Industrial Policy & Trade Monitor· 2665 actions· ✨ 90 recent

Brazil's federal innovation-financing agency FINEP (Financiadora de Estudos e Projetos), under the MCTI/FNDCT umbrella, published a BRL 500 million (~USD 94.8 million) public call — "Finep Mais Inovação Brasil – Rodada 2 – Transição Energética" — offering non-repayable economic-subsidy grants for private-sector research, development and innovation projects across eight energy-transition technology lines: low-carbon electricity generation, energy storage, low-carbon hydrogen, biofuels, biogas/biomethane, and carbon capture/storage/use. Applicant companies must partner with at least one Scientific, Technological and Innovation Institution (ICT). Proposal submission opened 2026-03-03 and runs continuously until 2026-08-31 17:00 (Brasília time).

The Asian Development Bank (ADB) signed a USD 350 million financing package with Gulf Renewable Energy Company Limited (GRE), a subsidiary of Thailand's Gulf Development Public Company Limited (GULF), to fund three renewable-energy projects: two solar-plus-battery energy storage system (BESS) plants totaling 126 MW with 151 MWh of storage, and a 68 MW solar power plant. ADB provided USD 75 million from its own ordinary capital resources and acted as sole mandated lead arranger and bookrunner, mobilizing a further USD 275 million from a DBS Bank B-loan, parallel loans from DEG, Development Finance Institute Canada and Export Finance Australia, and the ADB-administered Leading Asia's Private Infrastructure Fund 2 (LEAP 2). The projects are expected to cut an average of 191,550 tons of CO2 emissions annually, supporting Thailand's 2050 net-zero target.

NIB, the multilateral development bank owned by the eight Nordic and Baltic member states, signed an 11-year, EUR 21.5 million loan with Solar Park Kvosted ApS, backed by the EU's InvestEU programme, to co-finance a 50 MW/200 MWh battery energy storage system (BESS) addition to the existing 100 MWp Kvosted solar park in Viborg Municipality, Central Jutland. The project is owned by European Energy A/S and converts the site into an integrated hybrid solar-plus-storage asset, one of the largest of its kind in Northern Europe. NIB's below-market development-bank funding cost functions as a state-adjacent subsidy for Danish renewable-energy infrastructure buildout.

On 28 January 2026 the European Commission's CINEA agency allocated a EUR 103.69 million grant to Delgaz Grid SA (Romania), Elektroenergien Sistemen Operator EAD (Bulgaria) and Transelectrica (Romania) under the 2025 Connecting Europe Facility (CEF) Energy call, funding the "CARMEN: Smart Grids Increasing RES and Interconnectivity in the SEE Region" Project of Common and Mutual Interest. The grant supports cross-border smart-grid works to strengthen electricity interconnection and renewable-energy integration between Romania and Bulgaria. It is one of 14 cross-border energy infrastructure projects sharing roughly EUR 650 million from the same call round. CINEA formally awarded the grant certificate for the project on 21 May 2026 at the Energy Infrastructure Forum.

On 28 January 2026 the European Commission's CINEA agency allocated a EUR 180.03 million grant to Repsol Generación Electrica SA under the 2025 Connecting Europe Facility (CEF) Energy call, funding the "Construction of the Reversible Pumped-Storage Hydroelectric Power Plant AGUAYO II" Project of Common and Mutual Interest in Cantabria, Spain. It was the single largest individual allocation of the round and the only pumped-storage project among the 14 cross-border energy infrastructure projects sharing roughly EUR 650 million from the same call. AGUAYO II will support electricity system flexibility and renewable-energy integration; CINEA states it will reduce curtailment of renewable output by an estimated 1,438 GWh/year (about 7.3% of Spain's total curtailed renewables) and cut CO2 emissions by roughly 566,000 tonnes/year by displacing two nearby combined-cycle gas plants. CINEA formally awarded the grant certificate for the project on 21-22 May 2026 at the 12th Energy Infrastructure Forum in Copenhagen. Commissioning is targeted for 31 December 2030.

