Sustainable Renewables Risk Mitigation Initiative

🌍 In Sub-Saharan Africa (SSA), heavy reliance on imported fuels exposes countries to price volatility deepening fiscal deficits which limits options for transitioning to #CleanEnergy (power sector trap). Energy storage (e.g., storing renewable energy in batteries) offers a promising solution to break this cycle and foster sustainable development. 🔋 Combining #RenewableEnergy with storing such energy in batteries etc. is pivotal in transforming SSA's energy landscape. The World Bank’s #ESMAP, through initiatives like the #EnergyStoragePartnership, Technical Assistance, and #ClimateFinance, is at the forefront of this transition. These efforts are crucial in creating enabling environments for scalable innovations.   🌱 Both the #Agriculture and #Energy fields show how investing in the "missing middle" between initial innovations and large-scale applications of such innovations is critical to driving #Food and #EnergySecurity. This systemic approach aligns with #ESMAP's broader strategy, addressing complex challenges through cross-sectoral collaboration.   💡 By integrating energy storage (batteries etc.) with renewables, we can achieve a sustainable energy transition, reflecting #ESMAP's commitment to affordable, reliable, and modern energy for all on a #LivablePlanet.   Learn more about #ESMAP’s Energy Storage Program: https://lnkd.in/eu3NWjJx #WBGMeetings #EnergyStorage #RenewableEnergy #ESMAP #SubSaharanAfrica #SustainableDevelopment #EnergyTransition #PoweringAfrica #Mission300  Chandrasekar Govindarajalu Fanny Missfeldt-Ringius Juliet Pumpuni Rafael Ben Talal Kanaan Oscar Gasca Lucie Blyth Sameer Shukla Sustainable Renewables Risk Mitigation Initiative

The World Bank #ESMAP with its Sustainable Renewables Risk Mitigation Initiative, GET.transform International Renewable Energy Agency (IRENA), and POWER FUTURES LAB, bring together African power sector leaders for a 9-month long training on tenders and creating a cohort of experts on the continent. Learn how the program aims to foster renewable power procurement capabilities in #Africa⚡️http://bit.ly/484Q2F4 Sabine Cornieti

The IEA's latest analysis in the Renewables 2024 report shows that by 2030, global renewable capacity could grow enough to equal the entire power capacity of the U.S. and E.U. combined. 🌱⚡ While this is great news, we need all sectors to work together to hit the tripling renewables target by 2030. The next six years will define how close we come to a secure, sustainable energy future for all. SRMI Partners are together to make it happen! https://lnkd.in/eRFnCK6y #3xrenewables #RenewableEnergy #EnergyTransition #NetZero2030 #SDG7

🌍 Exciting news from The Gambia! The World Bank, in collaboration with the Gambia's Ministry of Petroleum and Energy (MoPE) and National Water and Electricity Company NAWEC, has launched the nation’s first renewable energy tender to bring a 50 MWp solar project to life in Soma. This transformative project is backed by SRMI's funding and advisory support to secure an Independent Power Producer (IPP). This tender is a powerful step forward for sustainable energy development in West Africa, advancing The Gambia’s energy resilience and opening doors for future renewables growth. 🌞 More details here: https://lnkd.in/eVcekFdM #EnergyTransition #TheGambia #WestAfrica #SolarTender #renewableenergy #IPPs #SDG7

Africa’s clean energy potential is vast, but greater private sector involvement is needed to unlock finance and scale renewable energy projects. Independent Power Producers (IPPs) are leading the way, with auctions playing a key role in their development. To boost IPP procurement, the Policy Catalyst: Effective Renewable Energy Tendering Window —a joint initiative by GET.transform POWER FUTURES LAB, and the ESMAP - Energy Sector Management Assistance Program at the World Bank under the SRMI partnership is supporting 12 Sub-Saharan African countries in attracting private investment. 🌍⚡ Read more about the program here https://lnkd.in/e-NSqNFa #RenewableEnergy #Africa #CleanEnergy #IPPs #EnergyTransition #tenders #SDG7 #3xrenewables

