Business

AfDB plots energy sector growth

TRYNESS TEMBO, Lusaka
THE African Development Bank (AfDB) has approved US$25 million from the Sustainable Energy Fund for Africa (SEFA) and the Clean Technology Fund (CTF) to advance African Renewable Energy Fund (AREF) II projects to boost low-carbon energy generation in sub-Saharan Africa.
Of the total US$25 million, US$15 million will go towards SEFA and US$10 million to CTF.
AfDB vice-president for power, energy, climate and green growth, Kevin Kariuki, said in a statement on Tuesday that financing will help small- and medium-sized producers to add about 800 megawatts of hydro, solar and wind power and battery storage in countries across sub-Saharan Africa.
Dr Kariuki said capitalising the fund’s catalytic tranche is expected to attract critical private investment at a time of investment uncertainty and economic disruption owing to the COVID-19 and to ensure capital flows to support the delivery of sustainable power infrastructure to meet the CLICK TO READ MORE




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