The New Development Bank (NDB), the BRICS-founded multilateral development bank headquartered in Shanghai, signed a USD 100 million equivalent, five-year RMB-denominated loan agreement with Shanghai Rural Commercial Bank Co Ltd for the "Greener Shanghai Project." The facility is an on-lending line: Shanghai Rural Commercial Bank will channel the proceeds to sustainable sub-projects across the city, including wind and solar power, environmental-conservation infrastructure, and digital-infrastructure development, expected to benefit roughly 25 million residents of Shanghai and the wider Yangtze River Delta. NDB below-market development-bank pricing functions as an indirect state-adjacent subsidy for Shanghai's green and digital-infrastructure build-out.

The People's Bank of China announced on 2026-01-15 that it is widening the scope of its Carbon Emission Reduction Support Tool (碳减排支持工具) to cover energy-saving retrofits, green upgrades, and energy green low-carbon transformation projects with direct carbon-reduction effects. The tool operates on a quarterly basis, providing one-year relending funds to financial institutions at below-market rates against qualifying green loans they extend, with total annual operation volume capped at CNY 800 billion (approximately USD 115 billion). PBOC sets each quarter's operation volume based on monetary-policy needs and financial institutions' actual lending to the newly-widened set of supported project categories.

On 26 December 2025, Japan's Cabinet approved a FY2025 (Reiwa 7) supplementary budget line -- the "Renewable Energy Expansion: Grid- Connected Storage Battery and Other Power Storage System Introduction Support Project" -- budgeted at JPY 8.0 billion (rising to JPY 61.6 billion including multi-year budgetary commitment authority, kokko-saimu futan koi). Global Trade Alert logs this as one of 23 METI programmes under the FY2026 budget cycle supporting Japan's "green transformation" of the industrial sector, effective with the start of fiscal year 2026 on 1 April 2026. The programme subsidises private- sector installation of grid-connected batteries, batteries co-located with renewable generation, demand-side batteries, and long-duration energy storage (LDES) systems, aiming to secure decarbonised balancing capacity as renewable penetration rises and to build resilience against energy-price volatility. METI's Agency for Natural Resources and Energy opened the call for the executing body (shikko dantai) that will run the subsidy's application, screening and disbursement process on 24 December 2025, with submissions due 22 January 2026.

Japan's Cabinet approved the FY2026 (Reiwa 8) national budget on 26 December 2025, funding METI/ANRE's "Hydropower Energy Introduction Promotion Project" (水力発電導入促進支援事業費補助金) -- one of the programmes Global Trade Alert logs under the FY2026 METI budget cycle, which it puts at a JPY 2.8 billion allocation. ANRE opened a public offer on 26 January 2026 (closed 16 February 2026) for the executing body that would administer indirect subsidies to private-sector and municipal operators for FY2026-27; the New Energy Foundation (一般財団 法人新エネルギー財団) was selected on 20 February 2026. The programme supports two tracks: subsidised replacement/upgrade of ageing existing hydropower facilities to raise output and efficiency, and feasibility studies to expand new entrants into small and mid-scale hydropower.

The European Investment Bank signed the first EUR 231 million tranche (EUR 16m + EUR 50m + EUR 165m) of a EUR 271 million green loan to Italy's Sunprime Holdings Srl on 22 December 2025, under the EIB-approved "Project Sophocles" solar-and-battery programme (project reference 20250247, approved 27 August 2025). The financing backs a EUR 487 million multi-year investment programme deploying roughly 280 MWp of small-scale solar PV across multiple Italian sites plus 80 MW and 270 MW of four-hour battery energy storage. A further EUR 40 million tranche signed in February 2026, and the programme was subsequently expanded to a EUR 507 million EIB/Natixis CIB co-financing package announced in March 2026. Global Trade Alert logs the December tranche as a "red" state-loan intervention on grounds that below-market EIB financing is a trade- and competition-distorting subsidy to a domestic renewable-energy developer.

The European Investment Bank signed a EUR 200 million multi-beneficiary intermediated loan (guarantee) with IKB Deutsche Industriebank AG on 15 December 2025, under the "IKB Loan for Midcaps MBIL" operation. The facility backs a total lending volume of roughly EUR 400 million to German mid-sized and large corporates, with a 30% Climate Action and Environmental Sustainability window earmarked for renewable energy (primarily solar PV and onshore wind) and energy-efficiency investments in industry. Per the EIB project record, the signed allocation splits EUR 48.6 million to energy, EUR 11.4 million to industry/construction, and EUR 140 million to general credit lines. Global Trade Alert separately logs the transaction as a "red"-flagged state-linked lending-support intervention.

