CLIMATE BRIEF-G7, EU pledge $10 bln to aid Africa’s renewables plan

Dec 7 The group of seven advanced economies (G7) and the 28-member European Union bloc on Monday pledged $10 billion in grants and loans to support a plan for dramatically increasing renewable power in Africa.

African nations led by the continent’s development bank last week launched the African Renewable Energy Initiative which could boost electricity output on a continent where two-thirds of people lack access to power. It aims to generate 300 gigawatt of electricity from renewable sources by 2030.

“One of Africa’s problem is that there is very little available funding for energy,” French Foreign Minister Laurent Fabius said at a signing ceremony during the U.N. climate summit in Paris. Read More…

 

CLIMATE BRIEF-G7, EU pledge $10 bln to aid Africa’s renewables plan

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