“This project supports Pakistan’s goal to become a low-carbon, renewable energy-reliant economy by 2030 and contributes to its national target in reducing greenhouse gas emissions to combat climate change,” said Najy Benhassine, World Bank Country Director for Pakistan. Today, the World Bank’s Board of Executive Directors approved $450 million in financing to support Pakistan’s transition […]
World Bank approves $750 mln loan for Nigeria’s power sector
The loan will cut tariff shortfalls, protect the poor from price adjustments, and increase power supplied to the grid, the World Bank said in a statement late on Tuesday ABUJA: The World Bank has approved a $750 million loan for Nigeria’s power sector, the first release of funds after years of stalled talks over long-term […]
Covid-19 intensifies need to expand sustainable energy solutions
This includes a notable reduction in the number of people worldwide lacking access to electricity, strong uptake of renewable energy for electricity generation, and improvements in energy efficiency New Delhi: Despite accelerated progress over the past decade, the world will fall short of ensuring universal access to affordable, reliable, sustainable and modern energy by 2030 […]
Lithium, cobalt production to soar as demand for clean energy increases: World Bank
It estimates that over three billion tonnes of minerals and metals will be needed to deploy wind, solar and geothermal power as well as energy storage required for achieving a below two degrees celsius future Washington DC : A new World Bank Group report shows that production of minerals like graphite, lithium and cobalt could […]
Mineral Production to Soar as Demand for Clean Energy Increases
The more ambitious climate targets, the more minerals needed for a clean energy transition WASHINGTON: A new World Bank Group report finds that the production of minerals, such as graphite, lithium and cobalt, could increase by nearly 500% by 2050, to meet the growing demand for clean energy technologies. It estimates that over 3 billion tons of minerals […]
World Bank debars Chinese electrical equipment firm over fraud on Zambia project
The debarment is part of a settlement under which the company acknowledged responsibility for failing to disclose a conflict of interest and other “sanctionable practices,” and agreed to carry out remedial actions, the bank said in a statement WASHINGTON: The World Bank on Wednesday said China-based Liaoning-EFACEC Electrical Equipment Company Limited (LEEEC) would be ineligible […]
SECI to enter commercial business; mulling 5,000 MW solar-wind-storage hybrid capacity in 10 yrs
SECI’s MD said the total equity of the company stands at more than Rs 600 crore, which would be used for equity investment in the projects New Delhi: The Solar Energy Corporation of India (SECI), a central public sector undertaking (CPSU) under the ministry of new and renewable energy, is planning to enter into commercial […]
World Bank aids Vietnam’s transition to a solar auction program
The Global Infrastructure Facility’s (GIF) Governing Council has approved $1.5m in funding to support the World Bank’s work with the government of Vietnam on a Solar Pilot Auction Program. The GIF, working with the World Bank’s Energy Global Practice, will help the government to design and structure the Auction Program to transition from a feed-in […]
Nigeria: First Solar Mini-Grid Commissioned In Rokota Community
The Federal government of Nigeria, through its implementing agency – Rural Electrification Agency (REA), has facilitated the commissioning of a solar hybrid mini-grid power plant in Rokota Community, Edati local government area, Niger State. The project is the first to be commissioned under the World Bank-supported Nigeria Electrification Project (NEP). It will provide clean, […]
Côte d’Ivoire Joins The World Bank’s Scaling Solar Programme
The World Bank Group, through its Scaling Solar programme, and the government of Côte d’Ivoire have signed an agreement to help the West African country develop its supply of affordable, reliable clean energy. Côte d’Ivoire has plans to reach at least 42% of its power from renewable sources by 2030. IFC, a member of the […]