NIB, the multilateral development bank owned by the eight Nordic and Baltic member states, signed a NOK 1 billion (EUR 86 million / USD 100 million) loan with Hafslund AS, Norway's second-largest renewable energy group and largest district-heating supplier. The loan is split into two NOK 500 million tranches with eight- and eleven-year tenors and finances three projects: reconstruction of the Braskereidfoss hydropower dam and plants on the Glomma River (destroyed by Storm Hans in 2023), construction of the 20 MW Skygard data centre at Økern, Oslo, and an upgrade of Aker Hospital's district-heating connection. NIB financing is provided at preferential development-bank rates relative to commercial project finance, functioning as a below-market state-backed subsidy to strategic domestic energy and digital infrastructure.

On 12 November 2025, during COP30 in Belém, the Inter-American Development Bank (IDB) and Brazil's national development bank BNDES signed a letter of intent to enable USD 1 billion (approximately R$5.3 billion) in financing for micro, small, and medium-sized enterprises (MSMEs) operating in four of Brazil's strategic biomes: Amazon, Cerrado, Caatinga, and Pantanal. The programme, named PRÓ-BIOMAS, channels an IDB loan to BNDES that will fund productive investments — machinery, equipment, vehicles, and digitalisation — through accredited financial institutions, with roughly 75% of resources earmarked for the Amazon biome and the remaining 25% split across Cerrado, Caatinga, and Pantanal. Implementation still requires BNDES to route a request through Brazil's External Financing Commission (Cofiex, part of the Ministry of Planning and Budget) to obtain federal-guaranteed IDB financing.

The Australian Renewable Energy Agency (ARENA) announced up to AUD 45 million in funding for Fortescue's Solar Innovation Hub, a 500 MW test bed within Fortescue's 1.5 GW solar PV development pipeline at the Cloudbreak Solar Farm in the Pilbara region of Western Australia. The funding uses a portfolio structure covering up to 10 individual demonstration projects under one agreement, including Built Robotics' automated pile-driving technology and 5B's rapid-deployment Maverick solar system, aimed at cutting installed solar costs and supporting ARENA's Ultra Low-Cost Solar goal of 30% module efficiency at 30 cents/watt installed cost by 2030. Global Trade Alert logged the grant as a trade-distorting subsidy to Fortescue's solar manufacturing and deployment activity.

The Asian Development Bank signed a USD 331 million financing package with ReNew Vyoman Power Private Limited, a subsidiary of Indian independent power producer ReNew, to fund an 837 MWp solar-wind hybrid plant paired with a 415 MWh battery energy storage system (BESS) in Andhra Pradesh. ADB describes it as the first round-the-clock (24/7) peak renewable energy project it has financed, with the BESS enabling 300 MW of guaranteed baseload/peak delivery. Global Trade Alert logs the deal as a "red" (certainly harmful) state-linked lending intervention on the standard grounds that below-market multilateral development-bank financing to a named commercial producer is a potential trade- and competition-distorting subsidy.

The European Investment Bank signed a EUR 100 million (SEK 1.1 billion) loan agreement with Holmen, a Swedish forest-industry group, to finance the expansion of the company's onshore wind generation capacity in northern Sweden's electricity price regions. The financing, signed 30 October 2025 and announced via EIB press release on 3 November 2025, supports the European Commission's RePowerEU initiative and is intended to strengthen energy-intensive industry supply and Europe's clean-power resilience. Global Trade Alert logged the loan as a state-loan intervention on 30 October 2025.

The Canada Infrastructure Bank provided a CAD 42 million (approx. USD 30.7 million) repayable loan to George Gordon Development Limited (GGDL), the economic-development arm of George Gordon First Nation, to fund the Wicehtowak Solar project — a 32.4 MW solar facility in the Rural Municipality of Dufferin, Saskatchewan. The loan enables GGFN to acquire full ownership of the project, which will supply Saskatchewan's grid under a 30-year virtual power purchase agreement with SaskPower and deliver power directly to the adjacent K+S Potash Canada mine. Natural Resources Canada separately provided a CAD 33 million grant under the Smart Renewables Electrification Pathways Program toward the same project.

