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World Bank has approved $465 million for improved energy access in West Africa.
- The new project aims to extend grid electricity access and integrate renewable energy into the grid.
The World Bank has approved US$465 million in financing to improve energy access in West Africa. The funds will be provided by the International Development Association (IDA) and will enable the implementation of a new regional electrification project and battery energy storage technologies (BEST). The project will extend grid electricity access to over one million people, strengthen grid stability and enable renewable energy integration in the West African Power Pool (WAPP).
According to the WAPP, the integration of electricity storage technologies will allow utilities in West African countries to store renewable energy produced during off-peak hours and distribute it during peak demand. The World Bank believes that BEST will encourage private sector participation in the renewable energy market. Under the project, energy storage systems will be deployed for the 793MW of new solar energy capacity that WAPP intends to develop in Mali, Ivory Coast and Niger.
World Bank’s officials believe that West African countries can work together to maximise investments and economies of scale, harmonise equipment and standards, and synchronise systems to bring the power of electricity transformation to more people and usher in a new era of low-carbon energy trade.