World Bank Global Issues Seminar Series by worldbank


									                                                         World Bank Global Issues Seminar Series

                           Towards a Sustainable Energy Future
                                                                                                                    Note for Participants 1
                                                                                                    Jamal Saghir and Kyran O’Sullivan
                                                                                                                           The World Bank

      This Note is intended to be a short introduction to issues of sustainable development and does
      not aim at a comprehensive treatment. A reading list is appended so that participants can refer
      to these publications which treat the issues in depth. The findings, interpretations, and
      conclusions expressed here are those of the authors and do not necessarily reflect the views of
      the Bank’s Management, Board of Directors of the World Bank or the governments they

1. Introduction
Affordable and reliable energy services underpin economic and social development in
rich and poor countries alike.

Energy and economic growth. Energy services matters more than ever in the global
fight against poverty, because these services underpin economic growth that provides
jobs in developing countries where they are sorely needed. Most economic activity would
be impossible without energy, even the small scale village and household enterprises in
developing countries that are the main source of income for the poor in those countries.
The services that hydrocarbons and electricity provide – motive power for industry and
agriculture; transportation of people and goods; heating and cooling of workplaces,
power for appliances – increase productivity and economic output. Thus economic
growth that creates jobs and raises incomes depends on greater access and more efficient
use of energy services and their constituent energy resources.

                           Fig. 1. Energy Consumption and Economic Growth
                            Commercial energy use per capita (kilograms of oil equivalent)





                                                                                                    1       5001          10001           15001          20001          25001        30001   35001

                                                                                                        G N P p er ca p ita (US $ a d justed fo r p urc ha sing p o w er pa rity )

Source: World Bank, World Development Indicators database

    John Besant-Jones contributed to this Note.
Energy and human development. The importance of energy services for social
development is reflected in the association between energy consumption and human
development.     Figure 2 shows the strong correlation between commercial energy
consumption and UNDP’s Human Development Index. This index is composed of human
development indicators that reflect achievements in the most basic human capabilities –
leading a long life (life expectancy), being knowledgeable (educational achievement),
and enjoying a decent standard of living (income, measured in purchasing power parity

                Fig. 2. Energy Consumption and Human Development

Source: UNDP

Far from being affordable and reliable, the reality today in many of the world’s poorest
countries is that energy services are expensive and often only intermittently available.
Lack of reliable energy services in these countries imposes a huge cost on industry and
commercial firms undermining their competitiveness and therefore their ability to expand
and provide employment. This situation entrenches poverty, constrains the delivery of
social services, limits opportunities for women, and erodes environmental sustainability.

Much can be done at the national and sub-national levels to ensure sustainable
energy development. Governments are responsible for removing institutional and
regulatory barriers that prevent energy companies from delivering modern fuels and
electricity, to regulate environmental performance of energy supply and consumption and
to mobilize financial resources for investments in energy infrastructure and services.
Legislators and policy makers in national and local governments should take the lead in
linking energy planning to meeting economic and social development goals and in
sustaining political commitment to sound energy sector management and governance.
However action at the national and sub-national level alone is not enough to ensure
sustainable energy development.

There are also global aspects to sustainable energy development that require
international consensus building, coordination and action. This Note addresses these
aspects from a number of points of view:

                      energy security;
                      energy and poverty reduction
                      energy and environment;
                      investment for energy development;
                      energy technology development and deployment; and
                      energy trade

2. Energy Security
The precise meaning of energy security will vary by country. For energy producers,
energy security is the ability to secure long term and attractive markets for their natural
resources that often underpin their economies. For the developed and developing
countries, energy security is the reliable and affordable supply of energy that enables
their economic development and supports a high and growing quality of life. For the
World Bank, energy security means ensuring countries can sustainbly produce and use
energy at reasonable cost in order to:

       Facilitate economic growth and, through this, poverty reduction; and
       Directly improve the quality of peoples’ lives by broadening access to modern
       energy services.

Economic disequilibrium can result if energy supplies do not meet demand. The
latest forecast of the International Energy Agency show global energy demand increasing
by more than 50% by 2030. The IEA concludes that the world’s primary energy
resources are adequate to meet the projected increase in energy demand. Proven reserves
of gas, oil and coal far exceed the cumulative amounts of that will be consumed and more
reserves will be added during that time. But developing these resources and ensuring that
demand is met will require a huge amount of investment at every point in the energy
supply chain. If the investment is not forthcoming or is delayed, then shortages, price
increases and price volatility may impede economic growth in developed and developing
countries alike.

