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13 posts found.

Selected Category: Energy

Finnfund increases funding to Starsight, a leading C&I solar player in West Africa

Starsight, the leading Commercial and Industrial (“C&I”) solar power provider in West Africa, is delighted to announce that Finnfund and Norfund have increased their senior debt facility from 10 million USD to 20 million USD. The new funding will enable Starsight to continue to deliver its market leading energy-as-a-service hybrid solar solutions to C&I customers […]

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Fortum partners with Finnfund to speed up charging infrastructure development and growth in India

To bolster growth for electric vehicles (EV) charging infrastructure in India, Fortum signed an agreement whereby Finnfund, a Finnish development financier and professional impact investor, will invest in a minority share of Fortum’s public charging point operator (CPO), Fortum Charge and Drive India Private Limited (FCDIPL). FCDIPL is a fast-growing e-mobility infrastructure provider, owning more […]

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El Salvador solar power project produces much more than just megawatts

Harold Gordillo

Part of my job as Finnfund’s Environmental and Social Adviser is to monitor our investments over their entire life cycle. I observe the client’s compliance of critical environmental and social matters and make sure that agreed corrective actions have been implemented. That is why I recently visited our solar power investment in El Salvador. The […]

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Finnfund’s USD 10 million investment makes telecommunications in Lebanon and Guinea more reliable and energy-efficient

IPT PowerTech Group is an energy solutions provider combining specialized energy-efficient solutions with innovative telecom infrastructure. With financing from Finnfund, DEG, Proparco and European Investment Bank, IPT will modernize the energy supply infrastructure in Lebanon and Guinea. The hybrid solution utilizing solar panels and storage media will save up to 40% of energy and reduce diesel […]

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Finnfund finances energy efficient solar power solutions in Nigeria’s banking sector

Finnish development financier Finnfund has signed a pioneering 5 million US dollar long-term senior debt financing to Starsight Power Utility Limited group. Starsight offers solar-diesel-battery hybrid generation and efficient cooling and lighting solutions to commercial and industrial clients throughout Nigeria. Starsight’s solution will cut the customer’s use of fossil fuels by up to 70% thanks […]

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Wind power replaces imported oil in Cape Verde

Cabeólica wind farms in the West African island state Cape Verde cover more than 14% of the country’s current energy demand. Besides the obvious climate impact, the wind farm has generated economic growth, jobs and improved income for the benefit of Cape Verdeans. In spring 2018, Finnfund commissioned an external evaluation of the project’s impact. […]

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Finnfund to finance a power plant to reduce the emissions from a steelworks in Bosnia Herzegovina

Finnish development financier Finnfund has committed 1,8 million euros to a power plant in the city of Zenica, in Bosnia Herzegovina. The power plant will utilize the coke and blast furnace gases from the Arcelor Mittal’s steelworks as fuel and significantly reduce the air emissions of the power production. The plant will replace an old […]

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Finnfund to finance 10 solar power plants in El Salvador

Finnfund has provided a USD 15 million loan for the construction of ten solar power plants in El Salvador, Central America. Power plants are expected to be fully operational in 2019. Together, they will have a capacity of 100 megawatts. The company responsible for the project is Bosforo Ltda de CV, owned by two companies […]

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Finnfund to finance the largest wind farm in Serbia

Finnfund, together with Taaleri Aurinkotuuli, a Finnish investment fund, has made an investment in Cibuk 1 wind farm, located in Vojvodina, Northern Serbia. The 158 MW wind farm will consist of 57 GE turbines, and once operational, can produce up to 475 GWh of power per year. The wind farm is expected to reach full […]

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Finnfund to invest with an IFC-led consortium to support the world’s largest solar park in Egypt

Finnfund, a Finnish development finance company, participates in financing the construction of 13 solar power plants in southern Egypt, near the city of Aswan. The plants will be part of the larger Benban Solar Park, which, once complete, will be the largest solar installation in the world. Finnfund’s investment amounts to a total of USD […]

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