Newsletter – August 2024

Welcome to your monthly update from the world of climate finance! You’ll notice some exciting changes in this August 2024 edition of The 1.5 Perspective. We’re honing our focus on renewable energy and energy financing, providing you with deeper insights into these critical areas. Prepare for a preview of what Neufin has lined up in the coming months.

Let’s dive right in!

MARKET PULSE: INDUSTRY INSIGHTS

Andhra Pradesh to roll out Integrated Renewable Energy Policy (I-REP) on solar, wind and hybrid, energy storage, green hydrogen, and EV charging infrastructure ➜

In line with Brazil’s priorities at G20 — UAE, Azerbaijan, and Brazil advocate to boost climate funding in Rio ➜

Ultratech Cement raises $500 million through a sustainability-linked loan from six banks — promises to reduce Scope 1 emissions ➜

Nepal to export 1,000 MW electricity to India: EAM Jaishankar ➜

Rajasthan becomes first state with 50% solar in power mix ➜

ESSENTIAL READ: THIS MONTH’S MUST READ

Building the solar system: Revolutions in the funding space, SBI CAPS

SBI Capital Markets’ latest report on India’s solar sector offers a compelling dive into the financing landscape of this rapidly growing industry. Readers can expect:

1. Insights into the USD 38.5 billion funding requirement over the next two years.

2. Analysis of diverse financing needs across the solar value chain

3. Exploration of shifting funding sources and the increasing role of banks

4. Discussion on innovative capital recycling strategies, including InvITs

5. Examination of policy-driven financing needs and geopolitical risks

6. Perspectives on M&A trends and consolidation opportunities

This report offers insights into the financial challenges and opportunities influencing the future of solar energy in India,  and provides an overview of the sector’s funding dynamics.

Read more here

LATEST FROM NEUFIN

The Renewable Energy opportunity: benefits for the commercial and industrial sector

Our latest piece explores how C&Is can revolutionise their energy strategies by transitioning to renewables. We discuss how businesses can slash energy costs by 30-40%, boosting global competitiveness, and accessing cheaper capital. Learn why this shift is crucial for future-proofing your business in India’s evolving energy landscape.

CARBON MARKET MONITOR: PRICE TRENDS

Carbon credit price for the past month

Price per credit: $4.11/tCO2e (0%MoM)

Based on top 500 projects globally by volume of credits retired.

The average price per credit was stable at $4.11, down only $0.01 from last month. Nature-based solutions are now priced at $3.97 per credit, seeing an increase of 9.37% month on month. Household devices decreased by 6.9% compared to last month, currently at $4.31 per credit. Puro biochar projects witnessed a slight decrease of 2.16%, now priced at $149.02 per credit.

MEET US AT

Net Zero Steel Forum, Mumbai

2 September, 2024

CII Roundtable on Climate Resilient Dairy, New Delhi

3 September, 2024

We will be on the ground and would love to meet. Please email shrey@neufin.co or arshiya@neufin.co to arrange a meeting.

We’ll be back with more interesting updates next month.

Team Neufin