World Bank Invests in Solar Energy to Expand Access to Electricity in Guinea-Bissau

Source: www.gulfoilandgas.com 6/6/2024, Location: Africa

The World Bank’s Board of Executive Directors approved a $35 million grant to enable solar power generation and increase access to electricity in Guinea-Bissau.

The Guinea-Bissau Solar Energy Scale-up and Access Project will work on the development of solar energy generation and network enhancement, including the preparation and implementation for utility-scale solar parks and upgrade and expansion of solar grid infrastructure. It will also feature a component of capacity building and technical assistance to the Ministry of Energy and to the national utility company, Electricity and Water of Guinea-Bissau (EAGB).

“Improving infrastructure and services for inclusive growth are key priorities of the World Bank’s work in Guinea-Bissau. The Solar Energy Scale-up and Access Project will consolidate and complement three other ongoing projects in the energy sector, which are crucial for sustainable development,” said Anne-Lucie Lefebvre, World Bank Resident Representative in Guinea-Bissau. “At the moment, only 33% of Guinea-Bissau’s population has access to electricity, and around 58% in the capital city Bissau. Electricity is not only scarce but also very costly, making it among the most expensive in Africa. The country has large and untapped solar resources, which would be the least cost and fastest approach to solve the power supply gap.”

The project is expected to benefit residential, commercial, and industrial consumers all over Guinea-Bissau, including on the islands. It will also support the Government’s efforts to create an enabling environment for private sector participation, as well as spur economic growth and create green jobs.

The Solar Energy Scale-up and Access Project will be implemented until June 2030, and will benefit from $35 million grant financing from the International Development Association (IDA), $10.5 million from the Green Climate Fund (GCF), and $2.65 million from the Energy Sector Management Assistance Program (ESMAP).


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