World Bank to help Tuvalu reach 100% renewables generation

The World Bank said on Monday it will grant USD 7 million (EUR 6.2m) to help the island nation of Tuvalu achieve its objective of generating 100% of its electricity from renewable sources by 2020.

The financing will support the Tuvalu Energy Sector Development Project (ESDP), which envisages the deployment of solar and wind parks along with systems to provide power grid stability and to store excess energy.

As part of the plan, prepayment meters will be installed for customers of the national energy supplier, Tuvalu Energy Corporation (TEC), while smart meters will be supplied for large consumers.

Tuvalu’s goal is to reduce its reliance on imported fuel for power production.

The World Bank will lend the money through its fund for the poorest countries -- the International Development Association (IDA).

(USD 1.0 = EUR 0.884)

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