World Bank to devote $1 billion to storage in developing countries
The Accelerating Battery Storage for Development program is intended to leverage US$4 billion in new investments, and to support projects for utility-scale solar parks with battery storage, off-grid systems, including mini-grids, and stand-alone batteries.
World Bank to help Afghanistan tender 40 MW solar project
The International Financial Corporation will help the country’s government competitively tender the project, which is expected to be developed through a public-private partnership.
International investors provide $34 million for solar plant in Zambia
The Ngonye project proposed by Italian energy giant Enel Group and Zambia’s Industrial Development Corporation, will be financially underpinned by senior loans of up to $10 million from the International Finance Corporation, up to $12 million from IFC-Canada Climate Change Program and up to $11.75 million from the European Investment Bank.
Enerray and Suntech ink contract for supply of 116 MW of modules for Benban
Italian developer Enerray is progressing three PV plants in Egypt’s Benban complex. The modules will be supplied by the Chinese manufacturer
Silver prices to fall by $4/toz by 2030, World Bank says
A recently published report on commodity markets published by the World Bank indicates that the recent decline in commodity prices for silver is likely to continue over the next 10-20 years. The looming trade dispute between the U.S. and China is impeding investor trust, as future outlook remains murky.
World Bank Group offers $18 million guarantee to PV projects in Namibia
World Bank Group has announced that, through its subsidiary Multilateral Investment Guarantee Agency (MIGA), it will provide up to US$18 million in support of two 5 MW PV power plants to be constructed in Namibia.
World Bank approves another $250 million guarantee to support renewables in Argentina
This new transaction is intended to support projects selected in Round 3 of Argentina’s renewable energy program for large-scale projects. The funds are expected to leverage private investments for an amount that should be nine times higher than the value of the guarantee.
Gaza solar project receives $12 million in international backing
US$12 million in private finance has been earmarked for a 7 MW solar PV rooftop system in Gaza, Palestine. Up to 800 jobs are expected to be created.
India’s Sterling and Wilson to build 54.3 MW solar plant in Zambia
The PV plant will be the nation’s largest once complete, and will be implemented under the International Finance Corporation’s Scaling Solar program.
Waiting for the World Bank’s Scaling Solar and Storage program
Expectation is rising that the World Bank’s Scaling Solar program will soon expand to include energy storage. A presentation by global law firm, Eversheds Sutherland this week in London added further weight to this.
