World Bank

The World Bank has advised the Pakistani government to make an immediate start on solar and wind auctions based on big, dual technology clean power parks, plus smaller tenders likely to be dominated by PV.

The Zina solar field, which is being developed by Amea Power, is being financed by the World Bank’s private sector arm and will be constructed in Mouhoun province.

International Finance Corp. has underwritten potential credit losses on part of a $730 million loan book held by the Polish operations of Santander, freeing up finance to be issued for more green projects, including renewables.

Lack of locally-denominated finance, and of sufficiently long-term loans, are well established hurdles to the development of photovoltaics in Africa.

The international development entity has already invested $1 billion in local, off-grid electricity networks over the last decade – and attracted a further $1.1 billion in matched funding – and has predicted mini-grids could supply electricity to 490 million people by 2030.

An initial intent to commission 28 local solar-plus-storage networks has now been stated as comprising “around 20” mini-grids, with delivery expected this year, rather than by the middle of the year.

The London-based development institution will offer up a loan and grant to fund the construction of five solar plants at municipal sites across Gaziantep, as part of the lender’s Green City program.

Investment is required so electricity distribution networks can be upgraded to keep pace with an explosion in generation capacity over the last decade, and to harness the potential of renewables and energy storage.

Anglo-Norwegian public funding body Globeleq has said the 19 MWp/2MW-7 MWh Cuamba project will be supplying electricity during the second half of next year.

Two projects in the northern region of the African nation are set to bring 36 MW of solar and 20 MW/19 MWh of storage online, with the first facilities due to start generating within days.