NIB, the multilateral development bank owned by the eight Nordic and Baltic member states, signed a EUR 27.7 million (USD 32.2 million) 10-year loan with Baltic Storage Platform OÜ, a joint venture of Evecon, Corsica Sole and Mirova, to finance two 100 MW/200 MWh standalone battery energy storage systems (Hertz 1 at Kiisa and Hertz 2 at Aruküla, both near Tallinn) with a combined 200 MW/400 MWh capacity — among the largest battery-storage complexes in continental Europe. The loan is disbursed under the EU's InvestEU programme via NIB's Framework on Clean Energy Transition, part of a EUR 85.6 million total financing package alongside the EBRD and Edmond de Rothschild Asset Management. NIB financing at preferential development-bank rates functions as a below-market state-backed subsidy to strategic domestic grid-storage infrastructure supporting Baltic energy independence and renewables integration.

Japan Bank for International Cooperation (JBIC) signed loan agreements on 2025-10-27 providing project financing of up to USD 253 million for the ACWA Power Sazagan Solar1 project and up to USD 382 million for the ACWA Power Sazagan Solar2 project in Samarkand region, Uzbekistan — a combined USD 635 million, JBIC's first renewable-energy loans in the country. The two projects deliver 1,000 MW combined solar generation and 1,336 MWh of battery storage, with all output sold to JSC National Electric Grid of Uzbekistan under 25-year power purchase agreements. Three Japanese companies (Sumitomo Corporation, Chubu Electric Power, Shikoku Electric Power) hold equity stakes in the project vehicles alongside Saudi developer ACWA Power, and JBIC co-financed alongside ADB, EBRD, the Islamic Development Bank, SMBC, Norinchukin Bank, Standard Chartered and KfW IPEX-Bank.

On 21 October 2025, Mexico's state-owned foreign-trade development bank Bancomext and private bank Multiva formalised a MXN 2.13 billion (~USD 106 million) syndicated 15-year green loan to Energía Real, split in equal MXN 1.065 billion tranches, to finance roughly 500 distributed-generation projects combining on-site solar power and battery energy storage systems (BESS). The financing is intended to add at least 150 MW of installed capacity to Energía Real's existing ~200 MW portfolio — the largest such portfolio in Mexico. Bancomext's participation at development-bank terms functions as a state-backed subsidy to a private renewable-energy and storage operator, part of the broader global pattern of national development banks using preferential-rate lending to steer capital toward domestic clean-energy and grid-storage build-out.

China's Ministry of Finance, General Administration of Customs and State Taxation Administration jointly issued Announcement 2025 No. 10, restructuring VAT refund support across the power-generation sector effective 1 November 2025. Offshore wind power producers gain a new 50% immediate VAT refund running through 31 December 2027, while the prior immediate-refund policy for onshore wind power (in force since 2015 under Cai Shui [2015] No. 74) is repealed outright. Nuclear plants approved but not yet commercially operating as of 31 October 2025 receive a 50% collected-then-refunded VAT rebate for ten years from first commercial operation, but nuclear projects approved after 1 November 2025 receive no VAT refund at all. The measure reallocates state fiscal support within China's power sector toward offshore wind and legacy-pipeline nuclear capacity while withdrawing it from onshore wind and future nuclear approvals.

NIB, the multilateral development bank owned by the eight Nordic and Baltic member states, signed a EUR 28 million (USD 32.4 million), 16-year loan with Ltd. WPR2 to finance "Project Simpson," a 112 MW greenfield wind farm in Smiltene, northeastern Latvia, expected to generate approximately 283 GWh (P90) annually. The loan qualifies under the InvestEU Clean Energy Transition Framework and is co-financed alongside the EBRD and Luminor Bank. NIB financing at preferential development-bank rates functions as a below-market state-adjacent subsidy supporting Latvia's under-developed wind sector, which totaled only 136 MW of installed capacity at year-end 2024.

