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$350Mn Support for Energy Storage Announced (Int'l. Funding)
Climate Investment Fund
Date: 2019-09-27
The World Bank is reporting several European states have committed to bankroll various World Bank clean energy initiatives in support of renewable energy-- energy storage projects in middle-income and developing countries.

The funding comes as part of the Climate Investment Funds Global Energy Storage Program's Energy Storage Partnership aimed at financing 17.5GWh of battery storage by 2025 -- over triple the 4-5GWh installed across all developing countries. The program is expected to support middle-income and developing countries as they increase their use of renewables, improve energy security, grid stability and expand electricity access.

In addition to the UK's £200 million commitment, France and the Netherlands pledged US$55 million and US$44 million respectively for the development of solar in Sub-Saharan Africa.(Source: World Bank, Energy Storage, 24 Sept., 2019)Contact: Climate Investment Fund, www.climateinvestmentfunds.org

More Low-Carbon Energy News Solar,  Energy Storage,  Climate Investment Fund,  


AfDB Supports Kenyan Geothermal Power Project (Int'l, Funding)
African Development Bank
Date: 2018-06-15
The Ivory Coast-headquartered African Development Bank (AfDB) Climate Investment Fund (CIF) Clean Technology Fund (CTF) is reporting approval of $49.5 million in loan funding -- a senior loan of $29.5 million and a concessional loan of $20 million -- to support Quantum Power East Africa GT Menengai Ltd. 35-MW geothermal project in Kenya.

To support the project, the Government of Kenya is creating an enabling environment to enhance private sector investment through a competitive tender processes intended to lower the unit costs of geothermal power generation as well as lowering the cost of doing business in Kenya.

The project is expected to save up to 95,100 tons of CO2 equivalent and supply sufficient energy to as many as 48,800 households per year at a low generation cost of seven cents/kWh. (Source: AfDB, CPI, 10 June, 2018) Contact: AfDB, Amadou Hott, VP Power, Energy, Climate and Green Growth, +225 2026 3900, www.afdb.org/en

More Low-Carbon Energy News African Development Bank ,  Geothermal,  


World Bank Funds Ghana Climate Change Mitigation Project (Int'l)
World Bank
Date: 2018-02-12
The World Bank (WB) Climate Investment Fund is reporting the launch of Ghana Dedicated Grant Mechanism for Local Communities, a 5-year, $5.5 million project to mitigate the impact of climate change in 52 forest fringe communities in Ghana. The project is being implemented by the Solidarid West Africa, a partner of the WB, which seeks to fight forest loss and half unsustainable land use practices in the drive against climate change and associated impact.

The first component of the project focuses on the dissemination of knowledge to increase communities understanding of the linkages between climate change and their current land use practices. The second component focuses on the provision of demand driven sub-grants to communities and Community-Based Organisations (CBOs) to put into practice knowledge acquired by the beneficiaries for climate change mitigations.

The WB and its partners are implementing similar community projects in Mexico, Indonesia, Burkina Faso, Peru, Brazil, Laos and Congo. (Source: GNA, World Bank, 9 Feb., 2018)

More Low-Carbon Energy News World Bank,  Climate Change,  


Notable Quote

Date: 2017-03-27
"It's clear that the administration intends to halt or reverse everything domestic and foreign related to addressing the challenge of climate change. It's breathtakingly consistent."

"The President's 2018 Budget eliminates the Global Climate Change Initiative and fulfills the President's pledge to cease payments to the United Nations' climate change programs by eliminating U.S. funding related to the Green Climate Fund and its two precursor Climate Investment Funds." -- Kei Koizumi, Former Obama Admin. Office of Science and Technology Policy

More Low-Carbon Energy News Carbon Emissions news,  Climate Change news,  

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