2024-11-22
http://w3.windfair.net/wind-energy/news/29573-wodl-bank-developing-countries-storage-clean-energy-battery-program-help-wind-solar-renewable-energy

World Bank Commits $1 Billion for Battery Storage in Developing Countries

“Batteries are critical to decarbonizing the world’s power systems."

Official Press Release World Bank:

World Bank Group Commits $1 Billion for Battery Storage to Ramp Up Renewable Energy Globally

New program will mobilize another $4 billion; “game changer” for developing countries

In a major announcement at the One Planet Summit here, the World Bank Group committed $1 billion for a new global program to accelerate investments in battery storage for energy systems in developing and middle-income countries. The program is expected to help these countries ramp up their use of renewables – particularly wind and solar power – improve energy security, increase grid stability and expand access to electricity.  The $1 billion in World Bank Group financing is expected to mobilize another $4 billion in concessional climate financing and public and private investments. The program aims to finance 17.5 gigawatt hours (GWh) of battery storage by 2025... ... More: Official Press Release World Bank

Keywords:
Wodl bank, developing countries, storage, clean energy, battery, program, help, wind, solar, renewable energy







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