Queensland's Crisafulli Government announced an AUD 200 million North West Energy Fund on 10 October 2025 as part of its five-year Energy Roadmap and the wider CopperString transmission project (AUD 2.4bn budgeted, following identified savings of AUD 2.1bn against the prior government's cost blowout). The Fund is delivered by Queensland Investment Corporation (QIC) and finances local generation, storage, gas, wind and solar projects in the North West Minerals Province -- Mount Isa, Cloncurry, Julia Creek and Richmond -- ahead of CopperString's Western Link. Market sounding with more than 20 organisations began in March 2026, and the Fund formally opened to investor proposals on 1 June 2026, with a requirement that supported projects reach commercial operation or deliver benefits by 2030.

Spain's state development bank, Instituto de Crédito Oficial (ICO), committed up to EUR 47 million (USD 55 million) in equity across two green infrastructure funds: up to EUR 24.5 million to Kobus Energy Transition I, FCR (solar, battery storage and hydrogen, target size EUR 70 million) and up to EUR 22.5 million to Azora European Climate Solutions Fund, FCR (solar, geothermal, industrialised/sustainable construction, target size EUR 200 million). Both commitments carry a 50% EU InvestEU guarantee. The new tranches bring ICO's cumulative InvestEU-backed green-fund investment to EUR 250 million, with a stated potential to mobilise over EUR 500 million once private capital is included.

The European Investment Bank signed a EUR 400 million (USD 469 million) intermediated framework loan with Norddeutsche Landesbank (NordLB) on 30 September 2025, under the "NordLB Renewable Energy 2" operation. NordLB on-lends the EIB funds at long-term, below-market financing conditions to eligible renewable-energy projects — mainly photovoltaic, onshore wind and battery storage — located predominantly in Germany and other EU countries, with the intermediated structure designed to extend financing to smaller projects that would not otherwise access direct EIB funding. Global Trade Alert separately logs the transaction as a "red"-flagged state-loan intervention.

The Canada Infrastructure Bank reached financial close on a CAD 660 million (approx. USD 473 million) loan to Irving Pulp & Paper to support "Project NextGen," a CAD 1.5 billion modernization of the company's Kraft pulp mill in west Saint John, New Brunswick — the largest investment in the Canadian forest products industry since 1993. The financing replaces 1970s-era recovery-boiler and steam-turbine technology, adds up to 145 MW of renewable generation capacity (50 MW for mill use, the remainder exported to the provincial grid), and is projected to cut emissions per tonne of Kraft pulp by 50% while eliminating heavy-fuel-oil combustion.

The New Development Bank (NDB), the multilateral development bank founded by Brazil, Russia, India, China and South Africa, approved an RMB 1.4 billion (approximately USD 196.9 million / BRL 1.07 billion) non-sovereign loan to China Three Gorges Brasil Energia S.A. (CTG Brasil) to finance construction of the Serra da Palmeira wind power project, a 648 MW facility with 108 turbines across the State of Paraíba, northeastern Brazil. The project, whose total cost is approximately BRL 4.33 billion, uses turbines supplied by China's Goldwind Science & Technology. NDB development-bank financing at preferential rates functions as a below-market subsidy to CTG Brasil's Brazilian renewable-generation buildout.

On 1 September 2025, BNDESPAR (the equity-investment arm of Brazil's national development bank BNDES) launched the "Chamada de Clima" public call, committing up to BRL 5 billion (~USD 0.9bn) to select investment funds targeting ecological transformation and nature-based solutions. Up to BRL 4 billion is earmarked for up to five equity funds (FIPs) — three for ecological transformation (up to BRL 1bn each) and two for nature-based solutions (up to BRL 500m each) — with BNDESPAR capped at 25% of committed capital per fund. Up to BRL 1 billion is earmarked for up to two credit funds (FIDC/FIAGRO), with BNDESPAR capped at 50% per fund. BNDES's contribution is designed to catalyse roughly BRL 13 billion in private capital, for a total mobilised volume of ~BRL 18 billion. Proposals were due 20 October 2025; seven funds were ultimately selected (three ecological- transformation equity funds, two nature-based-solutions equity funds, two credit funds) advancing to due diligence.

