world bank

The World Bank Group today signed an agreement with the International Solar Alliance (ISA), which was formed at the COP21 Paris summit last year, and is comprised of 121 countries led by India, to partner on scaling up solar energy use globally, with the goal of mobilising US$1 trillion in investments by 2030.

Private infrastructure investment in solar energy during 2015 grew to US$9.4 billion, 72% higher than the average of the previous five years, according to new World Bank figures.

The World Bank will finance various energy, water and infrastructure projects in northern Kenya under its US$1.1 billion North-eastern Kenya Development Initiative, according to reports.

The World Bank Group unveiled an ambitious new plan to aid developing countries fulfil their COP21 pledges by adding 30GW of renewable energy – doubling its current contributions to global energy capacity.

One in three off-grid households worldwide will use solar products by 2020, according to a new report from the World Bank and Bloomberg New Energy Finance (BNEF).

The government of Senegal plans to develop 200MW of solar power as part of the World Bank Group’s initiative ‘Scaling Solar’, which aims to assist African countries in procuring renewable energy quickly and affordably power through private investment.