The World Bank says its group funding for hydropower, other renewable energy projects, and energy efficiency increased 67 percent in the past year to US$1.43 billion.
Of that, the bank said, in the year ending June 30, it allotted US$751 million for hydropower projects of more than 10 MW. It awarded US$421 million for new renewable energy projects, including hydropower up to 10 MW, wind, solar, biomass, and geothermal projects. Energy efficiency projects received US$262 million.
ï¿½The World Bank considers hydropower, regardless of scale, as renewable energy,ï¿½ the bank said October 20. ï¿½However, for reporting purposes, hydropower projects in which the installed capacity at a single facility exceeds 10 MW are reported separately. Pumped storage, run-of-river hydropower, and hydropower projects with dams are included here if the capacity exceeds 10 MW.ï¿½
The bank said there has been a steady increase in the share of financing the World Bank Group committed for renewable energy and energy efficiency projects since 1990, with total financing topping US$11 billion. Financing for such projects represents 40 percent of the group’s commitments in the energy sector for the year.
Individual World Bank units committed the following in FY 2007:
o World Bank (International Bank for Reconstruction and Development and International Development Agency combined), US$430 million for hydropower, US$70 million for renewables including small hydro;
o Global Environmental Facility, US$121 million for renewables including small hydro;
o World Bank (Carbon Finance), US$66 million for hydropower, US$68 million for renewables including small hydro;
o International Finance Corp. (Own Funds), US$140 million for hydropower, US$154 million for renewables including small hydro;
o International Finance Corp. (Carbon Finance), US$7 million for renewables including small hydro;
o Multilateral Investment Guarantee Agency, US$115 million for hydropower.