The World Bank Group member IFC issued a green bond to support biodiversity and ecosystem conservation projects in emerging markets. The five-year bond, worth 2 billion Swedish krona (about US$184 million), was underwritten by Skandinaviska Enskilda Banken AB (SEB) with sole credit support by Swedish pension fund AP7.

Also read: IFC Supports Colombia’s First Social Bond Issuance by Private Sector Companies

Advancing the Global Biodiversity Agenda

This bond marks IFC’s second green bond dedicated to biodiversity, showcasing its leadership in this growing sector.

Tom Ceusters, IFC Director for Treasury Capital Markets and Investments, said, “This issuance marks IFC’s second green bond dedicated to biodiversity, reinforcing our leadership in developing this critical market.”

He added, “By mobilizing private capital for biodiversity projects, we are demonstrating how financial innovation can address sustainability challenges while driving economic growth.”

Moreover, the bond aligns with the goals of the Global Biodiversity Framework, which was a central theme at COP16 on Biodiversity in Cali, Colombia. Ben Powell, Head of Sustainability, Fixed Income at SEB, noted that the bond exemplifies collaboration with the private sector to raise awareness and deliver impactful biodiversity projects.

IFC has been at the forefront of creating frameworks to support biodiversity finance. In 2022, IFC introduced the Biodiversity Finance Reference Guide to help investors and governments identify opportunities in biodiversity and ecosystem restoration. In 2024, IFC also released the supplement Biodiversity Finance Metrics for Impact Reporting, introducing standardized metrics to assess biodiversity investment impacts.

Also read: IFC and Central Puerto Partner to Boost Renewable Energy Supply for Argentina’s Mining Sector

Proceeds to Fund Reforestation and Forest Conservation

Green bond proceeds will also support projects including BTG Pactual Timberland Investment Group’s reforestation work in Latin America and BBVA Colombia’s biodiversity bond to restore natural forests in Colombia. These projects will help in the global efforts to conserve ecosystems and foster sustainable economic growth in emerging markets.

Sungrow, a global leader in photovoltaic (PV) inverters and energy storage systems, has announced a strategic collaboration with KTISTOR Energy for the deployment of the innovative PowerTitan 2.0 liquid-cooled Battery Energy Storage System (BESS) across several key projects in Greece.

KTISTOR Energy’s Role in Renewable Projects

KTISTOR Energy is a leading renewable energy construction company with expertise in developing wind, solar, and BESS projects. It is expanding its presence in Greece with diverse renewable energy projects nationwide.

The partnership will deploy the PowerTitan 2.0 system at four energy storage facilities in North and Central Greece. Two projects will operate under Greece’s ESS Tender scheme, while the other two will participate in the free market.

The projects include Dokos in Rodopi (8.875 MW, 25.065 MWh) and Petra in Kozani (7.8 MW, 20.055 MWh). Additionally, the authorities have licensed Agia Anna and Agia Anna II in Viotia for 7.8 MW over 3 hours, with a capacity of 30.09 MWh. The projects will deliver total capacity of 105MWh powered by Sungrow’s PowerTitan 2.0 and deliveries will begin summer 2025.

Also read: Sungrow Hosts ESS Experience Day in Milan, Showcasing Solutions for Italy’s Green Transition

The Advanced PowerTitan 2.0 System

Mr. Anastasios Gkinis, Regional Director of Sungrow for SEE, CEE and CIS, said, “We are honored by KTISTOR’s trust in Sungrow’s cutting-edge technology and our team’s commitment to providing top-level support at every stage of these landmark projects.

He added, “The PowerTitan 2.0’s deployment in Greece will further enhance grid stability and contribute to the nation’s energy transition efforts. As BESS becomes a crucial part of the further development of renewables, Sungrow is steadfast along with its partners in bridging the road towards its mission Clean power for all.”

Also read: Spearmint Energy and Sungrow USA Extend Partnership to Deploy Over 1 GWh of Energy Storage in Texas

The PowerTitan 2.0 is a cutting-edge energy storage solution designed for grid-forming applications. Its liquid-cooled technology ensures optimal thermal management, enhancing system lifespan and reducing operating costs. Additionally, the smart AC-DC block architecture of the system enables fast deployment and adaptability to projects of various sizes. With significant experience in the energy storage field, Sungrow is playing a vital role supporting the global shift to renewable energy sources.