KfW IPEX-Bank, the project- and export-finance arm of Germany's state-owned development bank KfW, announced on 17 July 2025 that it is acting as sole lender for a EUR 69 million financing package for two onshore wind farms (126 MW combined) developed by Turkish independent power producer Eksim Enerji in the Karaman and Yozgat regions, under Türkiye's YEKA-3 renewable-energy auction. The 18 wind turbines are supplied and installed by German manufacturer Nordex, and the loan is covered by the German government via export credit agency Euler Hermes. Global Trade Alert separately logs the transaction as an "amber"-flagged local-value-added-incentive intervention (state act 92701 / intervention 147849).

The New Development Bank (NDB) Board of Directors approved a RMB 1.448 billion (~CNY 1.45 billion, ~USD 200 million) sovereign loan to the People's Republic of China on 14 July 2025 to finance the Shanxi Taiyuan Wusu Zero-Carbon Airport Project. The project will convert Taiyuan Wusu International Airport into China's first zero-carbon airport via over 100 MW of installed solar capacity, a pilot PV-Energy Storage-Direct Current-Flexible Loads (PEDF) system, and 100% renewable-based heating and cooling — a first among China's regional hub-scale airports. Shanxi Aviation Industry New Energy Company (SAINE), a joint venture of Shanxi Aviation Industry Group (SAIG) and two government-owned geological-engineering and industrial-construction enterprises, will implement the project between 2025 and 2029. NDB below-market development-bank pricing functions as an indirect state-adjacent subsidy for the build-out.

UK Export Finance (UKEF) issued a EUR 146 million (USD ~170m) Buyer Credit Guarantee to support Orsted's Greater Changhua 2 offshore wind farm off Taiwan (632 MW capacity), co-financed alongside export credit agencies from Denmark, Norway, South Korea and Taiwan and a 25-bank commercial syndicate led by Credit Agricole CIB. The guarantee is conditioned on the project procuring specialised services and components from named UK exporters (Cadeler, CRP Subsea, Ordtek, Cathie), making it a local-value-added-linked export-credit instrument rather than untied project finance.

On 23 June 2025, BNDES president Aloizio Mercadante announced that BNDESPAR — the equity-investment arm of Brazil's national development bank — would resume direct variable-income (equity) investing after roughly a decade, committing up to BRL 10 billion (~USD 1.8bn) to companies and funds focused on ecological transition, decarbonization and innovation. The commitment splits into up to BRL 5 billion in direct equity investments (open to applicants through December 2025) and up to BRL 5 billion deployed via investment funds, funded from proceeds of BNDESPAR's sale of mature-company stakes and dividend receipts rather than new fiscal outlay. The bank framed the relaunch as strengthening Brazil's capital markets while directing state capital toward green-economy and innovation targets of all company sizes.

On 12 June 2025, the African Development Bank Group's Board of Directors approved a USD 184.1 million financing package for the Obelisk Solar Project in Qena Governorate, southern Egypt — billed as Africa's largest solar-plus-storage project, combining a 1-gigawatt solar photovoltaic installation with a 200 MWh battery energy storage system. The AfDB package is composed of USD 125.5 million from ordinary resources, USD 20 million from the Sustainable Energy Fund for Africa (SEFA), USD 18.6 million from the Canada-AfDB Climate Fund, and USD 20 million from the Climate Investment Funds' Clean Technology Fund. The Egyptian Electricity Transmission Company will off-take the power under a 25-year agreement. Total project cost exceeds USD 590 million, with commercial operation targeted for Q3 2026.

The Canada Infrastructure Bank committed CAD 108.3 million (approx. USD 78.9 million) to the 102.2-megawatt Mesgi'g Ugju's'n 2 (MU2) wind farm in the Gespe'gewa'gi (Gaspesie-Iles-de-la-Madeleine) region of Quebec. The financing comprises a CAD 15.8 million equity loan to the Mi'gmawei Mawiomi Business Corporation (MMBC) — CIB's first Indigenous equity loan in Quebec — and a CAD 92.5 million construction loan for the project as a whole. MU2 is a partnership between MMBC, representing the Gesgapegiag, Gespeg and Listuguj Mi'gmaq communities, and Innergex Renewable Energy Inc., with a 30-year power purchase agreement with Hydro-Quebec.

