IFC power investments are well-diversified by technology and geography, with over 150 million consumers reached through our projects. Investments in the power sector have a direct development impact:
Reliable electric power: fuels industry and services, which in turn helps to create jobs and boost economic growth; provides light to schools, hospitals, and health clinics; improves household and urban safety; and helps farmers grow, process, and store food.
Climate change is of central importance in the power sector as 75 percent of energy consumed today comes from burning fossil fuels, which produces the greenhouse gases that cause climate change. A key objective of IFC’s strategy in the power sector concerns the greater commercial use renewable energy and energy efficiency measures in order to support the transition to a low-carbon world.