Monday, July 22, 2024

World Bank Grants $35 Million To Enhance Solar Energy In Guinea-Bissau

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Representational picture. Credit: Canva

In a big step in the direction of bettering power entry and sustainability, the Board of Executive Directors of the World Bank has permitted a $35 million grant aimed toward strengthening solar energy technology in Guinea-Bissau.

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The Guinea-Bissau Solar Energy Scale-up and Access Project goals to develop the photo voltaic power infrastructure, together with the development of utility-scale photo voltaic parks and the upgrading of the prevailing photo voltaic grid system. This initiative additionally contains capability constructing and technical help to the Ministry of Energy and Electricity and Water in Guinea-Bissau (EAGB).

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Anne-Lucie Lefebvre, World Bank Resident Representative in Guinea-Bissau, emphasised the significance of the undertaking in selling inclusive progress by way of improved infrastructure and providers. Currently, solely 33% of Guinea-Bissau’s inhabitants has entry to electrical energy, with greater prices within the capital metropolis of Bissau. The use of plentiful photo voltaic assets in Guinea-Bissau presents an environment friendly and cost-effective answer to fixing the nation’s power deficit.

The Solar Energy Scale-up and Access Project is ready to learn residential, industrial, and industrial shoppers all through the nation, together with these within the islands. This is according to the federal government’s technique to facilitate the participation of the personal sector, stimulate financial progress, and create sustainable employment alternatives.

Funded by the International Development Association (IDA), Green Climate Fund (GCF), and Energy Sector Management Assistance Program (ESMAP), the undertaking is scheduled to run till June 2030. Its implementation marks an vital step in the direction of transformation in Guinea-Bissau’s power panorama, paving the way in which for a extra sustainable and electrified future.



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