Increasing interdependence should be matched by increasing cooperation between
producing and consuming countries. There will be a pronounced shift in the
geographical sources of incremental oil and natural gas supplies over the next several
decades and energy demand growth will be increasingly concentrated in the developing
countries. International trade in primary energy will necessarily have to expand to
accommodate the growing mismatch between the location of demand and that of
production. As energy markets become increasingly global, integrated and interdependent,
enhanced policy dialogue between the governments of importing and exporting countries
will be essential in addressing energy security risks over the long-term. For all countries,
there is a vital common interest between producers and consumers and between rich and
poor countries, in ensuring sustainable supply of the energy needed for a growing global

Oil price increases and volatility impact severely on the poorest countries. The
attention directed towards the issue of energy security by the international community has
been greatly heightened by the increase of oil prices to record levels in nominal terms
since 2002 which has contributed to high volatility and rising energy prices overall (Fig
3). Rising and volatile energy prices pose a risk to the world economy and to all
countries, but the poorer oil importing countries are the least able to cope with increased
prices. The increase in the oil bill has been particularly severe for a number of countries
that combine high energy intensities with a heavy reliance on imported oil as the main
source of energy. For these countries, even the relatively modest hike in oil prices
between 2003 and 2004 (data for 2005 are not yet available) has implied increases in
their oil bills of between 1.5 and 5 percent of GDP. Extrapolating from this for 2005
implies hikes of more than 3 percent of GDP and perhaps as high as 10 percent in some

                        Fig. 3. Crude Oil Prices (Brent) 2002-2005 ($/bbl)

       Source: Platts

3. Energy and Poverty Reduction
Energy and the MDGs. Modern energy services that provide lighting, cooking, heating,
refrigeration, transportation, motive power and electronic communications are
indispensable to increasing productivity, creating enterprises, employment and incomes,
and accessing safe water and sanitation, as well as health and education. Energy must
play a more prominent role in strategies to achieve the eight Millennium Development
Goals (MDGs) – which range from halving extreme poverty to halting the spread of
HIV/AIDS and providing universal primary education, all by the target date of 2015 –
that are the agreed basis of poverty reduction actions by all the world’s countries and all
the world’s leading development institutions.

Some glaring statistics (Box 1) illustrate the scale of energy deprivation faced by the poor.
Without access to modern energy services, the poor are deprived of opportunities for
economic development and improved living standards.

                                        Box 1. Energy and the Poor – Fact Sheet
         1.6 billion people lack access to network electricity. In the absence of vigorous new policies, 1.4 billion people will
         still lack electricity access in 2030 – only 200 million fewer than today

         4 out of 5 people without electricity live in rural areas of the developing world, mainly in South Asia and sub-
         Saharan Africa

         2.4 billion people rely on traditional biomass – wood, agricultural residues and dung – for cooking and heating.
         This will increase to 2.6 billion by 2030 without change in policies

         Poor people in developing countries spend up to a quarter of their cash income on energy

         As of 2004, the richest 20% of the world’s population consume 58% of total energy, whereas the poorest 20%
         consume less than 4%

         The world’s billion poorest people use only 0.2 tons of oil-equivalent energy per capita annually, while the billion
         richest—those earning on average over US$20,000 a year—use nearly 25 times as much

         High transaction and unit investment costs constrain electricity service provision in rural areas because of low
         demand and dispersed populations. The cost of connections can range from $400 to $1,000 for households that may
         only consume $4 of electricity per month
         1.6 million women and children die prematurely from indoor air pollution caused by burning solid fuels in poorly
         ventilated spaces. 40 new million new cases of chronic bronchitis are caused by exposure to soot and smoke every
         Low grade fuels and poor environmental controls in transport and industry are a leading cause of severe urban air
         pollution in the fast growing cities of developing countries. More than 80% of all deaths in developing countries
         attributable to air pollution-induced lung infections are among children under 5.

