Climate Investment Funds to issue $500 mln green bond this year or next
By Ahmed Eljechtimi
RABAT, Jan 27 (Reuters) - The Climate Investment Funds (CIF)
plans to raise $500 million this year or next by issuing a green
bond to finance renewable energy projects, the organisation's
head said on Sunday.
The $8 billion fund gets most of its money from development
banks and donor countries and finances more than 300
environmentally-friendly energy projects in some 72 countries.
"U.S, European and Japanese investors are interested in
green bond offerings," Mafalda Duarte said in a phone interview,
without giving further details on where the CIF plans to issue
the green bond.
Green bonds are fixed income securities that raise capital
for projects with environmental benefits.
The CIF will use the proceeds to fund projects that could
range from promoting the transition to renewable energy and
improving resilience to climate change to stabilising power
grids amid the growing use of intermittent sources of power.
The CIF also sees opportunities in electrified transport,
She also stressed the need to cut the cost of concentrated
solar power technology, which uses mirrors or lenses to
concentrate a large area of sunlight, and to promote the
integration of regional energy markets.
Such issues will be examined at a conference on Jan. 28-29
marking the CIF's tenth anniversary.
The conference will be held in the south-eastern Moroccan
city of Ouarzazate, where the CIF contributed $535 million to
building a 580 megawatt (MW) solar power plant, the world's
(Reporting by Ahmed Eljechtimi; Editing by Mark Potter)
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