World Bank to increase energy access in West Africa
- Approves $465 million in funding
- ERERA, WAPP to benefit
The World Bank has approved $465 million in funding for countries in the Economic Committee of West African States (ECOWAS). The funding will provide grid access and enhance power system stability to over 4.5 million people in the region. The funding will be used to implement projects under the new Regional Electricity Access and Battery-Energy Storage Technologies (BEST). The ECOWAS Regional Electricity Regulatory Authority (ERERA) and the West African Power Pool (WAPP) to benefit from the projects.
The projects will help the region in ”Bringing electricity to more households and businesses, improving reliability, and harnessing the region’s substantial renewable energy resources will help accelerate West Africa’s economic and social transformation”, Charles Cormier, Practice Manager in the Energy Global Practice at the World Bank says.
”By working together, these countries can optimize investments and economies of scale, harmonize equipment and standards, and synchronize systems to deliver the transformative power of electricity to more people and usher in a new era of low-carbon energy trade”, says Deborah Wetzel, World Bank Director of Regional Integration for Sub-Saharan Africa, the Middle East, and Northern Africa.