The World Bank will disburse the two, $250m financing tranches this year and in second half 2017, respectively. The money will go to the government’s renewable energy trust fund FODER to guarantee the 20-year, US dollar-denominated PPAs.

The government will match that amount, which it will also use to help finance projects.

Initial plans call for the government to contract 500MW of wind, 300MW of PV, 65MW of biomass, 20MW of small hydro and 15MW of waste-to-energy.

Each