NDF - Financing for climate change and development projects

New study on technologies for low carbon development in Africa

9.12.2011

World Bank (WB) is partnering with the Nordic Development Fund (NDF) to launch a comprehensive study on technologies and financing for low carbon development in Sub-Saharan Africa

Low carbon emissions development holds important promises for Africa. The continent has a vast potential of largely untapped low carbon energy, which if utilized could substantially contribute to improve the region’s low rates of energy access. According to one estimate, low carbon technologies have the potential to add 70 GW of additional low carbon power in next 20 years, resulting in emission reduction of over 200 million tons of CO2. At the same time improved management of agriculture and reduced deforestation could decrease emissions, improve yields and food security, and enhance resilience to climate variability and change. While the existing evidence points to the overall strategic importance of low carbon options for Africa’s’ development, in order to spur action and attract investments there is a need for better information and analysis on the technical and financial potential of specific options.  In addition, existing financing instruments (including the Clean Development Mechanism - CDM) have so far proven inadequate to mobilize the funds needed to support low carbon technologies at scale. It is important to identify new options that can work better and faster for Africa. The EUR 1.1 million study will review the current status of knowledge on the technical potential, at the regional level, of wind, solar (Concentrated Solar Power) and geothermal energy. Based on a critical assessment of key knowledge gaps, it will then analyze in further detail the potential for rapid deployment of these technologies in a sub-set of countries, to be selected in a way that could maximize the transferability of methodologies to other countries.

More Information
NDF C37 Africa Regional: Technologies for Low Carbon Development