European Commission pledges €300 million to develop cleantech projects in Africa

Image: IIP photo archive - Flickr
Image: IIP photo archive - Flickr

The European Commission is investing €300 million to develop 19 new renewable energy projects across Africa.

The European Union is significantly ramping up investment to support the development of new renewable energy in Africa, reports CleanTechnica.

Investment focus

The commission told the Daily Planet that when fully developed, the projects are expected to add 1.8 gigawatts of renewable power generation to the continent.

The majority of investment will focus on solar, hydro and geothermal energy in Guinea, Nigeria, Benin, Niger, Chad, Rwanda, Ethiopia, Tanzania, and also at a regional level in Central Africa and on Indian Ocean Islands.

The Africa Renewable Energy Initiative

The European Commission is making the investment as part of the Africa Renewable Energy Initiative (AREI), a consortium of six multilateral partners and development agencies.

It launched at COP21 in Paris in December 2015 and is receiving international support from development partners to reach a 2020 target of 10 gigawatts.

A number of the projects will address market failures and inefficiencies in the development and finance of renewables. Others will focus on developing electricity interconnectors and distribution.

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