World Bank’s $615 Million For Solar Power

World Bank’s Financing Agreement For Clean Energy Based Rural Electrification In Bangladesh & Yemen

World Bank’s $615 Million For Solar Power

Local agencies in Bangladesh and Yemen will be able to facilitate clean and affordable electricity access for their rural and peri-urban regions with World Bank financing. Pictured is a solar system in Bangladesh. (Photo Credit: World Bank)

  • BREB to use $515 million financing from the World Bank to support rural electrification in Bangladesh
  • It will enable the agency to provide solar metering connections for over 100 customers and also support BESS and distributed renewable energy initiatives
  • The World Bank has also approved an additional $100 million for phase II of the Yemen Emergency Electricity Access Project
  • Yemen will be able to enable solar electricity access for local businesses, local health centers and schools

The World Bank has approved $515 million in financing to support 150 MW new rooftop solar capacity come onto the grid in Bangladesh through solar metering connections for over 100 customers. This is aimed at enabling Bangladesh Rural Electrification Board’s (BREB) efforts to increase electricity supply.

Under the country’s Electricity Distribution Modernization Program, BREB will also be able to strengthen battery energy storage system (BESS) and distributed renewable energy ‘through preparation of roadmaps for deployment’ through the financing.

BREB expects to supply 6,790 GWh more electricity under the program that’s designed to digitize and modernize 25 rural electric cooperatives or Palli Bidyut Samit in Dhaka and Mymensingh divisions.

Proceeds will also be deployed to improve and construct 31,000 km of distribution lines and install 200,000 advanced meters. Overall, the bank’s financing will help 9 million Bangladeshis to get access to reliable and clean electricity supply.

“The government of Bangladesh has prioritized access to electricity in the last decade and now the entire population has access to electricity. The installed generation capacity increased five-fold to 25 GW in the same period,” said Acting World Bank Country Director for Bangladesh and Bhutan, Dandan Chen. “Through this program, new and emerging technologies will further strengthen the efficiency and reliability of electric supply in the country to meet the need for faster economic growth.”

In a related news from another part of the globe, the World Bank has also approved an additional $100 million to support phase II of the Yemen Emergency Electricity Access Project that’s designed to improve electricity access in rural and peri-urban areas.

It is aimed at providing solar electricity access for public health centers, schools along with small and innovative businesses, enabling them to function normally as the conflict prone region’s ill-equipped electricity infrastructure struggles with fuel shortages.

Of the 3.5 million people to benefit from this arrangement, at least 48% are women and girls. In all, it will provide around 700 public service facilities and 100 schools with new or improved electricity services.

“Through the project, small and innovative businesses will be able to gain access to solar systems, encouraging job creation, and economic recovery,” explained World Bank Country Manager for Yemen Tania Meyer.

About The Author

Anu Bhambhani

SENIOR NEWS EDITOR Anu is our solar news whirlwind. At TaiyangNews, she covers everything that is of importance in the world of solar power. In the past 9 years that she has been associated with TaiyangNews, she has covered over thousands of stories, and analysis pieces on markets, technology, financials, and more on a daily basis. She also hosts TaiyangNews Conferences and Webinars. Prior to joining TaiyangNews, Anu reported on sustainability, management, and education for leading print dailies in India. [email protected]

Subscribe To Newsletter

Latest Videos