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Friday, 11 December 2015

$10bn for Africa’s green power

The French government and nine other partners on Tuesday renewed commitment to mobilise a cumulative $10 billion between 2015 and 2020 to boost access to energy in Africa. Canada, France, Britain, Germany, Italy, Japan, the United States, Sweden, Netherlands and the European Union (EU) will jointly provide the money which will help developing countries adapt to global warming and build renewable energy sources. Germany is contributing $3.3 billion, while France, the US, Britain, Canada, Japan, Italy, Sweden, Netherlands and the EU Commission would contribute the remaining $6.7 billion. The announcement was made during the ongoing climate talks at the 21st Conference of Parties (COP) to United Nations Framework Convention on Climate Change (UNFCCC). The Africa Renewable Energy Initiative aims to achieve at least 10 GW of new and additional renewable energy generation capacity by 2020 which would be sufficient to generate at least 300 GW by 2030. The partners said they supported Africa's leadership and would work closely with African partners to bridge the access gap and develop renewable energy potential in the region. The partners said: “In this context, we welcome the Africa Renewable Energy Initiative as a transformative, Africa-owned and led inclusive effort to accelerate and scale-up the harnessing of the continent's renewable energy potential.

Source: IOL