The Canada Infrastructure Bank closed a CAD 97 million (approx. USD 70.7 million) loan to finance the 84-megawatt Wedgeport Wind project in the Municipal District of Argyle, Nova Scotia. The project is a partnership between Elemental Energy, Stevens Wind and Sipekne'katik First Nation (SFN), and comprises 12 Nordex seven-megawatt turbines built under Nova Scotia's Rate Based Procurement process. It is CIB's second partnership with Elemental Energy and SFN following an earlier Nova Scotia wind deal.

UK Export Finance (UKEF) approved export credit support with a maximum liability of approximately GBP 245 million (USD ~333m) for Cathay Wind Power Co Ltd, borrower for the Greater Changhua 4 (Northwest) offshore wind farm off Taiwan's western coast (42 x 14MW turbines, 583MW grid capacity; project company Greater Changhua Offshore Wind Farm NW Ltd, jointly owned by Orsted Wind Power TW Holdings A/S and Cathay Wind Power Co Ltd). The support covers construction services and equipment, with UK content supplied by Seajacks (installation vessel charter) and CRP Subsea (cabling), making it a local-value-added-linked export-credit instrument rather than untied project finance.

On 28 May 2025, Brazilian President Lula launched "Chamada Nordeste" in Salgueiro (Pernambuco) — a BRL 10 billion (~USD 1.8bn) public call for structuring investment projects in the nine Northeast states, run jointly by BNDES, Banco do Brasil, Caixa Econômica Federal, Banco do Nordeste (BNB) and Finep, with technical support from Sudene and the Northeast Consortium. It is the largest project call ever run for the region and sits under the federal Nova Indústria Brasil (NIB) industrial-policy umbrella. Eligible business plans (minimum BRL 10 million) cover storage/renewable energy, bioeconomy with a pharmaceuticals focus, green hydrogen, green data centers and the automotive/agricultural-machinery sector, financed via a combination of credit lines, non-reimbursable economic subsidies and equity participation; the proposal deadline was 15 September 2025. Demand vastly exceeded supply: the call drew 245 proposals totalling roughly BRL 127.8 billion — nearly 13 times the initial BRL 10bn envelope — before BNDES approved 189 projects worth BRL 113 billion in follow-on selection rounds.

The Asian Development Bank signed a USD 55 million (CNY-equivalent) loan with Huaneng Tiancheng Financial Leasing Co Ltd (HTFL), a PRC financial leasing subsidiary of the Huaneng Group specializing in renewable-energy asset finance, to expand leasing capacity for distributed wind energy (DWE) developers across China. Global Trade Alert logs the transaction as a "red" (certainly harmful) state-linked lending-support intervention on the standard grounds that below-market multilateral development-bank financing to a named PRC commercial lessor is a potential trade- and competition-distorting subsidy. ADB frames the loan around China's "dual carbon" goals (peak emissions before 2030, carbon neutrality by 2060), targeting the financing gap private DWE developers face in securing long-term capital for smaller, localized wind projects closer to demand centers rather than large grid-scale wind farms.

On 22 May 2025, Mexico published a decree in the Diario Oficial de la Federación (DOF) granting fiscal incentives to companies that begin operations within newly designated "Polos de Desarrollo Económico para el Bienestar" (PODECOBI) — Economic Development Poles for Welfare. The decree grants a 100% immediate deduction of the original investment amount in new fixed assets, plus an additional 25% deduction for incremental training and innovation expenses, for taxpayers operating in the poles through fiscal year 2030. The Ministry of Economy designates and administers the poles, with a cross-secretarial promotion committee overseeing site selection; 14 zones spanning Campeche, Chihuahua, Durango, Estado de México, Guanajuato, Hidalgo, Michoacán, Puebla, Quintana Roo, Sinaloa, Sonora, Tamaulipas, Tlaxcala and Veracruz are active as of mid-2025. The measure operationalises the "Plan México" nearshoring strategy by concentrating incentives in specific geographic zones rather than applying them nationwide.

The Australian Renewable Energy Agency (ARENA) awarded up to AUD 46 million to Australian solar technology company 5B under Round 1A of the Solar Sunshot Program, the first funding decision under the AUD 1 billion program. The award comprises up to AUD 26 million in production credits tied to Australian-based manufacturing of 5B's "Maverick" prefabricated, prewired solar deployment system, plus a AUD 20 million capital grant for technology design improvements. The funding is intended to expand 5B's Adelaide manufacturing capacity to at least 200 MW of Maverick units per year over three years and is expected to cut the company's Australian production costs by 25%.

