The World Bank and the Government of the Republic of the Marshall Islands launched two climate change related projects that will boost investment in renewable energy and spur energy efficiency.
The World Bank has signed a US$55 million financing agreement with the government of Bangladesh to expand renewable energy applications in rural areas.
Armenia’s Ministry of Energy Infrastructure and Natural Resources has issued a letter of award (LoA) to a consortium of Fotowatio Renewable Venture (FRV) and FSL Solar to help bring a 55MW solar project closer to reality.
The World Bank will provide a US$50 million grant for off-grid solar systems in Yemen to improve access to electricity and vital basic services in rural and outlying urban areas.
Indian Renewable Energy Development Agency Limited (IREDA) has signed an agreement with Rewa Ultra Mega Solar Limited (RUMSL) to finance two major solar parks in the state of Madhya Pradesh with a first loan of INR2.1 billion (US$33 million).
The World Bank plans to make energy storage an integral part of its ‘Scaling Solar’ program, that until now has been focused purely on facilitating large-scale solar tendering, predominantly in Africa.
The government of Sindh in Pakistan plans to launch an auction for the development of 50MW of solar PV in the Province, with support from the World Bank.
India’s government has signed a $98 million loan agreement and US$2 million grant agreement with the World Bank to facilitate India’s 2022 renewable energy target through solar parks.
