Microcrédito, a Colombian microfinance institution (MFI), to support the growth of the MFI’s loan portfolio. Established in 2014, UNI2 provides microcredit for purposes such as
MICROCAPITAL BRIEF: David Grimaud Named CEO of Palladium Group’s Bamboo Capital Partners
The Luxembourg-based fund manager Bamboo Capital Partners recently selected David Grimaud as its CEO, marking the departure of Jean-Philippe de Schrevel, the company’s founder. Mr Grimaud has a background in impact investing and asset management
MICROCAPITAL BRIEF: BlueOrchard Sustainable Assets Fund (BOSAF) Raises $15m for Infrastructure Lending
The Swiss investment manager BlueOrchard recently raised an additional USD 14.6 million from undisclosed investors for its BlueOrchard Sustainable Assets Fund (BOSAF), an infrastructure debt fund active in “growth markets.” Among BOSAF’s outstanding placements are:
MICROCAPITAL BRIEF: Annapurna Finance Borrowing $25m from responsAbility to Boost Renewable Energy, Energy-efficiency in India
The Switzerland-based firm responsAbility Investments recently loaned USD 25 million to Annapurna Finance, a microfinance institution (MFI) seeking to reduce poverty and spread economic opportunity in India. The MFI plans to on-lend the funds to families as well as smaller businesses looking to acquire solar panels and other equipment that reduces the need for fossil fuels. As Annapurna has