Mini-Grid Firms Need $46 Billion for World Bank Power Plan

Leaders of the some of the world’s biggest solar mini-grid companies said they need as much as $46 billion in investment by 2030 to achieve the electrification goals of 29 African countries that plan to use the technology under a World Bank-backed program.

The firms, which include the largest operator, Husk Power Systems, said as much as $28 billion in debt funding, $14 billion in equity investment and $4.6 billion in grants and subsidies will be needed to meet the countries’ targets, they said in a plan released Monday.