World Bank to invest $224M in off-grid solar project in West Africa

Energy
Wednesday, 24 April 2019 15:29
World Bank to invest $224M in off-grid solar project in West Africa

(Togo First) - The World Bank just greenlit a $224.7 million financing to help BOAD and ECOWAS expand access to off-grid power across 19 countries, in West Africa and Sahel, therefore including Togo.

The funds fall under the off-grip power regional project. Most of these, $150 million, will be in the form of loans and grants from the International Development Association (IDA) while the remaining $74.7 million will be provided as a subsidy from Clean Technology Fund. Funds secured by the ECOWAS will be directed to its center for renewable energy and energy efficiency (ECREEE).   

Most of the funds will serve to improve power access by households, businesses and public institutions, “through a harmonized regional approach to deploy modern autonomous solar systems.” At least 1.7 million people are currently lacking access to electricity or with a poor access.

So far, only 3% of households in West Africa and Sahel use domestic solar systems while there are still 208 million people with no access to power in the region. This project will help decision-makers lower barriers to enable the creation of a regional market for such equipment needed to reduce energy insufficiency in the region, said Rachid Benmessaoud (photo), coordination head of regional integration in West Africa.

Countries that will mainly benefit from the funding are Benin, Burkina Faso, Cape Verde, Cameroon, Côte d’Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Mauritania, Niger, Nigeria, Central African Republic, Senegal, Sierra Leone, Chad and Togo.

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