Many people, especially in parts of Africa and Asia, still lack access to electricity. Energy is essential for economic and social development, and the private sector plays a key role in expanding access and improving reliability. Addressing power shortages can boost productivity, create jobs, and reduce poverty.
Tackling energy challenges is also critical to fighting climate change. As the global energy system shifts, renewable sources like solar, wind, hydropower, biomass, and geothermal are vital for building sustainable and secure infrastructure. Improving energy efficiency and increasing clean energy investment support long-term growth.
IFC helps governments partner with the private sector to develop sustainable, bankable power generation (wind, solar, hydro, gas, and battery storage) and transmission & distribution (including utilities, mini-grid, and off-grid) projects through expertly structured PPPs.
