MANILA (Commodity Online) : In its efforts to support renewable energy projects across Asia, the Asian Development Bank said it is planning to issue its first Clean Energy bond.

In a statement, ADB said the bond is expected to be issued in September, targeting Japanese retail investors.

The bond issue will be arranged through HSBC Securities (Japan) Ltd. and will be sold across Japan by more than 20 securities firms.

Will edible oil prices continue to weaken? For latest trends and insightful analysis on India’s oilseeds market, subscribe to Commodity Online Info Service

The bond will have four tranches, one denominated in Australian dollars, another in Turkish lira, and two others in Brazilian real, carrying four- and seven-year tenors.

ADB said it intends to help the region meet its energy security needs, facilitate a shift to a low-carbon economy, and ensure everyone in the region has access to energy.

"Clean energy is a crucial element in the fight against poverty in Asia and the Pacific," said the statement.

The insufficient energy investment in Asia is preventing many developing countries and individuals from reaching their full potential.

There are 800 million people without access to electricity and 1.8 billion relying on biomass fuels for cooking and heating, according to the bank.

ADB said it is eyeing $2 billion a year in renewable energy investments by 2013. Between 2005 and 2009, ADB's total clean energy investments exceeded $5 billio

Post your comment  (0)

Connect:

Post to Twitter

Post to Facebook