world bank

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.

World Bank Group member Multilateral Investment Guarantee Agency (MIGA) is to provide US$102.6 million in financing for six PV projects in Egypt.

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.

Robert Mugabe’s “resignation” after 37 years in power creates political uncertainty and possibility for Zimbabwe’s solar market.

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.

State Bank of India (SBI) is to lend INR23.17 billion (US$357 million) to seven companies for 575MW of grid-connected rooftop solar projects under a World Bank programme.

The International Finance Corporation (IFC) has finalised a US$653 million debt package for 13 solar projects at the Benban Solar Park, near Aswan in Egypt.

The bank noted that more than five million people could be reached through solar PV.

Fiji has become the first emerging market to issue a green bond, according to the World Bank.