World Bank Group touts renewable energy funding
- The World Bank Group announced its financing for renewable energy and energy efficiency projects in developing countries rose to its highest level ever.
The group said its financing for renewable energy and energy efficiency projects rose 24 percent in the last fiscal year to $3.3 billion.
The bank during the past five years approved 366 projects in 90 countries. In the past year alone, it approved 99 projects in 48 countries.
The World Bank Group said it passed the financial commitments made at the Bonn International Renewable Energies Conference in 2004 for new energy projects by roughly $1.9 billion during the last four years.
"We've now committed to even more challenging goals on clean energy and carbon intensity reduction investments as we strive to make reliable energy access for all a reality," said Katherine Sierra, vice president for sustainable development at the World Bank.
The bank said that two out of every three dollars spent in private sector development were in the sector of renewable energy or energy efficiency.
Commitments to renewable energy and energy efficiency for the year ending June 30 represented 40 percent of the total energy lending by the bank.
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Power demand across hotels, offices, recreational facilities and restaurants have dwindled as British Columbians self isolate.
The shortfall means there's a surplus of water in reservoirs across the province.
"This drop in load in addition to the spring snow melt is causing our reservoirs to reach near capacity, which could lead to environmental concerns, as well as public safety risks if we don't address the challenges now," said spokesperson Tanya Fish.
Crews will have to strategically spill reservoirs…