❗ Virtual #ClimateWeekNYC event alert ❗ 🗓 September 25 10:30 am ET Register here: https://lnkd.in/eqjDDH5j Amidst backdrop of the UN Summit of the Future and the Global Renewables Summit during UN High-Level Week, join us at the launch of our latest report, “Empowering Small Island Developing States: Scaling Up Renewable Energy for Resilient Economic Growth” Small Island Developing States (SIDS) face unique challenges in their energy sectors but also have incredible potential to harness renewable resources like solar, wind, and marine energy. As the costs of renewable technologies plummet, the opportunity to transition from fossil fuels to cleaner, more resilient energy has never been more compelling. At our event, we’ll dive deep into: 🔹 The power sector challenges and renewable opportunities in SIDS 🔹 Boosting private sector investments for energy transitions 🔹 Building local expertise in power planning, procurement, and workforce development 🔹 Accessing climate and concessional finance to close the investment gap #SIDS #Energytransition #3xrenewables #UNGA #ClimateWeekNYC #SDG7

🌍 New Report Released! The UN Secretary-General’s Panel on Critical Energy Transition Mineral released its report with crucial recommendations to guide the global energy transition. With demand for critical minerals expected to triple by 2030, this report offers actionable guidance for governments, industries, and stakeholders to advance fairness and justice throughout the mineral value chain, from mining to recycling. SRMI partners International Renewable Energy Agency (IRENA) and The World Bank were part of the panel that drafted this repot. By embedding equity, sustainability, and human rights at every step, we can ensure that the energy transition not only tackles climate change but also spurs sustainable development and that leaves no one behind. Read the full report and learn more about the recommendations here: https://lnkd.in/eRn3w4Ky.. #EnergyTransition #CriticalMinerals #Sustainability #JustTransition #RenewableEnergy #3xrenewables

❗ Virtual #ClimateWeekNYC event alert ❗ 🗓 September 25 10:30 am ET Register here: https://lnkd.in/eqjDDH5j Join us at the launch of our latest report, “Empowering Small Island Developing States: Scaling Up Renewable Energy for Resilient Economic Growth” Small Island Developing States (SIDS) face unique challenges in their energy sectors but also have incredible potential to harness renewable resources like solar, wind, and marine energy. As the costs of renewable technologies plummet, the opportunity to transition from fossil fuels to cleaner, more resilient energy has never been more compelling. At our event, we’ll dive deep into: 🔹 The power sector challenges and renewable opportunities in SIDS 🔹 Boosting private sector investments for energy transitions 🔹 Building local expertise in power planning, procurement, and workforce development 🔹 Accessing climate and concessional finance to close the investment gap

Tracking SDG 7: The Energy Progress Report is a global reference for information on progress toward achieving Sustainable Development Goal 7 (SDG 7). The report is produced annually by the five custodian agencies responsible for tracking progress toward the goal. Two of them, the International Renewable Energy Agency (IRENA) and The World Bank, are SRMI partners. The 2024 edition of Tracking SDG 7: The Energy Progress Report highlights the need for increased efforts to achieve SDG 7 on time. While there has been some progress in certain areas, such as the deployment of renewables in the power sector, more substantial advancements are necessary to meet the targets outlined in the SDGs. Demetrios Papathanasiou, Global Director of Energy and Extractives at World Bank provides a summary of the key findings and what we need to do change course. See the full report here: https://lnkd.in/dGXvvsx #SDG7 #EnergyAccess #EnergyTransition #SustainableDevelopment #RenewableEnergy #ClimateAction #EnergyEfficiency #DecentralizedEnergy #InclusiveGrowth #GreenInvestment #SubSaharanAfrica #UniversalAccess #EnergyforDevelopment

According to the #IEA: Over the coming five years, several #renewableenergy milestones are expected to be achieved: 1. In 2024, wind and solar PV together generate more electricity than hydropower. 2. In 2025, renewables surpass coal to become the largest source of electricity generation. 3. Wind and solar PV each surpass nuclear electricity generation in 2025 and 2026 respectively. 4. In 2028, renewable energy sources account for over 42% of global electricity generation, with the share of wind and solar PV doubling to 25%. The #energytransition #revolution is happening!