world bank

The World Bank will invest in a huge 4GW, 5.12GWh solar-plus-storage complex in Malaysia, which will form part of a pan-Southeast Asian power grid initiative.

The World Bank has approved a loan of around US$600 million to support the development of 540MW of new solar and wind capacity in Indonesia.

Off-grid solar is helping provide power to those most in need, but new ideas are needed to plug the sector’s multi-billion funding gap.

Investment in off-grid solar will be essential to provide electricity to 398 million people who are expected to be in energy poverty by 2030.

Engie said the loan would support its plan to phase out coal from its portfolio by 2025 in continental Europe and 2027 worldwide.

The World Bank has committed US$1.5 billion to support India’s renewable energy transition, including new renewable power generation capacity.

The World Bank and Masdar have announced a US$159 million financing package to support a 250MW solar-plus-storage project in Uzbekistan.

Iberdrola says that of the agreed amount €170 million has already been committed to finance onshore wind projects in Poland.

UAE-based renewables developer AMEA Power has reached financial close on a 120MW solar PV project in Tunisia, the company’s first foray into the country.

Activities under the new Regional Emergency Solar Power Intervention Project, a US$311 million regional project for which the World Bank supports, have started in Freetown, Sierra Leone.