A range of pro-poor energy policies are available to policy makers. There are many
options for improving the poverty reduction focus of current energy policies. These
policies would span not only the provision of electricity but all basic energy services in
urban and rural areas – safe and clean fuels for cooking, heating, mechanical power, and
transport; electricity for household lighting, and power for social services and productive
uses. Among the more important pro-poor policy options to consider are the following:
       Establish effective regulatory frameworks and policies for rural and off-grid areas
       for various types of providers of energy services. These regulatory frameworks
       would stimulate local community participation; remove barriers and develop the
       roles of local entrepreneurs in providing energy services under new business
       models; and mobilize women’s groups to find location specific solutions for
       meeting energy needs.
       Formulate policies to provide energy services to the poor in close co-operation
       with electricity service providers, such as establishing power distribution entities

       that have viable mixes of urban and rural power markets, and including public
       service obligations when granting concessions.
       Focus subsidies on the ‘public good’ component of energy services, using transfer
       mechanisms that are targeted, predictable and transparent to benefit the poor,
       whilst ensuring full funding of these subsidies. Charge prices for energy supply
       and services – supported by regulatory and tax policies – that remove distortions
       favoring forms of energy or energy technologies in energy markets, by taking
       account of both economic and environmental costs and benefits.
       Design and implement grid and off-grid renewable energy programs; programs
       for sustainable use of biomass resources; and new efficient technological
       standards aimed at promoting the use of cleaner cooking fuels for the poor and
       cleaner energy for heating, cooling, industrial processes and power generation.
       A strengthened focus on household energy, particularly the sustainable production
       and use of biomass requires special attention since this is often the only fuel
       available to the extremely poor.
       Urban power distribution companies can be supported in the formulation of
       policies targeting the poor. Governance structures should give a voice to those
       concerned, including poor consumers and the poor who lack any modern energy
Country-specific energy strategies to help achieve the MDGs will be vital. It is also
important to work “up-stream” for example by supporting evaluations of energy-poverty
linkages in country poverty assessments so that long term national energy poverty
reduction strategies incorporate energy strategies and plans. In this regard it is important
to link actions in the energy sector with complementary activities in other areas (finance,
institution building) and sectors such as agriculture, health, education, and enterprise

International ODA and IFI support for energy programs will continue to be critical.
Often this support will be best applied when it leverages the complementary roles of
public and private investments (both local and international) and when it facilitates the
comparative strengths of different stakeholders to manage different risks through
public/private partnerships in a coordinated effort to expand energy services to the poor.
Mobilizing and coordinating long-term commitments from development partners to scale
up energy investments, transfer knowledge and deploy financing instruments for
leveraging private capital and resources, particularly for countries with the largest
concentration of the energy poor such as those in Sub-Saharan Africa and South Asia will
be key.

4. Energy and the Environment

The links between energy and the environment are many and profound and the
impacts are both at the local and global levels. The increased supply and use of energy
has environmental impacts both locally in the form of pollution from cooking fires inside

dwellings as well as urban air pollution and globally, through massive increases in
emissions of greenhouse gases. Greater use of fossil fuels means increased emissions of
carbon dioxide (CO2) the main Greenhouse gas (GHG). However, it is high levels of
exposure to the by-products of fuel combustion, particularly dust and soot, that is the
more immediate problem for human health in many developing countries. These local
pollutants directly affect the health, life expectancy, and quality of life of anyone who is
exposed to them at moderate or high levels.

4.1 Climate Change

Climate change is a serious and urgent issue. The climate is already changing, and we are
already seeing significant impacts. The global mean surface temperature has increased by about
0.6 degrees Celsius over the last 100 years, and is projected to increase by a further 1.4 to 5.8
degrees Celsius by 2100. The spatial and temporal patterns of precipitation have already changed,
sea levels have already risen 1 0-25 centimeters during the last 100 years, glaciers are retreating
world-wide and the thickness of sea ice in the Arctic has decreased.

The governments of the world face today possibly one of the greatest challenge of the new
millennium: how to fulfill the promise of economic growth for the prosperity of all while
preventing that growth from irreversibly changing the planet’s climate. In fact, the two are
irrevocably linked: sustaining global prosperity becomes increasingly difficult with a climate that
continues to become warmer and more unstable. But economies cannot grow without increasing
energy consumption; and today energy generation is primarily dependent on carbon-emitting
fuels that result in global warming. The way that energy and environmental challenges are
addressed in the next two decades will, to a large degree, determine sustainable growth,
environmental quality, and national security.

The main driver of the increase in GHGs is the rise in carbon dioxide from the
burning of fossil fuels. The main sources of GHGs, in order of global importance are
electricity generation, land-use changes (particularly deforestation) agriculture and
transport. Climate change, poses issues for the continued growth in use of fossil fuels that
for more than 200 years have been the most convenient and cost effective fuels for
modern economic development – and are likely to continue to have cost advantages
(excluding any consideration of possible externalities) in some important uses for a long
period to come. As the impact of climate change disproportionately affects the health and
well-being of the poor, this agenda is of a global issue of mainstream importance to the
poverty-reduction and economic development agenda.

