The World Bank Group has pledged $1 billion for a global program that accelerates investments in battery storage for energy systems in developing and middle-income countries.

The program would boost renewable sources of energy — from wind and solar power — to improve security, increase grid stability and expand access to electricity. World Bank Group would finance 17.5 gigawatt hours (GWh) of battery storage by 2025, which would more than triple the 4 to 5 GWh currently installed in all developing countries.

“For developing countries, this can be a game changer,” said Jim Yong Kim, president of the World Bank Group. “Battery storage can help countries leapfrog to the next generation of power generation technology, expand energy access, and set the stage for much cleaner, more stable energy systems.”

The program will aim to finance and de-risk investments such as utility-scale solar parks with battery storage, off-grid systems and stand-alone batteries that can help stabilize and strengthen grids. It will also investigate new storage technologies suitable for developing countries including long-lasting batteries that are resilient to harsh conditions and high temperatures that also minimize environmental risks.

The $1 billion will come from the World Bank Group’s own funds, and the organization will fundraise another $1 billion in concessional climate funds through channels such as the Climate Investment Funds’ Clean Technology Fund (CTF). The program is expected to raise another $3 billion from public and private funds and investors.