Four new EU-funded renewable energy projects worth EUR 100 million adopted in New York

The Africa Renewable Energy Initiative (AREI) Board held its tenth meeting on 23 September, in the margins of the UNGA in New York. The Board adopted several new projects, four of which are EU-funded and worth EUR 100 million in all.

These four projects will develop renewable energy infrastructure in Tanzania, Zambia, Côte d’Ivoire, Kenya, Namibia and Nigeria. They bring the total EU contribution to AREI to around EUR 1.1 billion, across 78 projects. This means that the EU has already provided more than two-thirds of its financial commitment to AREI (EUR 1.5 billion by 2020) and is well on track to meet its goal for additional generation capacity (5 GW by 2020).

AREI is an Africa-owned and Africa-led initiative to speed up and scale up efforts to harness the continent’s huge renewable energy potential. It is set to achieve at least 10 GW in new and additional renewable energy generation capacity by 2020, and mobilise Africa’s potential to establish at least 300 GW of new generation capacity by 2030.

Original source: European Commission
Published on 24 September 2019