The current pathway of GHG emissions is unsustainable. Energy use, agriculture and
deforestation in developed countries has to date largely driven increases in greenhouse
gas emissions but much of the future growth in emissions will be in developing countries.
Forecasts of increases in energy use under a Business As Usual scenario which assumes
the continuation of historical trends into the future and that the structure of the global
energy system remains unchanged would see world primary energy demand expand by
almost 60% from 2002 to 2030, an average increase of 1.7% per year. Some countries

are taking measures to promote clean energy development including the development of
non-carbon technologies but it is clear that we will have to go far beyond the kind of
actions currently underway if greenhouse gases are to stabilized at an acceptable level.

Collective and sustained collective action will be required. An effective response to
climate change based on international understanding that its causes and potential impact
require collective action.

4.2 Air Pollution and Its Impacts

Air pollution from energy use is a global public health hazard. Most industrialized
countries-which used to have high levels of urban air pollution have managed to clean the
air in their cities, despite high per capita energy use. However in developing countries
local air pollution is an immense problem. Exposure to smoke and soot has been
estimated to cause as many as 4 million premature deaths each year, 40 million new cases
of chronic bronchitis, and widespread cases of other respiratory illness. Particles less than
10 microns in diameter cause cardiovascular disease, chronic bronchitis, and upper and
lower respiratory tract infections. Significantly, poor children are disproportionately
affected because of their exposure to dirty cooking fuels. Pollution by small particles is
particularly harmful.

Lead exposure from use of leaded gasoline is another global public health hazard.
Lead is one of the most toxic substances that large populations around the world are
exposed to from the exhaust gases of vehicles and other sources. It is a treacherous
poison: at lower levels of exposure, no obvious symptoms may occur, but children
exposed to lead become less able to learn and build social contacts, becoming
disadvantaged during their life. The use of lead additives in gasoline has been one of the
main sources of exposing urban populations to lead.

Ecosystems are also affected by pollution form energy use. As well as harming human
health, air pollution damages ecological systems. Emissions of SO2 and NOX, react with
other chemicals in the atmosphere to form sulfuric and nitric acid, falling back to the
earth mixed with rain. This acid rain-which sometimes falls thousands of kilometers from
the original source of pollution-has been found to damage crops, forests, rivers, and lakes.
Air pollution likewise has a detrimental effect on agricultural production.

National actions to reduce local pollution. In addressing local pollution the first step is
to capture the win-win opportunities that, through economically attractive solutions,
provide environmental benefits at no additional cost. These opportunities include, at the
very least, energy sector reform and restructuring; energy-efficiency improvements, both
on the supply and on the demand side; and a switch to less polluting energy sources.
Energy sector reform that introduces competition between alternative energy forms and
suppliers and that allows market prices give the right signals to producers and consumers
alike, promotes the shift from polluting to clean energy use. Reducing local air pollution
beyond the level of win-win implies additional cost. Usually the financial cost of
abatement (e.g. for emission standards in power generation) is small compared to the

value of the health and environmental damage that can be avoided. It is therefore
important for policy makers to factor in these externalities. However, when moving
beyond win-win measures, careful analysis of relative costs and benefits of alternative
policies is essential in helping countries pursue a least-cost path.

Scope for international action in addressing local environmental impact of energy
use. Although dealing with local air pollution that does not have trans-boundary impact
is largely a matter for national-level activities, there is still considerable scope for
international action. Lead phase out from gasoline is an example. The adoption of
harmonized regional specifications for transport fuels and pricing is desirable, as it helps
eliminate the occurrence of fuel smuggling and fuel adulteration. Furthermore one of the
critical factors inherent in achieving the regional lead phase out is the timing of the
promulgation of revised fuel quality specifications by governments. Regional agreement
on the timing permits oil companies (that supply regional markets) make informed
investment decisions on refinery reconfiguration.

5. Investment
Converting the world’s resources into available supplies will require massive
investments. According to the IEA meeting projected demand will entail cumulative
investment of some $16 trillion from 2003 to 2030, or $568 billion per year. The
electricity sector will absorb the majority of this investment. Developing countries, where
production and demand are set to increase most, will require about half of global energy
investment. Those countries will face the biggest challenge in raising finance, because
their needs are larger relative to the size of their economies and because the investment
risks are bigger. The global financial system has the capacity to fund the required
investments, but it will not do so unless conditions are right.

