New investment vehicle could bring “patient capital” to wind and solar

By Christian Roselund, PV Magazine

Non-profit CPI says that by removing barriers to direct investment in wind and solar assets, its new vehicle could lower the cost of these projects 15-17%, while attracting $4 trillion from pension funds and insurance companies.

This week London-based Climate Policy Initiative (CPI), supported by the Rockefeller Foundation, released a design for a new investment vehicle to attract this “patient capital” to renewable energy. The Clean Energy Investment Trust (CEIT) would be an investment-grade vehicle to hedge long-term liabilities, while offering a higher return than bonds and requiring lower management fees than most asset managers. Click here to read more.

Photo: Public Domain – Hybrid, solar and wind, project.

ADDITIONAL RECOMMENDED READING

Minnesota health advocates praise increased social cost of carbon
By Frank Jossi, Midwest Energy News

The Minnesota Public Utilities Commission’s (PUC) decision, passed 3-2, raises the cost of carbon to a range of $9.05 to $43.06 per short ton, from 44 cents to $4.53. It was the first update to the state’s cost of carbon in 20 years . . . It’s a good start,” Bruce D. Snyder, a member of Health Professionals for a Healthy Climate, said of Minnesota regulators’ action. “It really levels the playing field for regulators when they’re looking at the renewable energy facilities versus fossil fuel facilities.” Read the entire article here.

Photo: Xcel Energy’s Sherco coal plant in Minnesota. Credit: Minnesota Pollution Control Agency