Development Banks Have $56-Billion Plan to Boost Africa’s Access to Electricity

Nearly half of Africans lack reliable electricity.

 


Image for illustration purposes.

Development banks have unveiled an ambitious $56 billion plan to transform Africa’s power infrastructure, aiming to significantly boost electricity access across the continent.

The programme, led by major development banks including the African Development Bank and World Bank, focuses on several key areas:

Power Generation:
– Expanding renewable energy projects
– Modernising existing power plants
– Developing new generation facilities

Grid Infrastructure:
– Building new transmission lines
– Upgrading distribution networks
– Implementing smart grid technologies

Rural Electrification:
– Extending power lines to remote areas
– Developing off-grid solar solutions
– Creating microgrids for isolated communities

The initiative aims to connect millions of households and businesses to reliable electricity over the next decade. This investment is expected to drive economic growth, improve healthcare and education services, and enhance quality of life across African nations.

Source: OilPrice.com