The World Bank, IFC, and MIGA launched a joint program to triple the electrification pace in Sub-Saharan Africa. The initiative will work with governments and the private sector to scale up private financing and deliver clean energy services through decentralized renewable energy solutions, such as mini-grids, off-grid solar markets, and systems for schools and health facilities, solar irrigation and cold chain for farmers, and innovative business models to displace diesel generation and improve access reliability.
The panel discussed the importance of accelerating investment in distributed energy solutions and how innovative risk mitigation solutions can unlock barriers to investment. Ruth Nankabirwa Ssentamu, Uganda’s Minister of Energy and Mineral Development, spoke about the need for electricity in her country, particularly in remote areas such as islands. Hiroshi Matano, Executive Vice President of MIGA, highlighted how political risk solutions can help mitigate some of the key risks while improving the viability of projects and accelerating scale.
Speakers are listed below