africa Angola development Energy environment Finance

World Bank to support Angola’s solar energy expansion

The World Bank (WB) will support Angola to implement and expand solar energy at public network to sort out the country’s poor power supply recorded mainly in rural zones.

For the materialization of this support, the Ministry of Energy and Waters (MINEA) invited a group of World Bank experts to introduce its programme dubbed “Scaling Solar”, which is expected to provide an integrated solution for African countries.

The said programme is also intended to make the African governments to quickly mobilize private investment on solar energy projects connected to power supply during a period of two years.

The programme introduced on Monday in Luanda during a seminar run by MINEA also expects to assist the African countries in the implementation of projects that secure among other aspects, favourable tariffs, and attraction of private investment, commitment of competent and seasoned promoters of solar technologies and mainly the financing of long-term solar energy projects.

On the occasion, the Angolan Secretary of State for Energy, António Belsa da Costa, said that the member institutions of the World Bank have been important partners of Angolan development, taking into account that the current government is conducting an assessment process for a new cooperation for the development of renewable energies.

In the meantime, for the World Bank experts, countries need to diversify their source of power to reduce the dependence on fossil fuel.

To this institution, the “Scaling Solar” project offers speed, efficiency, programmatic scale and competition to reduce the tariffs and attract the participation of private promoters with financial and technical capacity.

African countries such as Zambia, Senegal, Madagascar and Mozambique, among others, have already benefited from this programme.

Source: Angop

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