Bangladesh to boost renewables use with $55 million World Bank loan

01/06/2018 08:56 Solar

news

The World Bank will provide USD 55 million (EUR 47m) in debt to Bangladesh to enhance renewable energy use in rural areas of the South Asian nation.

The funds will go for the installation of 1,000 solar irrigation pumps and 30 solar mini-grids, the World Bank said on Wednesday. In order to cut greenhouse gas emissions, about four million improved cookstoves will be installed with the financing, which will come together with an additional USD-20-million loan from the Green Climate Fund for cookstoves with lower emission levels in particular.

 

The credit facilities have a term of 38 years, including a six-year grace period. They will be extended through the International Development Association, the World Bank’s concessional lending unit providing grants or zero-interest loans.

 

The enhancements will be made as part of Bangladesh’s Second Rural Electrification and Renewable Energy Development (RERED II) initiative. According to the World Bank, the country has one of the largest domestic solar programmes globally, covering 14% of its population.

Source: renewablesnow.com

Daily (18.03.2019): European spot prices tumbled by over 30% on Friday due to strong renewables generation

18/03/2019 10:30:00

Oil prices edged lower on Friday as rising crude U.S. weekly production and worries about global economy put pressure on the market. Brent crude slipped by 0.1% to $67.16 a barrel, while WTI futures traded 0.2% lower at $58.52 a barrel.

<READ MORE

Gazprom starts on Serbian CCGT

18/03/2019 09:06:00

Gazprom has started the construction of a 200 MW combined cycle gas turbine (CCGT) power plant in Serbia.

READ MORE

Bulgaria eyes to receive additional gas from Azerbaijan

18/03/2019 09:00:00

Bulgaria is interested in additional gas supplies from Azerbaijan, Bulgarian Prime Minister Boyko Borisov told reporters, Azernews informed. Borisov noted that during the meeting with President of Azerbaijan Ilham Aliyev, the issue of the construction of an interconnector for connecting to the TAP for the delivery of 1 billion m3 of gas to Bulgaria was discussed.

READ MORE