world bank

Solar PV Project_171

India’s Solar Objectives Get Major Boost with 750MW Rewa Ultra Mega Solar Park

India’s State Government of Madhya Pradesh has signed agreements making Rewa Ultra Mega Solar Park a reality and helping India get closer to its 100 GW solar energy goal by 2022. IFC, a member of the World Bank Group, is the lead transaction advisor for the project that will mobilise $550 million in private investment and avoid a million tonnes of GHG emissions. The 750 MW capacity project was auctioned in three packages of 250 MW each and will be one of the biggest single site solar projects in the world.

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Clean Energy_Benelux_181

World Bank Approves $480m Guarantee As Argentina Drives Towards Clean Energy

The World Bank has approved a $480 million guarantee to stimulate investment in clean energy in Argentina. The Bank guarantee will support the Fund for the Development of Renewable Energy (FODER), which facilitates financing of projects under the RenovAr program of the country’s Ministry of Energy and Mining. This initiative seeks to stimulate power generation from wind, solar, biomass, biogas and small-scale hydro sources to achieve the country’s 20 percent renewable energy target by 2025.

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Africa_Off-Grid Solar

US Boosts Solar Power Projects In Africa, Highlighting Huge Potential

A number of African nations are to receive a new loan to enhance solar power projects awarded by the Overseas Private Investment Corporation (OPIC). The loan is one of the latest financial investments by the US in support of Africa-based development initiatives, aimed at supporting regional entrepreneurs and improving power infrastructure. According to Adnan Amin, the director-general of the International Renewable Energy Agency, there is a “huge appetite for investment in renewable energy projects in Africa”, however, African governments still need to ensure reduced risks by implementing regulatory frameworks and incentive schemes.

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