The World Bank has a new program for financing the advanced battery storage systems essential for making wind and solar power work
A global energy transition is under way. Its potential to redraw the landscape will be most profoundly felt in developing economies. These economies will be the key locations of growth and investment. Developing countries have already become the largest absolute source of energy demand, and they are far outpacing OECD countries in terms of growth. Similarly, investment in renewables is now also led by developing countries. Sub-Saharan Africa, home to a majority of the world’s population living with limited, poor quality or no electricity, will likely see some of the most significant of these transformations.
What we can safely guess about the changing system is that it will include a large role for batteries for both electric vehicles and power storage. How governments respond will be essential, and the World Bank is responding with a focused, first-of-its-kind program to help.
Bushveld Minerals Limited (LON:BMN), together with its subsidiaries, engages in the exploration and development of mineral projects in South Africa. It operates through three segments: Vanadium and Iron Ore, Coal Exploration, and Vanadium Mining and Production.