Reconstruction

OPEC Fund delivers record results in 2023 with US$1.7 billion in development funding

Retrieved on: 
Monday, January 29, 2024

The organization was established 48 years ago and the 2023 results represent a record in new commitments.

Key Points: 
  • The organization was established 48 years ago and the 2023 results represent a record in new commitments.
  • OPEC Fund Director-General Dr. Abdulhamid Alkhalifa said: "In 2023, the OPEC Fund increased its impact through the delivery of development support in a challenging global environment.
  • We were also able to leverage our partnerships to mobilize development support by working with multilateral development banks and development finance institutions such as the Arab Coordination Group.
  • The issuance of the OPEC Fund's benchmark SDG bond raised US$1 billion for sustainable development projects.

Advanced Placement Program Releases Revised African American Studies Framework

Retrieved on: 
Wednesday, December 6, 2023

NEW YORK, Dec. 6, 2023 /PRNewswire/ -- Today, the Advanced Placement Program delivers its revised framework for the AP African American Studies course which will officially launch in the 2024-25 school year. This dynamic and robust course introduces students to the rich history, culture and literature of African Americans and the larger African diaspora.

Key Points: 
  • NEW YORK, Dec. 6, 2023 /PRNewswire/ -- Today, the Advanced Placement Program delivers its revised framework for the AP African American Studies course which will officially launch in the 2024-25 school year.
  • It invites students to develop analytical skills while examining African Americans' wide-ranging experiences, contributions, and creativity, and the impact of the broader African diaspora on the world we live in," said Dr. Brandi Waters, Senior Director and Program Manager of African American Studies in the Advanced Placement Program and lead author of the framework.
  • AP African American Studies is an interdisciplinary course that draws from a variety of fields—history, literature, the arts, geography, science—to explore the vital contributions and experiences of African Americans, from ancient African societies to the present.
  • For years, African American Studies has been one of the most widely requested additions to the AP Program.

AIIB Finances Second Wind Power Project in Southern Kazakhstan

Retrieved on: 
Tuesday, November 7, 2023

BEIJING, Nov. 7, 2023 /PRNewswire/ -- The Asian Infrastructure Investment Bank (AIIB) has signed a USD36-million loan agreement for the development, construction and operation of a 100-megawatt (MW) wind power plant in the Zhambyl region of Southern Kazakhstan.

Key Points: 
  • BEIJING, Nov. 7, 2023 /PRNewswire/ -- The Asian Infrastructure Investment Bank (AIIB) has signed a USD36-million loan agreement for the development, construction and operation of a 100-megawatt (MW) wind power plant in the Zhambyl region of Southern Kazakhstan.
  • The project funds will be allocated for the construction and operation of the power plant and its integration into the power grid.
  • The Shokpar 100 MW Wind Power Plant project follows the successful implementation of the 100 MW Zhanatas Wind Power Plant that sits on an adjacent land plot.
  • AIIB approved the Zhanatas project in 2019, and all its 40 turbines have been fully operational since 2021.

Final day of FII7 in Riyadh sees detailed debate on AI and trillions in investments for environment unlocked ahead of COP28 summit

Retrieved on: 
Saturday, October 28, 2023

A special AI summit was undertaken, featuring a discussion in global AI regulations featuring Dr Eric Daimler, Co-Founder & CEO of Conexus, Michael Kratsios, Managing Director of Scale AI and H.E.

Key Points: 
  • A special AI summit was undertaken, featuring a discussion in global AI regulations featuring Dr Eric Daimler, Co-Founder & CEO of Conexus, Michael Kratsios, Managing Director of Scale AI and H.E.
  • Other speakers included John Curtius, Founder Cedar Investment Management, Laurence Moroney, Lead AI Advocate and Google and Rami Qasem, EVP and Chief Commercial Officer, Beyond Limits.
  • Nicolas Carey, co-founder and Vice Chairman of Blockchain.com said "AI and the future of financial services will be highly correlated.
  • FII Institute also added two new investments to its portfolio - reaching a total of nine investments in international startups aligned with the Institute's ESG goals.

Masdar signs 1GW Clean Energy Agreement in Azerbaijan following Presidential Inauguration of Garadagh Solar Park, Largest in the Region

Retrieved on: 
Thursday, October 26, 2023

BAKU, Azerbaijan, Oct. 26, 2023 /PRNewswire/ -- Abu Dhabi Future Energy Company PJSC – Masdar, the UAE's clean energy powerhouse, has signed agreements for solar and onshore wind projects with a total capacity of 1 gigawatt (GW) in Azerbaijan, following the inauguration of the region's largest operational solar plant, the 230MW Garadagh Solar Park.

Key Points: 
  • This follows the successful development of Garadagh, Azerbaijan's first foreign investment-based independent solar power project, and the largest solar plant in the region.
  • The 1GW clean energy agreements were signed by Masdar Chief Executive Officer, Mohamed Jameel Al Ramahi, Azerbaijan Minister of Energy, HE Parviz Shahbazov and Azerbaijan Minister of the Economy, HE Mikayil Jabbarov.
  • "The UAE is proud to support Azerbaijan's clean energy goals, to generate more than 30 percent of its overall energy capacity from renewables by 2030.
  • Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said: "The inauguration of Garadagh, the largest operational plant in the region, is a milestone achievement.

