The World Bank will invest $ 1bn of its own funds in the Accelerating Battery Energy for Development projects . The scheme is aimed at bringing renewable energy , including utility - scale solar parks with battery storage and off - grid systems , to developing countries . A further $ 1bn will be raised via such funds as the Climate Investment Funds ’ Clean Technology Fund , while public and private investors will contribute $ 3bn , 000 to the World fund . No countries have been confirmed for the scheme . South Asia , Africa and the Pacific have previously received support from the World Bank for storage projects .
The World Bank will invest $1bn of its own funds in the Accelerating Battery Storage for Development programme. The scheme is aimed at bringing renewable energies, including utility-scale solar parks with battery storage and off-grid systems, to developing countries. A further $1bn will be raised via such channels as the Climate Investment Funds’ Clean Technology Fund, while public and private investors will contribute $3bn, according to the World Bank. No countries have been confirmed for the scheme. South Asia, Africa and the Pacific have previously received support from the World Bank for storage projects.