COP24

UK offers additional AGBP100m for renewable energy projects in Africa

Renewable Energy
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Dec 11, 2018 (MarketLine via COMTEX) —

The UK Government has announced an additional funding of AGBP100m for the Renewable Energy Performance Platform (REPP) in Africa, during the COP24 summit in Poland. With this new funding, REPP will be able to support nearly 40 renewable energy projects over the next five years and unlock an additional AGBP156m of private finance into renewable energy markets in Africa by 2023.

The funding will be used to support the developers of small-scale solar, wind, hydropower, and geothermal projects by harnessing each country’s natural resources, and the energy generated from these projects will help in providing 2.4 million people with new or improved access to clean energy.

Previously, the UK committed to offering an investment AGBP48m to the REPP, and the programme is currently supporting 18 renewable energy projects in a range of countries from Tanzania to Burundi.The projects that are being supported under this programme include solar, wind, biomass, hydro, and geothermal technologies, and are expected to provide new or improved access for more than 4.5 million people over the project lifetimes. It will also create 8,000 employment opportunities during development and operation.UK Energy and Clean Growth Minister Claire Perry said: “At home, we’re world leaders in cutting emissions while growing our economy, and abroad we’re showing our international leadership by giving countries a helping hand to shift to greener, cleaner economies.”This AGBP100m will help communities harness the power of their natural resources to provide hundreds of thousands of people with electricity for the first time. Building these clean, reliable sources of energy will also create thousands of quality jobs in these growing green economies.”Additionally, these projects are expected to cut down around 3 million tonnes of carbon emissions during their lifetime, which is equivalent to the emissions from burning 21,000 railway cars of coal, or from 800,000 cars in a year.The funding is said to be part of the UK Government’s commitment to invest AGBP5.8bn in international climate finance by 2020 to encourage other governments, the private sector and communities to address the issue of the climate change.


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