The World Bank and other financial institutions will provide a US$159 million package for a 250MW solar PV, 63MW battery energy storage system (BESS) project from UAE state-owned renewable energy developer Masdar in Uzbekistan.
Kenya Electricity Generating Company (KenGen) has been selected to carry out a battery storage pilot project, through a programme to increase electricity access funded by the World Bank.
South Africa could play a big role in the global battery value chain with the potential for 10-15GWh of domestic demand for battery energy storage by 2030, according to a report from the World Bank.
The World Bank’s International Finance Corporation is taking part in a study to assess how technologies like solar-plus-storage hybrids can provide baseload power in the Philippines.
Climate-smart principles must steer the global search for the minerals and metals required by the green energy boom to make sure the process remains sustainable, according to the World Bank.
After approving investment for the acceleration of energy storage deployment in developing countries to the tune of US$1 billion a few months ago, the World Bank has now approved a US$300 million loan to do the same in China.
World Bank Group has set up a “global international partnership” to support the deployment of energy storage in developing countries, just a few months after committing a US$1 billion sum to the sector.
Over the next five years, a US$50 million pot will be invested to promote a sustainable supply chain for lithium, graphite and the other minerals and metals
