At the second edition of the One Planet Summit in New York in 2018, the World Bank Group announced the launch of a $ 1 B global programme to accelerate the deplyment of battery-based electricity storage. This important announcement aims to develop investment in technology solutions that will strengthen energy systems in developing and middle-income countries.

By catalysing new markets for the deployment of batteries for advanced energy networks to help developing countries expand their access to electricity, the programme aims to improve the resilience of networks and to move to a new generation of energy technology.

Over the period 2018-2022, the World Bank has committed more than $ 5.4 B  to renewable electricity projects and approximately 7.6 GW of renewable energy capacity has been installed or rehabilitated through World Bank operations.

The financing, consisting of $ 1 B from the World Bank's own funds, will be supplemented by a second $ B from concessional climate finance, in particular from the Clean Technology Fund (CTF) of the Climate Investment Funds (CIF). In addition, the initiative is expected to mobilise a further $ 4 B  in concessional finance and private investment, resulting in 17.5 GWhs of new storage capacity by 2025 - more than triple the 4-5 GWhs currently installed in all developing countries.

The programme also aims to create a global working group dedicated to battery electricity storage. The group will bring together national laboratories, research institutes, development agencies and philanthropic organisations to foster international technological cooperation and develop new storage solutions tailored to the needs of developing countries.

For several years now, the World Bank has been supporting the deployment of batteries coupled with solar and wind energy, particularly in Africa, South Asia and the Pacific. It has financed around 15% of the storage capacity of stationary batteries being installed or already operational in developing countries, in particular as part of projects to improve the resilience of island states.