The power sector in developing countries will account for more than half of global
investment through 2030. World electricity demand is projected to double between
2000 and 2030, growing at an annual rate of 2.4% To meet the expected growth in
electricity demand through 2030, cumulative investment of $10 trillion in power-sector
infrastructure will be needed — equivalent to 60% of total energy-sector investment. The
power sector in developing countries will require more than half of the global investment,
exceeding $5 trillion.

There is scope to reduce the barriers to investment in the power sector in developing
countries. Governments in developing countries cannot themselves finance investments
of the magnitude required. They will increasingly have to rely on domestic and
international capital markets. However many developing countries still face significant
barriers to investment. While most of these barriers affect the investment climate in the
country as a whole others are power sector specific. A survey carried out by the World
Bank in 2000 concluded that the most significant barriers to investment in the power
sector in developing countries is weak legal protection for investors, absence of
multilateral guarantees and weak consumer payment discipline. The study pointed to

several priorities for governments seeking to attract and retain international investment in
the power sector. The findings apply equally to attracting domestic private investment.

       Ensure adequate cash flow in the sector. Among the highest priorities identified
       by investors were adequate tariff levels and collection discipline. Investors are
       unlikely to consider an investment if these conditions are not present.

       Maintain the stability and enforceability of laws and contracts. A clear and
       enforceable legal framework is important for investors. They require that the
       “rules of the game” to remain credible and enforceable—not altered at the
       government’s convenience once they have made investment decisions based on
       those rules. A government’s willingness and ability to honor its commitments are

       Improve responsiveness to the needs of investors. Investors identified
       government unresponsiveness to their needs and time frames as the most
       important factor in the failure of investments. And they considered the
       administrative efficiency of a host government one of the top factors in their
       decisions to invest in a country. Completing better preparation of transactions
       before inviting investors to participate can help reduce processing delays and the
       related opportunity costs for investors.

       Minimize government interference. Investors are most satisfied with investment
       experiences when they are free to realize returns from their investments without
       government interference. Where investment experiences were successful,
       investors pointed to their ability to exercise effective operational and management
       control of their investments as a key factor. And when investors consider
       investing in a country, they give much weight to the independence of regulatory
       processes from government interference.

6. Energy Technology Development and Deployment

Achieving a truly sustainable energy system will call for technological
breakthroughs that radically alter how energy is produced and used. These new
forms of energy and associated technologies that may radically transform energy systems
are yet to come into clear view (hydrogen, fuel cells etc). In the meantime, the enhanced
energy technologies that are available today can be fostered by government action so that
they gain market share which in turn will make them more cost effective.

Fossil fuels are expected to remain the backbone of primary energy supply for
several decades unless radical changes occur in the energy spectrum. This
underscores the need for high-performance technologies permitting continued use of
existing fuels and exploitation of new fuels, as well as abatement of greenhouse gas
emissions, particularly in power generation. New and less costly technologies for fossil
fuel use are being developed including CO2 sequestration.

Energy efficiency can help GHG emissions. Energy-efficient technologies in homes
and in the workplace can significantly reduce CO2 emissions from power generation and
dependence on energy imports. Sizeable fuel efficiency gains are within reach in the
transport sector.

Renewable energy has the potential to contribute to sustainable energy development
in several respects.

        Given the forecast massive increase in energy use by 2030 the world must
        become radically less carbon intensive. Essential for this change are significant
        increases in the use of renewable energy and gains in energy efficiency.

        Renewables can also contribute to energy security by broadening the portfolio of
        options for energy resources and for reducing dependence on fuels with
        significant price volatility and availability concerns. For countries that import a
        large share of their primary energy requirement reduced dependence on imported
        fuels improves their balance-of-payments accounts and can free fiscal space for
        other needed spending.

        Renewable energy in power generation solar photovoltaic systems can play a part
        in increasing electricity access especially in areas where cost considerations rule
        out grid extension

Geothermal, hydro and wind account for most of renewable’s share in energy
demand today. Renewable today energy still accounts for only 3% of the world’s total
primary energy demand. Hydropower is the largest renewable source, while “new”
renewables such as solar and wind each accounts for only a small fraction of global
energy demand 2 and under current policies will increase to just 4% by 2030. European
governments currently favor using renewables as a way to reduce CO2 and have national
targets for increasing the use of renewables. Several developing countries such as China
and Brazil also have programs to promote renewables. However new government policies
that push for faster deployment of more efficient and less polluting technologies will be
important to achieve a much bigger share of renewables than the 4% currently forecast in
the future as under present conditions, renewables are, on average, more expensive than
fossil fuels in large grid-connected power generation. More vigorous policies to deploy
renewables in power generation will likely cause their unit costs to fall.

