World Bank to electrify SSA with $2.7 B worth distributed renewable energy
The World Bank Group announces a major initiative to electrify sub-Saharan Africa (SSA) with distributed renewable energy.
Image source: ESI Africa
The World Bank Group announces a major initiative to electrify sub-Saharan Africa (SSA) with distributed renewable energy.
The initiative will use solar off-grid, minigrids and other means to promote universal access to electricity, resulting in an accelerated pace to electrify Africa and achieve universal access by 2030.
The World Bank, the Multilateral Investment Guarantee Agency (MIGA), the International Finance Corporation (IFC), and other development agencies will promote private investment in distributed renewable energy (DRE) systems to electrify targeted areas quickly and efficiently.
The Distributed Access through Renewable Energy Scale-Up Platform (DARES) calls for joint action by governments, private investors, and development agencies to solve Africa’s immediate needs while developing DRE solutions that can be applied globally.
“Investing in distributed renewable energy is one of the most efficient ways to tackle energy access challenges and to support economic activities in Africa while addressing greenhouse gas emissions,” said Emmanuel Nyirinkindi, IFC Vice President of Cross-Cutting Solutions. “Mini-grid systems are one example of DRE and can efficiently deliver energy to cities and rural areas outside the limits of a national grid.”
The World Bank has an active portfolio of $2.7 B for DRE access, targeting electrification of about 40 million people. IFC has initiated the Scaling Mini Grids Programme and is building on its Lighting Africa Engagement.
The impact of this initiative goes beyond electrifying Africa. Electricity is the foundational enabler to address other critical initiatives such as food insecurity, gender equality, climate resilience, and health. Electrification will open more options to solve these issues.
Source: ESI Africa
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