ADB sells $339 million 'clean energy' bonds

May 16, 2012
The Asian Development Bank said Wednesday it had sold $339 million worth of bonds to help fund investment in more environmentally-friendly power projects in the region.

The Asian Development Bank said Wednesday it had sold $339 million worth of bonds to help fund investment in more environmentally-friendly power projects in the region.

The three- to four-year bonds, which are denominated in Australian dollar, Brazilian real, and Turkish lira, were sold to Japanese retail investors, the Manila-based lender said.

"Asia needs to meet its growing energy needs in ways that don't pollute the air we breathe or water we drink and to do that, there needs to be more investment in projects," the bank's treasurer Mikio Kashiwagi said.

The sale was the second of its kind by the ADB, which raised $232.2 million in the same currencies in September 2010.

While 700 million still have no access to electricity, the ADB said the region accounted for about 27 percent of global energy consumption in 2007, and is expected to exceed 40 percent by 2050 as populations and wealth increase.

The bank said it invested $2.1 billion in a variety of clean last year, about half of them in .

Explore further: Intel wireless charging in a bowl coming sooner than later

add to favorites email to friend print save as pdf

Related Stories

World Bank musters $5.5 billion for solar projects

Dec 09, 2009

The World Bank announced Wednesday 5.5 billion dollars would be invested in solar energy projects in five countries of the Middle East and North Africa in a bid to combat climate change.

Facebook, Greenpeace in truce over data centers

Dec 15, 2011

(AP) -- Facebook and Greenpeace have called a truce over a clean energy feud that had the environmental group using the social network's own platform to campaign against it.

Canada awards $1.1M for energy projects

Nov 21, 2007

The Canadian government is investing in solar energy, awarding $1.1 million for projects promoting photovoltaic and solar thermal power technologies.

US grabs lead over China in clean energy race

Apr 12, 2012

The United States has regained the lead in the clean energy race, investing $48 billion last year to surpass China, which held the world's top spending spot since 2009, said a study Wednesday.

Recommended for you

Team improves solar-cell efficiency

Sep 19, 2014

New light has been shed on solar power generation using devices made with polymers, thanks to a collaboration between scientists in the University of Chicago's chemistry department, the Institute for Molecular ...

Calif. teachers fund to boost clean energy bets

Sep 19, 2014

The California State Teachers' Retirement System says it plans to increase its investments in clean energy and technology to $3.7 billion, from $1.4 billion, over the next five years.

Idealistic Norwegian sun trappers

Sep 19, 2014

The typical Norwegian owner of a solar heating system is a resourceful man in his mid-fifties. He is technically skilled, interested in energy systems, and wants to save money and protect the environment.

User comments : 0