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Bloomberg Backs Renewable Energy Scale-Up
Coverage from Financial Times, The New York Times, and others
Bloomberg Philanthropies is committing $285 million to help renewable energy industries expand in emerging and developing economies, where rising electricity demand is colliding with institutional, financing, data, and grid-related barriers.
The initiative will support industry associations, technical research, economic analysis, and assistance for governments, regulators, and investors. It forms part of a broader $590 million environmental package that also includes ocean conservation and air-quality programs.
The story now sharpens from a broad clean-energy funding announcement into a more specific initiative targeting renewable energy institution-building in named emerging markets. It also adds new implementing actors and clarifies the main operational barriers being addressed.