The European Commission‘s electrification financing initiative, ElectriFI, has made its first investment of US$2.5 million in clean energy micro-utility Sigora Haiti, supplying households, schools and small firms with electricity. ElectriFI received 290 proposals in response to its first call for investment in April 2016 before passing management of the €75 million fund on to the Association of European Development Finance Institutions (EDFI) and its new EDFI Management Company (EDFIMC). “Our goal is to grow ElectriFI this year. Next year, we hope to launch AgriFI. With that experience, we can think about health, education and water funds. Some people say it is impossible to find these projects but once you get out of the capital cities you will find there is lots of private and commercial activity going on already,” Frederik van den Bosch, managing director of the EDFI Management Company (EDFIMC), told Development Finance.

In Conakry, Guinea, EU International Cooperation and Development Commissioner Neven Mimica announced on March 4 the preparation of 19 new renewable energy projects, with a total potential investment of €4.8 billion. This was done during the second Board of Directors meeting of the Africa Renewable Energy Initiative (AREI), an Africa-owned and Africa-led initiative of the African Union. AREI was launched at COP21 in Paris in December 2015 and is receiving strong international support from development partners.

The Minister of Finance, Trade and Blue Economy, Américo Ramos, of the Democratic Republic of São Tomé and Príncipe, has officially announced the Power Sector Recovery Project, which aims to reform the energy sector in the country. The project includes the rehabilitation and expansion of the Contador Hydroelectric project and strengthening of the national utility Empresa de Agua e Electricidade de São Tomé e Príncipe (EMAE). The Minister indicated that “this occasion marks the partnership of the World Bank and the European Investment Bank with the Government of São Tomé and Príncipe, to assist in the recovery of the energy sector, to increase the generation of electricity with renewable resources, and to improve the reliability of the electricity supply, with a shared vision of sustainable energy supply for all, respectful of the environment.”

East African states have been asked to invest more resources in the development of renewable power projects like solar energy where the region has a better comparative advantage as compared to Hydropower which is more expensive to finance. Development partners say the climate conditions in some countries within the community such as Uganda supports the development of solar power but the country has not yet exploited such opportunities which have kept Uganda depending too much on Hydropower and biomass as sources of Energy. Speaking during the commissioning of the US$ 19 million solar photovoltaic project in Soroti, Eastern Uganda, the Head of European Union delegation in Uganda Ambassador Kristain Schmidt said Uganda is conducive for solar power development because of the climatic conditions and the regulatory framework.

Despite the current economic hardships in Europe, the Western donors have continued to provide development aid to Uganda, with Germany and France providing 110 million Euros (Shs417b) for electricity project in western Uganda to foster national development. Muzizi hydropower Project (HPP) is being developed at the lower course of the Muzizi River, south east of Lake Albert located in Kibaale District, western Uganda. However, government officials say the project footprint will extend to districts of Kabarole, Kyenjojo and Ntoroko.

The Council recalls its conclusions of 20 July 2015 on EU Energy Diplomacy which underlined the need to ensure coherence between EU foreign and energy policies. The Council further recalls the Energy Union strategy and calls for Europe to become the world leader in renewable energy, including research, innovation and technologies. The Council underlines that the EU's development policy and actions in the energy sector are a fundamental part of a revitalised European energy and climate diplomacy.

The European Investment Bank or EIB has listed renewable energy, water and livestock projects as some of the sectors of the Namibian economy that it is interested in funding. Vice president Pim van Ballekom told The Namibian that his visit to Namibia this week was to explore more investment opportunities. Van Ballekom held meetings with President Hage Geingob, finance minister Calle Schlettwein and officials of NamPower and Namibia Breweries. He said the bank's lending rates are favourable since the bank is not expected to pay dividends to the 28 members of the European Union, who are its shareholders.

The EU-Caribbean Sustainable Energy Conference, a joint event between the EU and CARIFORUM, held on 10/11 October in Barbados, was a remarkable success. It brought together over 300 participants, including eight Prime Ministers and Ministers, from more than 50 countries. The conference reflects the commitment of the EU to support the Caribbean to achieve their part of the Paris Agreement on Climate Change and the Sustainable Development Goals (SDGs).

The European Investment Bank (EIB) is to loan $100m to the Dominican Republic to help improve the country’s electricity supply and distribution, as part of a wider cooperation agreement on renewables between the EU and the Caribbean region. The European Commission will also grant €9.3m through the Caribbean Investment Facility to the Dominican project, which aims to improve the availability of power supply for over 680,000 households in the country. The project will support the reduction of several illegal power lines that are a danger to public health as well as a waste of electricity. In addition, it will also contribute to improving the business efficiency of electricity distribution companies.

Yesterday’s start of the inaugural European Union-CARIFORUM Sustainable Energy Conference set the backdrop for a deepening of cooperation between the European Union (EU) and the Caribbean region.Speaking at the commencement of the two-day conference taking place at the Lloyd Erskine Sandiford Centre, the EU Ambassador to Barbados, the Eastern Caribbean States, OCES and CARICOM/CARIFORUM, Daniela Tramacere said the conference also represents a unique opportunity to push forward the agenda for the Caribbean’s full transition to a renewable, efficient and modern energy service, with a structure that has an enduring capability.