Many developing countries have begun to focus on renewables in rural
electrification. Several renewable energy technologies are potentially the least-cost
option for mini-grid applications. Mini-grid applications are village- and district-level
networks with loads between 5 kW and 500 kW not connected to a national grid. A

  Biomass in some countries is a sustainable renewable energy source but in many countries its use is
unsustainable over the long term. Biomass accounts for 11% of world primary energy demand in 2002

recent economic assessment carried out by the World Bank (Fig 4) indicates that
numerous renewable energy technologies (biomass, biogas, geothermal, wind, and micro-
hydro) are the potential least-cost generation option for mini-grids, assuming a sufficient
renewable energy resource is available. Two biomass technologies – biogas digesters and
biomass gasifiers – seem particularly promising, due to their high capacity factors and
availability in size ranges matched to mini-grid loads. Since so many renewable energy
sources are viable in this size range, mini-grid planners should thoroughly review their
options to make the best selection.

  Fig. 4. Current (2204) and forecast (2015) generating costs 5kW- 500kW (mini-grid)

7. Energy Trade
Trade binds suppliers and customers in mutually beneficial dependence. In many
regions, neighboring countries are seeking to develop energy trade for a number of

           Energy trade can advance regional economic integration. Regional power
           trade helps build institutions and relationships that, as part of a wider network
           of institutions, can help integrate a region economically and politically. Joint

           energy project development can help build closer ties between countries
           through closer collaboration and increased economic inter-dependence.

           Trade can underpin energy security. Trade can increase reliability of energy
           supply by making lower cost supplies in neighboring countries available
           Cross-border energy supply often also provides greatly enhanced
           diversification of energy sources - a key component of energy security. Stable
           long term agreements between countries are necessary for trade to flourish.

           Many national markets, especially in Africa, are too small to justify the
           investment needed to develop particular energy supply opportunities. Joining
           national markets can provide the economies of scale to overcome this. As
           markets mature and competition is introduced, the integration of small
           neighboring markets can provide the scale necessary for competition to be

Interconnection of contiguous power networks can capture significant economies of
scale. The price of electricity generation in grid-based systems varies enormously from
one country to the other, depending on the availability of hydroelectric resources, the cost
of fuel, and many other factors. Significant benefits can be achieved through
interconnecting electricity transmission networks and integrating power system
operations. In a regionally integrated power system, the direct benefits accruing to each
power sector include reduced operating costs, increased efficiency, lower energy costs
and increased system reliability. In an interconnected network, operating costs are lower
due to development of the least-cost regional energy resources. In addition, a large
capacity energy resource that requires additional infrastructure costs for transmitting the
power can be justified to serve a larger regional demand that would otherwise be too
large to meet national demand. Through aggregating national demand of contiguous
systems, regional integration creates sufficient demand to justify large investments that
would otherwise not be economically feasible at a purely national level.

                          World Bank Global Issues Seminar Series

                             Towards a Sustainable Energy Future

                                                Reading List
Fuel for thought : an environmental strategy for the energy sector. World Bank, 2000

Stern Review on the Economics of Climate Change; HM Treasury, UK, 2006

The Impact of Higher Oil Prices on Low Income Countries and on the Poor, ESMAP,
World Bank, 2005

World Energy Outlook, International Energy Agency, Paris, 2005

Energy and Poverty: Myths, Links, and Policy Issues, Jamal Saghir, Energy Working Note
No 4, World Bank, 2005

Renewable Energy for Development. World Bank Website,,contentMDK:20708340~pagePK:210058~piPK:2

The Energy Challenge for Achieving the Millennium Development Goals, United Nations,

Sustainable Power Sector Reform in Emerging Markets - Financial Issues and Options
Joint World Bank/USAID Policy Paper Deloitte Touche Tomatsu, 2004

What International Investors Look For When Investing In Developing Countries. Results
from a Survey of International Investors in the Power Sector. Discussion Paper No. 6,
Ranjit Lamech and Kazim Saeed. World Bank 2003.,,contentMDK:20644382~pagePK:210058~piPK:2

Mobilising Energy Technology – International Energy Agency, 2005

Technical and Economic Assessment: Off Grid, Mini-Grid and Grid Electrification
Technologies, Discussion Paper, Energy Unit, Energy and Water Department, The World
Bank, November 2005,,contentMDK:20796696~pagePK:210082~piPK:2


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