The African continent’s renewable energies potential is estimated at 310 Giga-Watts (GW), an expert from the African Development Bank (AfDB) said on Tuesday in Dakar, Senegal. As a reminder, The AfDB SEFA is a multi-donor trust fund anchored in a commitment of $95 million to support small-and medium-scale Renewable Energy (RE) and Energy Efficiency (EE) projects in Africa. The African Development Bank’s energy strategy identifies energy as crucial not only for the attainment of health and education outcomes, but also for industrialization, reducing the cost of doing business, unlocking economic potential and creating jobs. Last week, the bank’s Board of Directors approved an equity investment of up to $25 million in ARCH Africa Renewable Power Fund (ARPF), a $250 million private equity fund for renewable energy projects across Sub-Saharan Africa. ARPF will provide equity for the development and construction of 10 to 15 greenfield renewable energy projects in Sub-Saharan Africa, adding approximately 533MW of installed energy generation capacity from renewable sources in the region.

Source: The North Africa Journal January 30, 2019 13:07 UTC