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The UK has announced a contribution of £ 200 million (US $ 250 million) to the Global Climate Investment Fund campaign.
Energy Storage Program, which, in collaboration with the World Bank, is
The storage partnership aims to provide a revolutionary and renewable energy storage
energy solutions on the scale.
French Development Agency of France
(AFD) and the Netherlands announced a $ 100 million contribution to the solar risk mitigation program.
Netherlands Initiative (SRMI), with the Netherlands also announcing $ 20 million for
Clean kitchen fund planned.
The United Kingdom's contribution supports the World
The Bank Group's goal of mobilizing $ 1 billion in concessional climate funds for
global program on energy storage, in parallel with its own commitment of a billion dollars,
announced at the One Planet Summit in September 2018.
The program is expected to help middle-income developing countries to make greater use of renewable energy, particularly wind and solar energy, to improve energy security, increase grid stability and expand access to electricity.
It also aims to finance 17.5 GWh of battery
storage by 2025 – more than triple the 4-5 GWh currently installed in all
Developing country.
"Energy storage is essential to maximize the use of renewable energy sources such as solar and wind energy. The transition to renewable energy and clean cooking is at the heart of development and two of our top priorities, "said Riccardo Puliti, World Bank Global Director for the Energy and Energy Industries. Extraction and Regional Director of Infrastructure, Africa.
Read more stories on
Energy Storage
Climate change
Solar risk mitigation initiative
The promises of
France and the Netherlands, as part of SRMI, will provide support to countries
in sub-Saharan Africa, which have some of the biggest gaps in the world in
access to electricity, as they develop their off-grid and grid-connected solar systems.
energy programs.
Upendra
Tripathy, General Manager of the International Solar Alliance (ISA), said: "I am extremely proud and honored that the
Mitigation Initiative demonstrates its first concrete results. It's a
fundamental and comprehensive mechanism that will greatly support the ISA
members in the development of solar energy.
"I think this is the kind of partnership that will enable us to achieve the objectives of the Paris Agreements and SDGs 7 and 13".
The Dutch government has committed $ 44 million to the regional off-grid electrification project in the Sahel, in addition to the $ 224.7 million from IDA and the Clean Technology Fund of the World Bank. 39, investment for climate, announced in April 2019.
The project aims to
increase access to electricity for households, businesses and public institutions
using modern and autonomous solar systems. About 1.7 million people in sub-Saharan Africa
Africa should gain access to electricity or better service through the
effort.
50 million euros in France
($ 55 million) will provide private investors with collateral for smaller solar installations.
projects in sub-Saharan Africa through the Africa Trade Insurance Agency.
This will help fill
gap for small projects and help countries deploy privately financed solar technologies
projects quickly and efficiently.
SRMI was launched
COP24 of the World Bank in partnership with AFD, ISA and International
Renewable Energy Agency.
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