Masdar signs 1GW Clean Energy Agreement in Azerbaijan following Presidential Inauguration of Garadagh Solar Park, Largest in the Region

Retrieved on: 
Thursday, October 26, 2023

BAKU, Azerbaijan, Oct. 26, 2023 /PRNewswire/ -- Abu Dhabi Future Energy Company PJSC – Masdar, the UAE's clean energy powerhouse, has signed agreements for solar and onshore wind projects with a total capacity of 1 gigawatt (GW) in Azerbaijan, following the inauguration of the region's largest operational solar plant, the 230MW Garadagh Solar Park.

Key Points: 
  • This follows the successful development of Garadagh, Azerbaijan's first foreign investment-based independent solar power project, and the largest solar plant in the region.
  • The 1GW clean energy agreements were signed by Masdar Chief Executive Officer, Mohamed Jameel Al Ramahi, Azerbaijan Minister of Energy, HE Parviz Shahbazov and Azerbaijan Minister of the Economy, HE Mikayil Jabbarov.
  • "The UAE is proud to support Azerbaijan's clean energy goals, to generate more than 30 percent of its overall energy capacity from renewables by 2030.
  • Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said: "The inauguration of Garadagh, the largest operational plant in the region, is a milestone achievement.

Citi Acts as First Issuing and Paying Agent for World Bank on Euroclear’s New D-FMI DLT Platform

Retrieved on: 
Tuesday, October 24, 2023

The EUR 100 million 3-year DNN was issued by the World Bank - International Bank for Reconstruction and Development (IBRD) - (rated Aaa/AAA) and listed on the Luxembourg Stock Exchange.

Key Points: 
  • The EUR 100 million 3-year DNN was issued by the World Bank - International Bank for Reconstruction and Development (IBRD) - (rated Aaa/AAA) and listed on the Luxembourg Stock Exchange.
  • Today is the culmination of a multi-year program with stakeholders including Citi, Euroclear and IBRD to deliver a sustainable digital infrastructure for the issuance of DNNs.
  • It is envisaged that the D-FMI will improve efficiency and growth opportunities for debt capital market participants as the infrastructure continues to develop.
  • These innovative solutions enhance Citi’s products and services including digital money, trade, securities, custody, asset servicing and collateral mobility.

Saudi Fund for Development Signs Additional $20 Million Development Loan Agreement to Fund Infrastructure Projects in the Republic of Central Africa

Retrieved on: 
Tuesday, October 17, 2023

Sultan Al-Marshad, signed today an additional development loan agreement with the Prime Minister and Minister of State in Charge of Economy, Planning, and International Corporation of the Republic of Central Africa, H.E.

Key Points: 
  • Sultan Al-Marshad, signed today an additional development loan agreement with the Prime Minister and Minister of State in Charge of Economy, Planning, and International Corporation of the Republic of Central Africa, H.E.
  • Felix Moloua, signed $20 Million Development Loan Agreement to Fund Infrastructure Projects.” (Photo: AETOSWire)
    This additional loan follows a previous loan agreement made, through which SFD initially contributed $77 million to help fund the same project.
  • The signing of today’s additional loan agreement consists of two major components, both of which will be carried out in the nation’s capital, Bangui.
  • In Central Africa, SFD has financed five development projects worth over $109 million USD, contributing to the development of a range of vital industries and fields enhancing prosperity and economic growth.

RECONSTRUCT'S PROJECT SNAPSHOT DELIVERS CURATED, 3D "WALKTHROUGHS" OF CURRENT CONSTRUCTION CONDITIONS

Retrieved on: 
Wednesday, October 11, 2023

MENLO PARK, Calif., Oct. 11, 2023 /PRNewswire/ -- Reconstruct , the leader in 3D scanning and digital twinning for construction stakeholders, released a new feature today: Project Snapshot.

Key Points: 
  • MENLO PARK, Calif., Oct. 11, 2023 /PRNewswire/ -- Reconstruct , the leader in 3D scanning and digital twinning for construction stakeholders, released a new feature today: Project Snapshot.
  • With Project Snapshot , stakeholders can rapidly share key visuals of a construction site with anyone, anywhere.
  • Reconstruct users simply curate a 3D walkthrough of their building or infrastructure, then send a link to the tour.
  • Users wanted a one-click solution for sharing the current conditions of a job site without worrying about their audiences' hardware or technical skills, and Project Snapshot does just that."

Northland Power Announces Financial Close of the 1.1 GW Baltic Power Offshore Wind Project in Poland Green Financing

Retrieved on: 
Friday, September 22, 2023

TORONTO, Sept. 22, 2023 (GLOBE NEWSWIRE) -- Northland Power Inc. (“Northland” or the “Company”) (TSX: NPI), today announced that its Baltic Power offshore wind project (“Baltic Power” or the “project”) in Poland has met all conditions and reached financial close for its 20-year CAD-equivalent $5.2 billion non-recourse green financing.

Key Points: 
  • TORONTO, Sept. 22, 2023 (GLOBE NEWSWIRE) -- Northland Power Inc. (“Northland” or the “Company”) (TSX: NPI), today announced that its Baltic Power offshore wind project (“Baltic Power” or the “project”) in Poland has met all conditions and reached financial close for its 20-year CAD-equivalent $5.2 billion non-recourse green financing.
  • A consortium of 25 financial institutions is supporting the project, including the European Investment Bank (EIB), European Bank for Reconstruction and Development (EBRD), Euler Hermes, Export and Investment Fund of Denmark and Export Development Canada.
  • Baltic Power will play an important role in helping the Polish government achieve its renewable energy target where installed capacity of offshore wind energy is expected to reach up to 11 GW by 2040.
  • Once operational, Baltic Power is expected to provide clean energy to more than 1.5 million Polish households annually.