The Maharashtra government has approved a Rs 12,303 crore clean energy programme to expand renewable power, strengthen grid infrastructure, and improve long-term energy security. The decision was taken at a state cabinet meeting chaired by Chief Minister Devendra Fadnavis. The programme, titled Maharashtra: Accelerating Green Energy and Storage Technologies Integration in Connected Grid (MAGESTIC), targets…
Transformers and Rectifiers India Limited has informed stock exchanges that it is no longer on the World Bank list of debarred entities. The update follows an earlier notice in which the company was declared ineligible for World Bank funded projects linked to an old Nigeria supply contract. The World Bank has now given the company…
The World Bank has announced a $2.5 billion initiative to help East Asia and Pacific countries decarbonise their power sectors, with a focus on scaling up renewable energy. The program will be implemented through the Multiphase Programmatic Approach (MPA), launched in 2024. The MPA provides financing from IDA and IBRD to support policy development, strengthen…
The World Bank has approved the Indonesia Electricity Network Transformation (I-ENET) Program, a $500 million operation to upgrade electricity distribution in Java, Madura, and Bali. The initiative is designed to improve the integration of renewable energy and accelerate the digitalisation of Indonesia’s grid. Indonesia’s rising electricity demand has so far been met mainly through fossil…
Mozambique is advancing plans for the $6 billion Mphanda Nkuwa hydroelectric project on the Zambezi River, backed by the World Bank and private partners. The facility is expected to generate 1,500 megawatts when it becomes operational in 2031, making it southern Africa’s largest hydropower project in five decades. World Bank President Ajay Banga highlighted the…
The World Bank has approved a $134 million operation to support the green hydrogen strategy of the Pecém Industrial and Port Complex Company (CIPP) and the Government of Ceará. Located in Northeastern Brazil, CIPP is one of the country’s most advanced logistics and industrial zones and is emerging as a key site for green hydrogen…
The World Bank has approved a $146 million grant through the International Development Association (IDA) to restore Syria’s damaged power infrastructure. The Syria Electricity Emergency Project (SEEP) aims to repair high-voltage lines and substations, with a focus on war-affected regions and key 400kV interconnections with Jordan and Türkiye. Most parts of Syria currently receive just…
The World Bank Group has signed an agreement with the International Atomic Energy Agency (IAEA) to promote the safe and responsible use of nuclear energy in developing countries. The move marks the World Bank’s first direct engagement with nuclear power in decades. The memorandum of understanding focuses on three key areas: First, the IAEA will…
The World Bank has ended its 2013 ban on financing nuclear energy projects in developing countries. The decision, reported by Reuters, reflects a shift in response to rising electricity demand and a push for energy diversification. Under the new strategy, the Bank will support countries in developing nuclear power, including life-extension of existing reactors and…
The World Bank has approved a USD350 million grant for the Mpatamanga Hydropower Storage Project (MHSP) in Malawi. The funding was cleared by the International Development Association (IDA), a part of the World Bank Group. The 358.5 MW project was co-developed by the Government of Malawi and the International Finance Corporation under a public-private partnership…