COP21 to fund 240 renewable energy projects in Africa

September 26 (SeeNews) - Segolene Royal, president of COP21, last week presented a list of 240 renewable energy projects in Africa which will receive funding under the Africa Renewable Energy Initiative.

The list, representing a capacity of about 45 GW of renewable power, includes 62 solar energy projects with a combined capacity of 6 GW, 16 projects for a total of 5 GW of wind energy, 13 projects or 7 GW of geothermal energy, 58 hydroelectricity projects  (20 GW), 35 projects combining more than one technology (1 GW ) and 4 national strategies for adding 8 GW solar and wind energy.

Since the Paris Climate Conference last year, donors have already released EUR 4.5 billion (USD 5.05 bn), helping to build a capacity of 5.7 GW of renewable energy, the French energy minister said at the meeting of African heads of state on the Africa Renewable Energy Initiative in New York last Tuesday.

Launched by African heads of state on December 1, 2015, the Africa Renewable Energy Initiative aims to increase the continent’s installed capacity of renewable energy by 10 GW over the period 2016 - 2020, reaching 300 GW by 2030. During COP21, 10 donors pledged to release USD 10 billion (including EUR 2 billion from France) to contribute to the goal of this initiative.

Just last week,  the International Renewable Energy Agency (IRENA) said it has never been "more possible, and less expensive" for Africa to build solar power capacity, as the installed cost for utility-scale parks has fallen to as low as USD 1.30 (EUR 1.16) per watt.

(EUR 1 = USD 1.123)

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Browse all articles from Mariyana Yaneva

Mariyana is a founding member of the Renewables Now team. With nine years of professional experience in renewables she has built strong expertise in the wind industry and French-speaking markets.

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