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The core problem with RES developments in, for example, Africa is:
a) the counterparty – who pays for the energy? (& how reliable are they)
b) African governments (who more often than not act as kleptocratic gatekeepers).
Thus if the WB wants to make a diff, part of the answer is acting as a backstop for projects where payments for energy (electricity) by XYZ in African country ABC has some kind of guarantee behind it – via the WB. If that is the case, then private finance is quite able to fund the projects because in effect there is some insurance provided by the WB.
Good point. Let’s see how the new president deals with this.