NIB, the multilateral development bank owned by the eight Nordic and Baltic member states, signed a EUR 30 million, 15-year loan with Norwegian utility Sogn og Fjordane Energi AS (SFE) to finance the rebuild of the Øksenelvane hydropower plant in Western Norway. The new station, built alongside the existing 70-year-old facility to keep generation running through construction, will add roughly 21 GWh/y of output and nearly quadruple capacity, with completion expected in 2028. NIB's below-market development-bank funding cost functions as a state-adjacent subsidy for Norwegian renewable-energy infrastructure.

Brazil's national development bank BNDES contracted BRL 156 million (approx. USD 27m) in concessional financing for GreenYellow to install 16 distributed-generation solar plants (43.8 MW combined capacity) across 13 municipalities in nine Brazilian states. The loan blends BRL 126m from BNDES's Finem industrial-credit line with BRL 30m from Fundo Clima (Brazil's climate fund), carries a 20-year term, and is administered as a local-content-linked industrial-finance incentive under Global Trade Alert's state-act tracking. Announced 12 May 2025; the financed plants entered operation in H2 2025.

NIB, the multilateral development bank owned by the eight Nordic and Baltic member states, signed a five-year NOK 250 million (EUR 26 million) onlending facility with SpareBank 1 Helgeland, a regional savings bank in Helgeland County, northern Norway. The facility is part of NIB's Arctic Facility and finances onward lending to SMEs and smaller mid-cap companies across agriculture, aquaculture, real estate, and construction, as well as environmental projects in the region. It is the third loan agreement between NIB and the bank, following an earlier SME-only facility and a renewable-energy loan. NIB financing is priced at preferential development-bank rates relative to commercial project finance, functioning as a below-market state-backed subsidy channelled to regional SME lending.

Spain's Ministry of Industry and Tourism (MINCOTUR) provisionally approved EUR 90 million in grants across five industrial-decarbonisation projects under Line 4 of the PERTE Descarbonización (Spain's Recovery-and-Resilience-Plan-funded strategic decarbonisation programme). The largest award, EUR 60 million, went to Hydnum Puertollano (Ciudad Real) for a green-steel mill; other recipients were Biotérmica Villanueva (EUR 12m for a biomass plant converting orange waste to energy in Huelva, plus EUR 4.6m for an olive-pomace renewable-energy plant in Lebrija, Sevilla), Alier (EUR 9.6m, sustainable recycled-paper production in Zaragoza), and Cimsa Cementos España (EUR 3.7m, emissions reduction in Buñol, Valencia cement manufacturing). The announcement, made by Industry Minister Jordi Hereu on 23 April 2025, brought total PERTE Descarbonización disbursement to approximately EUR 570 million across 93 projects nationwide.

NRW.BANK, the state-owned promotional bank of North Rhine-Westphalia, and the NRW Ministry of Economic Affairs launched "Invest Zukunft" ("Invest in the Future"), a state loan scheme open to all companies operating in North Rhine-Westphalia regardless of size, with applications opening 19 May 2025. The scheme finances investment in digitalisation of business processes, electromobility and low-emission technologies, circular-economy and sustainable production, renewable-energy transition, and AI applications, via loans of up to EUR 10 million per project at interest rates up to 2 percentage points below market and redemption discounts of 5-20% for SMEs depending on investment and company size. The measure was notified to the European Commission and logged by Global Trade Alert as a state loan intervention effective 26 May 2025.

On 21 January 2025, Mexico published the Decree granting tax incentives in support of the national strategy known as "Plan Mexico" in the Diario Oficial de la Federación (DOF). The decree provides MXN 30 billion (~USD 1.5 billion) in fiscal incentives through 2030 to attract nearshoring investment, with MXN 28.5 billion allocated to immediate deductions on new fixed asset investments and MXN 1.5 billion for workforce training and innovation. Deduction rates range from 35% to 91% depending on asset type and sector, with the automotive, aerospace, and semiconductor industries expected to benefit most. The measure aims to capitalize on US-China decoupling by positioning Mexico as an alternative manufacturing base for supply chains serving the North American market.