News

The World Bank Group announced today a new program to fast-track the adoption of offshore wind energy in developing countries.

The program will convene developing country governments, commercial developers, development partners, and wind energy experts to raise awareness around offshore wind opportunities in emerging markets and lay the groundwork for a pipeline of new projects that could be supported by World Bank or IFC financing. The World Bank and IFC will work with public and private sector partners to undertake technical studies and develop national strategies to facilitate the adoption of this increasingly cost-competitive technology.

Led by the Energy Sector Management Assistance Program (ESMAP), in partnership with IFC, the US$5 million program is being initiated thanks to a GBP£20 million grant to ESMAP from the United Kingdom government. This work will take place in cooperation with the Global Wind Energy Council (GWEC) and its recently-formed Offshore Wind Task Force which brings together leading offshore wind developers, equipment manufacturers and service providers.

Read the full press release here.

The Global Wind Atlas, developed in partnership by ESMAP and Department of Wind Energy at the Technical University of Denmark and with 30km coverage offshore at 250m resolution, is a key resource that can help policymakers and investors identify potential high-wind areas for wind power generation virtually anywhere in the world.