World Bank Approves $311 Million for Renewable Energy in West Africa

• The $311 million funds will certainly be funded through International Development Association (IDA).
• The RESPITE project will support the setup of solar as well as battery storage space capacity, near-term O&M contracts for the provision of solar supply, expansion of hydropower generation capacity, grid connection infrastructure and grid modernization and also upgrades.

The World Bank has actually cleared the Regional Emergency Solar Power Intervention Project (RESPITE) for the West African area with an authorization of $311 million that will certainly be funded through its agency-- International Development Association (IDA).

The new project is expected to profit the existing and potential power consumers in the taking part nations of Chad, Liberia, Sierra Leone, and Togo. According to records, the RESPITE project financing will consist of a grant of $20 million that is targeted at assisting the strengthening of power sell the region and also step-up the institutional as well as technological capacities of West Africa Power Pool (WAPP) to aid it perform better for the region.

According to the World Bank, the RESPITE project will certainly support the installation of solar and also battery storage capacity, near-term O&M contracts for the arrangement of solar supply, extension of hydropower generation capacity, grid connection infrastructure and grid modernization as well as upgrades.

West Africa deals with most affordable electrification that instantly converts into high power electricity tariffs in the area. Rising oil costs as well as disruptions in the supply chain owing the disputes have strained the electricity utilities. A vicious cycle that involves brief power supply has an adverse impact on the economic growth of these countries.

The key objectives of the RESPITE project in the 4 nations are to step up renewable energy capacity which is grid-connected, more local integration, finance the development of concerning 106 MW of solar power, development of battery based power storage space systems, assistance broaden 41 MW of hydropower as well as reinforce green electricity distribution and transmission.

Rhonda Jordan-Antoine, World Bank Task Team Leader of the project, said, "Solutions supported by the new project are many-fold and have substantial benefits for the countries and also the region. Among others, it will offer fiscal room for nations to attend to food crisis resulting from the battle in Ukraine, initiate development of competitively tendered grid-connected clean power to alleviate present power supply crisis, positively address climate adjustment by helping countries to relocate away from expensive as well as contaminating fuels, as well as help integrate the WAPP network to enhance local integration in the power sector."

" RESPITE offers advantages that spill over nation boundaries and also complements existing regional integration efforts in the power field including all member states of the Economic Area of West African States (ECOWAS)", said Boutheina Guermazi, World Bank Director for Regional Integration for Sub-Saharan Africa, the Middle East and also Northern Africa.

She added, "It gives economic situations of scale, enhances capacity for local trade through financial investments in transmission and generation infrastructure to integrate the marketplaces physically, as well as creates local public good by helping with knowledge sharing as well as capacity building."

Earlier this year, Togo had received a loan from the West African Development Bank for the development of a 42 MWp solar power plant in the Awandjelo area.