International finance institution the World Bank will support the development of Guinea-Bissau’s first solar power plants with a $35 million grant through its Solar Energy Scale-up and Access project.
Approved by the bank’s Board of Executive Directors, the project entails the development of 30 MW of solar parks with battery energy storage systems as well as the enhancement of transmission grid infrastructure in the country. The project will be implemented until June 2030.
“At the moment, only 33% of Guinea-Bissau’s population has access to electricity,” stated World Bank Resident Representative in Guinea-Bissau Anne-Luci Lefebre, adding, “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 will also support capacity building and technical assistance to the country’s Ministry of Electricity and Water and national utility company the National Electricity and Water Company of Guinea-Bissau.
Financing for the project will be provided by the World Bank’s subsidiary – the International Development Association. Multilateral climate fund Green Climate fund will provide $10.5 million while technical assistance program the Energy Sector Management Assistance Program has pledged $2.65 million in grant financing.