CDC: Power Stations

Department for International Development written question – answered on 31st March 2020.

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Photo of Nadia Whittome Nadia Whittome Labour, Nottingham East

To ask the Secretary of State for International Development, what investments (a) CDC Group and (b) its subsidiaries have in power generation facilities using (i) diesel, (ii) crude oil and (iii) Heavy Fuel Oil as a primary or secondary fuel; and what the (A) primary fuel type, (B) secondary fuel type and (C) value is of each investment.

Photo of James Duddridge James Duddridge Parliamentary Under-Secretary (Foreign and Commonwealth Office) (Joint with the Department for International Development)

CDC has made the following investments:

Investment

Primary Fuel Type

Back-up Fuel Type

Maria Gleta

Gas

Diesel

Azura Power

Gas

Diesel

Sirajganj 4

Gas

Diesel

Summit Meghnaghat

Gas

Diesel

GVK Energy

Gas

Diesel

Termoyopal

Gas

Diesel

Early Power Limited

Gas

Diesel

Amandi Energy

Gas

Crude Oil

Karadeniz Powerships

Gas

Heavy Fuel Oil

Takoradi International Company Limited (TICO)

Light Crude Oil

Diesel

Albatros Energy

Heavy Fuel Oil

Diesel

Te Power

Heavy Fuel Oil

Diesel

Globeleq Limited - Tsavo

Heavy Fuel Oil

Diesel

Globeleq Limited - Dibamba

Heavy Fuel Oil

Diesel

Jamaica Public Services Limited

Heavy Fuel Oil

Diesel

Rabai Power Ltd

Heavy Fuel Oil

Diesel

The total net asset value of these investments, as at 31 December 2019, was $276,272,552. CDC publishes the amounts it invests directly into businesses and investment funds. Individual investment valuations are commercially sensitive and are not disclosed.

In the first two years of CDC’s current strategic period (2017-2018) it committed over $500 million to renewable energy.

Since 2015, CDC has made over $800m of commitments in green investments in a range of sectors – including renewable power, green buildings and forestry. Over the past two years, CDC has committed over $500 million to renewable energy projects, almost 25% of CDC’s total investment commitments made over this period. Building on this base, CDC have recently completed work on a new Climate Strategy that sets out a higher level of ambition on Climate and a portfolio-wide “Carbon budget” approach to Paris alignment, tied to HMG commitments to reach net zero by 2050. CDC will launch its new strategy later this year.

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