African Development Bank Group
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ENERGY
African Development Bank backs $11.3M mini-grid facility across 14 African countries
The African Development Bank Group has approved $5.65 million to support an $11.3 million financing facility designed to expand renewable-energy mini-grids across 14 fragile and energy poor African countries. The Sustainable Energy Fund for Africa (SEFA) grant will be matched by the Nordic Development Fund, creating the Peace Renewable Energy Certificate (P-REC) Aggregation Facility. The initiative will use revenues from…
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NEWS
Ethiopia Secures $110 million AfDB Financing for 300MW Aysha Wind Power
Ethiopia has obtained up to $110 million funding from the African Development Bank Group for the development of the 300MW Aysha Power Project, a renewable energy initiative expected to become the country’s largest wind power facility upon completion. The investment marks a significant step in Ethiopia’s strategy to expand clean energy generation, strengthen electricity supply and diversify its power mix.…
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ENERGY
New $11.3 Million Facility to Bring Clean Energy to Nearly a Million People in Africa’s Conflict Zones
The African Development Bank Group has approved a $5.65 million grant to pilot a first-of-its-kind financing mechanism designed to solve one of clean energy’s most stubborn problems: getting capital into places where commercial lenders won’t go. The Peace Renewable Energy Certificate (P-REC) Aggregation Facility, co-financed with an equivalent contribution from the Nordic Development Fund, will direct a combined $11.3 million…
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