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Between 1990 and 2007 the World Bank Group has committed approximately $11.4bn toward clean energy. From this, new renewable energy and energy efficiency each received $3.1bn, while $5.2bn went to hydropower projects with capacities greater than 10 MW per facility.
Renewable energy and energy efficiency projects continue to perform strongly in the WBG energy portfolio and are increasingly being mainstreamed in the WBG’s energy lending. In fiscal 2007 a total of $1.43bn supported 63 renewable energy and energy efficiency projects in 32 countries. This represents a 67 percent scale-up in commitments from fiscal 2006. The WBG’s support can be broken down into $421m for new renewable energy, $751m for hydropower greater than 10 MW, and $262m for energy efficiency. Since 2001, WBG’s clean energy lending has increased markedly.
The average share of 'clean' (e.g. solar, wind, clean coal) energy in total energy investment (which includes standard fossil fuels has doubled since 1990–94 to 25 percent in 2005–07 and reached 40 percent in fiscal 2007 (the World Bank fiscal year ends on 30 June).
The World Bank Group (WBG) is composed of the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA) and the International Centre for Settlement of Investment Disputes (ICSID). Besides ICSID, each plays a role in clean energy investment.
Sub-Saharan Africa received $735m in renewable energy and energy efficiency commitments for 12 projects, which accounted for 51 percent of total clean energy lending. The majority of these commitments were devoted to large hydropower projects, followed by investments in energy efficiency improvements. Eleven projects were developed in South Asia, which accounted for $183m in funding devoted mostly to new renewable energy. In the East Asia and Pacific, Latin America, and Middle East and North Africa regions, WBG activities were also focused mainly on new renewable energy. In contrast, activities in Europe and Central Asia were focused predominantly on energy efficiency improvements, which attracted $97m in commitments.
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