During a side event at COP22 hosted by the Africa Renewable Energy Initiative (AREI), the Executive Director of ECREEE lent his voice to commend the initiative and highlighted the impact such a project will have on the continent considering the energy situation. He stated that ECREEE has been promoting renewable energy since 2013, however more initiatives such as AREI bring promising support to quickly close the energy access gap.
The Africa Renewable Energy Initiative (AREI) aims at enabling the installation of large-scale renewable energy capacity on the African continent by 2030, which would have a considerable impact on the reduction of greenhouse gases emissions in the continent. At least $5 billion in public and highly concessional finance between 2016 and 2020, from bilateral, multilateral and other sources, including the Green Climate Fund, will be needed to leverage a further USD15 billion in other investments, for a total investment of at least USD20 billion pre-2020.
For more information http://www.arei.org/