Clean Investor, August 30: UN Secretary General calls for clean energy revolution

RI’s regular Tuesday look at clean investment developments

United Nations Secretary-General Ban Ki-moon has said that countries that move quickly down a clean energy pathway “will be the economic powerhouses of the 21st century”. Speaking at roundtable on sustainable energy in Denver, he called for a clean energy revolution to help transform the global economy. The UN is advocating three energy targets: universal access to modern energy services, doubling energy efficiency, and doubling the renewable energy share in the overall global energy mix.

Investing 0.16% global GDP in the water sector could reduce water scarcity and halve the number of people without sustainable access to safe drinking water and basic sanitation, according to research from the United Nations Environment Programme released in conjunction with World Water Week. “Improving access to cleaner drinking water and sanitation services is a cornerstone of a more sustainable, resource-efficient society”, said UNEP Executive Director Achim Steiner.

British Columbia Investment Management Corporation, the C$88.7bn (€63bn) Canadian pension fund, has announced plans for a sustainable new office development in downtown Vancouver. The project, 745 Thurlow, is set to be completed in the spring of 2015. Link

The Stock Exchange of Thailand says it is improving its listing criteria to attract more alternative energy businesses, adding it is “ready to provide full support in raising funds for these businesses”. It has signed a memorandum of understanding with three organizations – the Department of Alternative Energy Development and Efficiency under Ministry of Energy, Energy Regulatory Commission, and Provincial Electricity Authority. Link

Exchange operator IntercontinentalExchange has announced the first trade of the California Carbon Allowance forward contract – the first ever exchange cleared trade based on California’s new cap and trade program. The 100-contract trade, representing 100,000 California Carbon Allowances, was between NRG Power Marketing and Shell Energy North America.The Ontario Pension Board, the administrator of Ontario’s C$17bn (€12bn) Public Service Pension Plan has provided funding for Sprott Power Corp. and Firelight Infrastructure Partners’ Amherst wind project in Nova Scotia. Amherst is a 31.5MW project that is expected to be completed in the first fiscal quarter of 2012. Funding also came from Great-West Life Assurance Co.

Singapore state investor Temasek has invested in Nasdaq-listed US natural gas supplier Clean Energy Fuels Corp., via its Springleaf Investments and Seatown Holdings subsidiaries. Together with RRJ Capital Master Fund, they have invested a total of $150m in the California-based company. Announcement

Banking giant Barclays has launched a £100m (€113m) fund for UK farmers investing in renewable energy. It aims to track the “massive groundswell of interest from farmers seeking to cut energy bills and generate new income”. The fund, developed with sector specialists including National Farmers Union, is available for solar, wind, and hydro projects. Announcement

HSH Nordbank, the German bank, has teamed up with the European Investment Bank to offer a €50m loan to finance projects by private and public-sector investors in the areas of renewable energies, environment protection, sustainable municipal development and healthcare. There is also a same sized loan on offer for small and medium sized enterprises (SMEs).

The smart grid market in Europe could become a €6.8bn industry by 2016, from €3.1bn in 2012, according to analysis from GTM Research. The findings come in a new report: The Smart Grid in Europe 2012: Technologies, Market Forecasts and Utility Profiles.

Deutsche Bank has provided finance for two high power solar photovoltaic parks in Italy and Spain. They include €83m for a 48MW plant in Canaro in Italy’s Veneto region which will be sold to investors and €53m of debt financing for a 15MW plant in Toledo, Spain. Announcement