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Energy Finance

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In order to achieve sustainable development, a fast energy transition from brown fossil fuels (such as coal, oil, gas) to 100% green renewable energies (such as wind power, solar power) is paramount.
IIGF is researching how BRI countries can transition their electricity generation to renewable energy to contribute to climate protection.

This document has been translated by Yiwei Qi from its Chinese original. Iran, located on the new Eurasian land-bridge of the Silk Road Economic Belt as well as the China-Central Asia-West Asia Economic Corridor, is an important point along the “Belt and Road”. In January 2016, China and Iran formally established a comprehensive strategic partnership and signed “the Memorandum of Understanding on Jointly Promoting Construction of the Silk Road Economic Belt and the 21st Century Maritime Silk Road”. Based on the concept that “the future world belongs to Asia”, Iran put forward the policy of “Look to the East” to develop relations with China from a strategic perspective. In a Joint Statement on Comprehensive Strategic Partnership between the Islamic Republic of Iran and People’s Republic of China, the two countries stated they would enhance their bilateral and multilateral cooperation in areas such as fossil fuels as well as new and…

For a Chinese version, click here. On July 26, 2019, Kenya’s National Environmental tribunal ruled that the environmental and social impact assessment (ESIA) license for the Lamu coal fired power plant in Kenya was insufficient and that the construction had to be stopped. While this ruling explicitly states that this is not a legal case against coal-fired power plants, it nevertheless comes after 3 years of intense campaigning against what would be Kenya’s first coal-fired power plant: local NGOs and stakeholder groups organized under the deCOALonize umbrella and brought the legal case against the power plant’s consortium and the Kenyan government agency that issued the ESIA license in the first place. The Lamu 2 billion USD coal-fired power plant is built by Chinese enterprises, particularly two subsidiaries of PowerChina Group (Sichuan Electric Power and Design and Consulting, Sichuan No.3 Power Construction Company) and China Huadian Corporation Power Operation Company and…

South Africa is the 2nd largest economy in Africa and one of the African countries which have signed BRI cooperation agreements with China at an early stage. During Chinese President Xi’s visit in September 2018, both countries expressed wishes to strengthen cooperation within the framework of the BRI and the China-Africa Forum to synergize development strategies. [1] In fact, there exist many intersections for China-South Africa complementation and synergy, and South Africa is one of the African countries advocating the synergizing of the BRI in Africa. [2] As the signatory country of the Paris Agreement and an Africa’s economic powerhouse, South Africa has been at the forefront of renewable energy development in Africa. South Africa is rich in solar and wind energy potential and already has the largest installed renewable energy capacity in Africa (as of 2018) when including hydropower into renewable energy, which accounts for about 57% of renewable…

Spain is located on the new Euroasian land bridge in the Silk Road Economic Belt. Although Spain has not yet officially assigned to the BRI cooperation, it has jointly released with China the Joint Statement on Strengthening Comprehensive Strategic Partnership during the visit of China’s President Xi in Nov 2018, in which it expressed its willingness to synergize the BRI with the European Infrastructure Guide Plan and the Euroasia Connectivity, while looking forward to regular dialogues and experience-sharing on promoting the usage of renewable energy and improving energy efficiency as the cornerstones to future sustainable development.[1] The resources and potential of renewable energy in Spain According to the International Renewable Energy Agency (IRENA), by the end of 2017, Spain’s installed renewable energy capacity is 47.98 GW. Among them, the capacity of wind power and hydropower are 22.99 GW and 20.03 GW, accounting for 47.9% and 41.7% respectively and in total…

During the 2nd Belt and Road Forum for International Cooperation in May 2017, Chinese President Xi Jinping announced that the China Development Bank (CDB) will provide special loans of 250 billion RMB to support BRI-related infrastructure, production capacity and financial cooperation. The special loans consist of three sub-loans, namely a special loan of 100 billion RMB for BRI infrastructure, a special BRI loan of 100 billion RMB for production capacity cooperation and a special BRI loan of 50 billion RMB for financial cooperation. By the end of 2017, CDB had obtained accumulated assets of nearly 16 trillion RMB and a balance of loans issued exceeding 11 trillion RMB on a global scale.[1] It had formed a business development framework of “one body, two wings”, in which projects in infrastructure, basic industries, pillar industries and strategic emerging industries are the “main body” while promoting coordinated regional development and urbanization and serving Chinese…