Page 16 - AsiaElec Week 14 2021

AsiaElec NEWS IN BRIEF AsiaElec

investment in India goals, across economic, environmental, and NUCLEAR
social dimensions. Apart from contributing
The Green Climate Fund (GCF) has approved to India’s climate goals, GGEF contributes Japanese regulator urged
Dutch development bank FMO’s proposal to to job creation and increased economic
accelerate private and public sector investment activity. This stimulus is particularly timely to reassess TEPCO
in India’s green infrastructure projects. now, in a covid19 pandemic environment,
Through the Green Growth Equity Fund which is threatening India with the The prefectural governor of Niigata has asked
(GGEF), the Dutch development bank will economic slowdown, job losses, and negative Japan’s Nuclear Regulation Authority, NRA, to
invest $137mn in the energy value chain, implications for businesses.” reassess the capability of a local nuclear power
water, waste, and transport sectors that EverSource Capital-managed GGEF targets plant’s operator after a series of security lapses.
promote low carbon and climate-resilient raising equity capital to $940mn for India’s Governor Hanazumi Hideyo requested on
initiatives in line with India’s climate green infrastructure sectors such as renewable Monday that the regulator re-examine Tokyo
objectives and Sustainable Development energy, transport, resource efficiency, and Electric Power Company.
Goals. energy services. The programme provides His move followed the revelation that
GGEF is managed by EverSource Capital the necessary $4.5mn in technical assistance multiple sensors at the Kashiwazaki-Kariwa
which is also the executing entity of the support to create an enabling environment. plant had been broken for months and
approved GCF commitment. Dhanpal Jhaveri, CEO, EverSource Capital, alternative measures were insufficient, leaving
India faces significant climate change said: “We are delighted to receive GCF Board the facility vulnerable to intruders.
challenges mainly due to greenhouse approval for an investment in GGEF. This is A TEPCO employee also improperly
gas (GHG) emission-induced warming. the largest single country amount approved entered the plant’s central control room using
The country faces increasingly extreme by GCF ever for a private sector equity another employee’s ID card.
weather events and natural hazards, putting fund focused on climate mitigation. This Four years ago, the NRA endorsed the
pressure on critical natural resources such investment commitment strengthens our operator’s safety measures and gave the green
as water while damaging infrastructure and resolve and ability to work towards supporting light to restart two of the plant’s reactors.
threatening livelihoods. There is a need for India’s climate objectives and Sustainable In response to the governor’s request,
far-reaching mitigation, and adaptation Development Goals along with creating NRA Secretary-General Ogino Toru said the
measures since GHG emissions in India are impact and value in India’s clean energy authority will scrutinise the operator’s ability.
the third-largest in the world, contributing to ecosystem.” The NRA has instructed TEPCO to
7% of global emissions and temperature rise. By investing across the energy sector compile a report on its probe into the security
The total investment needed to ensure value chain, transport, and waste sectors, the breaches by September.
low-carbon and climate-resilient pathways for programme reduces GHG emissions and The authority plans to conduct additional
India is estimated at $2.5 trillion over 2016- increases access to alternative water resources inspections after the report is submitted to see
2030. An upcoming study by Climate Policy in India through wastewater treatment whether the company is technically capable of
Initiative finds that India is mobilising less and desalination plants. The total emission running the plant.
than 25% of the investment needed to reach reduction expected from the is the equivalent As a penalty for the security lapse, the
this target. of 166mn tons of CO2 while treating and NRA is expected to ban the utility from
Linda Broekhuizen, CEO ad interim generating an additional 5,700mn cubic transferring nuclear fuel, which would make it
at FMO: “We are excited to announce our meters of water from alternative resources for impossible to restart the plant.
second GCF project, with such a substantial use by households, farmers, and businesses.
contribution to sustainable development GREEN CLIMATE FUND

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