Africa: $100 million available for Renewable Energy

hydro, wind, solar, geothermal, biomass and waste gas

New energy projects from hydro, wind, solar, geothermal, biomass and waste gas

AREF renewable energy fund

Africa launches a renewable energy fund to develop projects across sub-Sahara. 100 million dollars has already been resiled for the African Renewable Energy Fund and will probably be doubled. 

The money will support small and medium-sized independent power producers with grid-tied projects of 5-50 megawatts in size: small hydro, wind, solar, geothermal, biomass and waste gas.

The African Development Bank is the Fund’s leas sponsor, contributing $65 million. The investor group also includes Ecowas Bank for Investment and Development (EBID), Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO), Calvert Foundation, Berkeley Energy and The African Biofuel and Renewable Energy Company (ABREC), who are the vision-bearers of the fund.

sub-sahara climate-Africa

sub-sahara climate-Africa

Owned by 15 African Nations and five financial institutions, ABREC is a company specialized in developing, managing and advising public and private sector renewable energy and energy efficiency initiatives and projects.

Power shortage

Fifty percent of Africa is rural with no access to electricity. Africa generates 47 GW of electricity, less than 0.6% of the global market share. Many countries are affected by power shortages. Sub-Saharan Africa is expected to build additional hydropower generation capacity of at least 20,165 MW by 2014. The region has the potential to generate 1,750 TWh of energy, of which only 7% has been explored (source WIKI). Read more about the Sub-Sahara Climate zones.

 

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3 Responses to Africa: $100 million available for Renewable Energy

  1. Rhollent Kumwenda says:

    That’s quite good, hoping to benefit from this and spread biogas technology in all regions of Malawi for off-grid energy communities to appreciate and enjoy the technology.

  2. There are so many types of most efficient technology of renewable energy, it is high time to get things moving and use up no more fossil-fuels full of pollution. Why not using CSP/PVT multi-application technique, these will give you all you will ever need such as: Desalination/Water Treatment, Air Conditioning, Heating/ Steam Application for Food/Textile Processing, ORC-Turbines for Electricity and many more options for residential and industrial use throughout.
    How about that? Ask us: “greenforce.pro” ´having made a difference all over – we are leading – the others will follow. Thank you for caring for nature!

  3. KIZITO RICHARD says:

    Thanks for this wonderful promise for African energy poor.
    We have heard a handful of similar projects here in Africa, who is there to monitor the benefits gained by the energy poor Africans, lets don’t get excited with good writers but we need a strong arm to monitor these promising verses.

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