M a r k e t N e w s

AREI receives US$10bn from several countries that pledge Clean Energy

Posted on : Friday, 11th December 2015

 The Africa Renewable Energy Initiative (AREI) is being supported significantly by several countries that have pledged around US$10bn for clean energy projects in Africa 

cleanenergy ArtemyoLagalag flickrThe goal of AREI is to supply atleast 300GW of power by 2030 to the African continent, through clean energy sources. At COP21 held in France, G7 countries Germany, France, Canada, Italy, Japan, United Kingdom and USA along with the European Union and Sweden pledged the amount towards the upliftment of Africa’s clean energy generation plans. Particularly, Germany will contribute US$3.25bn, France US$2.2bn, Sweden US$500mn and Canada US$81mn. With around US$600mn people lacking proper access to electricity in Africa, the AREI is keen to aid sustainable development and enhanced well-being by providing access to clean and affordable energy in the continent. African Development Bank president Akinwumi Ayodeji Adesina said, “Africa is tired of being in the dark. The lack of electricity has put the brakes on Africa’s industrialisation. Through the AREI, we can sustain fast economic growth in Africa and on a low carbon development pathway.” The AREI plans to mobilise Africa’s large expanse of clean energy sources to generate around 300GW by 2030. United Nations Environment Programme (UNEP) executive director Achim Steiner said, “Africa’s renewable energy revolution will ensure access to clean, reliable and efficient energy, while ensuring we do not add to the greenhouse gas emissions we are gathered here in Paris to reduce. The AREI aims to do just that. Such leadership from Africa, and the financial backing from the international community announced today, provides fresh hope that we can tackle the twin challenges of sustainable development and climate change.”

Source : africanreview.com
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