The European Union and the French Development Agency (AFD Group) launched the “African Renewable Energy Scale-Up facility”, designed to boost private sector investment in on-grid and off-grid renewable energy production in Africa. The EU’s electrification funding initiative, “ElectriFI”, helps to harness and stimulate private sector investment to enhance access to renewable energy. AFD Group has secured €24 million from the fund to deploy the African Renewable Energy Scale-Up (ARE Scale Up) facility. While priority will be given to solar energy projects, other technologies (biomass, mini-hydro, etc.) This should provide around one million African households with access to energy and add additional renewable energy capacity of 50MW for the Continent as a whole.

Source: News Business Ethiopia March 21, 2017 10:41 UTC