28 Jul '14, 12pm

[Blog] How BRICS bank can be a friend to solar

The NBD's initial US$50 billion funds are a “drop in the bucket” says Mercom CEO. Blogger Lucy Woods Last week, Brazil, Russia, India, China and South Africa (BRICS) confirmed they had joined forces to form the joint-nation New Development Bank (NDB). Each country will input an equal US$10 billion, creating an initial fund of US$50 billion, scaling up to US$100 billion in development funds. The BRICS countries jointly pledged to prioritise sustainable development, prompting commentators to herald a big potential boost for solar in emerging markets. However, with very different cultures and politics, just how much solar will realistically be supported by the new bank is open to question. Frost & Sullivan innovation consultant, Pramod Dibble has high hopes the BRICS leaders will back renewables energy, with wind and solar likely to be “at the top of the list”. If NDB follows...

Full article: http://www.pv-tech.org/editors_blog/brics_bank_to_fund_so...

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