COP27: EU commits €35m to support Egypt’s Energy Wealth Initiative

The initiative aims to shut down 5,000MW of existing and inefficient gas-based power generation capacity and support 10,000MW of new renewables in Egypt

EBRD invests €50m in Turkish low carbon infrastructure

The financing will be received by a leasing company to invest in green projects

Masdar achieves financial close on ‘landmark’ 230MW solar plant in Azerbaijan

Once commissioned, it will generate 558GWh of green electricity and help reduce 265,000 tonnes of carbon emissions annually

EBRD backs Egypt in hydrogen development

The bank has agreed to assess green hydrogen production and storage in the North African country

MDB climate finance investment hits $66m in 2020

Throughout the last decade, MDBs have jointly given $257bn of climate finance to accelerate global decarbonisation

EBRD to help Kazakhstan’s power sector achieve carbon neutrality by 2060

They will work together on the development of renewable energy and the carbon market, the enhancement of the electrical grid and the decommissioning of old thermal capacity, among other things