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UK & UN Green Climate Fund committing to invest in Renewable Energy schemes in Africa

Press/Media: TV Interview/Appearance

Description

  • UK £11.6 billion climate-funding pledge made at COP26: not to be reneged upon by current govt after all.
  • UK  matching the Green Climate Fund's $50 million equity contribution to the Renewable Energy Performance Platform 2 (REPP 2). 
    The plan is for debt co-investors to grow the fund's size to $250 million. 
  • REPP 2 will fund small-scale (<25MW) renewable power projects in 9 sub-Saharan Africa
    • 50% will fund micro-grids and remote grids
    • 40% will fund solar PV, hydroelectric, and wind energy projects
    • 10% will fund off-grid solar PV projects
  • Cameroon, DRC (the), Lesotho, Madagascar, Malawi, Niger (the), Nigeria, Sierra Leone, Zambia
Period17/11/2023
  • UK £11.6 billion climate-funding pledge made at COP26: not to be reneged upon by current govt after all.
  • UK  matching the Green Climate Fund's $50 million equity contribution to the Renewable Energy Performance Platform 2 (REPP 2). 
    The plan is for debt co-investors to grow the fund's size to $250 million. 
  • REPP 2 will fund small-scale (<25MW) renewable power projects in 9 sub-Saharan Africa
    • 50% will fund micro-grids and remote grids
    • 40% will fund solar PV, hydroelectric, and wind energy projects
    • 10% will fund off-grid solar PV projects
  • Cameroon, DRC (the), Lesotho, Madagascar, Malawi, Niger (the), Nigeria, Sierra Leone, Zambia

References

TitleUK & UN Green Climate Fund committing to invest in Renewable Energy schemes in Africa
Media name/outletAsharq Business News with Bloomberg
Country/TerritoryUnited Arab Emirates
Date17/11/23
DescriptionUK £11.6 billion climate-funding pledge made at COP26: not to be reneged upon by current govt after all.
UK matching the Green Climate Fund's $50 million equity contribution to the Renewable Energy Performance Platform 2 (REPP 2).
The plan is for debt co-investors to grow the fund's size to $250 million.
REPP 2 will fund small-scale (<25MW) renewable power projects in 9 sub-Saharan Africa
50% will fund micro-grids and remote grids
40% will fund solar PV, hydroelectric, and wind energy projects
10% will fund off-grid solar PV projects
Cameroon, DRC (the), Lesotho, Madagascar, Malawi, Niger (the), Nigeria, Sierra Leone, Zambia
PersonsKim Kaivanto