8 December '10
3:26 PM UTC
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Renewables

Exclusive: Developer to Wrap Financing For LatAm Hydro Project

A Norwegian developer is close to securing financing supporting the construction of a 168 megawatts,  hydro project in Peru. Read More »

10 November '10
4:03 PM UTC
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  Geothermal

IFC Closes $160M Financing For LatAm Geothermal Expansion

The World Bank’s International Finance Corporation (IFC) recently closed a debt financing supporting the expansion of a geothermal power plant in Nicaragua. Read More »

10 June '10
9:40 AM UTC
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  Wind

Acciona Energia Secures $375M Debt Financing For 250 MW Wind Farm

Funding for Acciona Energia’s $600 million, 250-megawatt Eurus wind farm in southern Mexico is taking shape. Yesterday, the World Bank’s International Finance Corp. (IFC) announced that it will lead a $375 million debt financing supporting the construction of the wind farm, which is considered to be one of the largest of its kind in Latin America.

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2 June '10
3:05 PM UTC
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Uncategorized

Cornerstone Conversation: Manoj Sinha, Co-Founder, Husk Power Systems

Husk Power Systems's co-founder Manoj Sinha

Manoj Sinha and his partners initially  launched Husk Power Systems to achieve one goal: bring electricity to villagers in  their native Bihar province and, in doing so, help lift them out of poverty.  To do this they developed a simple and inexpensive rice-powered electric plant (Bihar is in India’s rice belt), which generates enough power to meet the demand of up to 4,000 villagers. Their innovative green power plant has put Husk Power on the radar screen of key investors including the World Bank’s International Finance Corporation. This socially-motivated, for-profit business is deploying its plants  in Bihar but, starting next year, they plans to expand across India and overseas.

Green Energy Reporter: What led you and your partners to launch Husk Power Systems?

Manoj Sinha: My partners (Ratnesh Yadav, Gyanesh Pandey — see for a full list of Husk Power Systems’ founders) and I grew up in Bihar, one of India’s poorest states. The province lags behind in all key statistics: literacy rates, infant mortality, etc. I left Bihar to attend the Indian Institute of Technology in Varanasi, where I studied electrical engineering. While at university, we were thinking about ways we could use our skills to help our home state. We thought of various options and zeroed in on energy and, in particular, on the need to give people access to a clean, cheap and reliable electricity. We concluded that energy was a vital catalyst that could improve overall quality of life and also help support other development projects.  For us electricity is not just a service, it’s also a tool that we provide to help people go up the economic ladder.

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12 April '10
3:44 PM UTC
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  Funding

IFC Invests $1.5M In Producer of Rice-Powered Electricity

Husk Power Systems is close to securing a $1.5 million financing from the International Finance Corporation (IFC), the World Bank’s private investment arm. The funding is expected to be finalized at a meeting in May and follows last month’s $375,000 investment by the Acumen Fund.

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