The investment is in line with AfDB's efforts to alleviate financing constraints in the renewable energy sector and will contribute to production of 178,5 MW of renewable power for commercial and residential use.
Metier is a well-established fund manager with a track record of deploying more than US$550 million in African countries, including solar, wind and hydro power projects in Southern and East Africa. Metier has been a key player in South African solar power, a maturing technology that offers significant benefits in terms of storage and dispatchability to the grid, unlike traditional photovoltaic options.
In other African renewable energy news , the AfDB has approved a $8.91 million grant drawn from the EU Africa Investment Platform (EU-AIP) to support Ruzizi IV, 287 MW Hydropower Project, to be situated on the Ruzizi River between Rwanda and Congo.
The Ruzizi III, with a projected 147 MW output is under development with Bank support.
(Source: African Dev. Bank, Chronicle, 14 Jan., 2020)
Contact: AfDB, Amadou Hott, VP Power, Energy, Climate and Green Growth, +225 2026 3900, www.afdb.org/en
More Low-Carbon Energy News African Development Bank, Africa Renewable Energy, Renewable Energy,
The Bank's climate finance trajectory has grown from 9 pct in 2016, 28 pct in 2017, and 32 pct in 2018, according to the Afdb.
(Source: African Development Bank, Website, Mar., 2019) Contact: African Developement Bank, +216 7110 3900/71103930, +216 7119 4523 - fax., www.afdb.oeg
More Low-Carbon Energy News African Development Bank , Climate Change,
The companies behind the project are Saudi Arabia's ACWA Power, US-based SolarReserve and state-owned Central Energy Fund of South Africa, which joined the scheme this summer.
The project has a 20-year PPA with South African utility Eskom. (Source: African Development Bank, Dec., 2018) Contact: African Development Bank, www.afdb.org
More Low-Carbon Energy News Eskom, African Development Bank , CSP, Solar,
The funded activities include recovery of 140,000 ha of degraded land; construction of 209 water conveyance infrastructure for agro-pastoral systems and fish farming; leveraging on the livestock and aquaculture compacts of the Technologies for African Agriculture Transformation (TAAT). The program will also touch on implementing 450 agricultural value chain development sub-projects; building climate change adaptation capacity for 1,000,000 households and operationalize a financing mechanism for natural resource management.
The Niger Basin Authority member states include: Benin, Burkina Faso, Cameroun, Cote d'Ivoire, Guinea, Mali, Niger, Nigeria and Chad. (Source: ADB, All Africa, 7 Nov., 2018) Contact: ADB, www.afdb.org/en
More Low-Carbon Energy News Climate Change, African Developement Bank, Climate Change Adaptation,
The tender is being held under the framework of the Zambian REFiT Strategy, an initiative developed with the support of German development bank, KFW.
The REFiT program aims to initially tender up to 100 MW of PV and envisages the deployment of 200 MW small- and medium-scale renewable energy projects, up to a maximum size of 20 MW. Eligible renewables include solar PV, hydro, geothermal, biomass, waste energy and wind power.
The Department of Renewable Energy and Energy Efficiency at the African Development Bank has issued an expression of interest to arrange debt financing for the five 20 MW IPP solar projects.
The Zambian government is aiming to deploy 500 MW of solar PV over the next few years.
(Source: Zambia Ministry of Energy, PV Mag, September 3, 2018) Contact: Zambia Ministry of Energy, www.mewd,gov.zm; African Development Bank, Amadou Hott, VP Power, Energy, Climate and Green Growth, +225 2026 3900, www.afdb.org/en
More Low-Carbon Energy News Solar, African Development Bank,
The UK contribution will come through the Clean Technology Fund, which provides funding for clean technology projects in developing countries with a focus on developing low-carbon solutions and eliminating greenhouse gas emissions.
The UK is the largest contributor to the global fund, followed by the US and Japan.
The storage project is being developed by the World Bank, the African Development Bank and the South African government.
(Source: Various Media, Energy Digital, 30 Aug., 2018)
More Low-Carbon Energy News Energy Storage, Renewable Energy, Battery,
The MDBs' latest joint report on climate financing said $27.9 billion -- 79 pct of the 2017 total -- was devoted to climate mitigation projects that aim to reduce harmful emissions and slow down global warming. The remaining 21 pct or $7.4 billion of financing for emerging and developing nations was invested in climate adaptation projects. In 2016, total MDB climate financing totaled US$27.4 billion.
The MDBs, which include the African Development Bank , the Asian Development Bank, the European Bank for Reconstruction and Development, the European Investment Bank , the Inter-American Development Bank Group (IDB and IDB Invest) and the World Bank Group (World Bank, IFC and MIGA), account for the vast majority of multilateral development finance. (Source: IDB, Caribbean Life, 23 June, 2018) Contact: IDB,
Juan Pablo Bonilla, Climate Change and Sustainability Sector Manager, Therese Turner-Jones, GM Caribbean Country Department, www.iadb.org
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To support the project, the Government of Kenya is creating an enabling environment to enhance private sector investment through a competitive tender processes intended to lower the unit costs of geothermal power generation as well as lowering the cost of doing business in Kenya.
The project is expected to save up to 95,100 tons of CO2 equivalent and supply sufficient energy to as many as 48,800 households per year at a low generation cost of seven cents/kWh. (Source: AfDB, CPI, 10 June, 2018) Contact: AfDB, Amadou Hott, VP Power, Energy, Climate and Green Growth, +225 2026 3900, www.afdb.org/en
More Low-Carbon Energy News African Development Bank , Geothermal,
The GCF, part of the UNFCCC, assists developing countries in adaptation and mitigation practices to counter climate change. The GCF program in Zambia is managed by the National Designated Authority.
(Source: Green Climate Fund, PR, Media Africa, 1 Mar., 2018) Contact: Green Climate Fund, +82.32.458.6000, www.greenclimate.fund; UNFCCC, www.unfccc.int
More Low-Carbon Energy News Green Climate Fund, Climate Change, Carbon Emissions,
The project is expected to have a significant "demonstration effect" with regards to bioEnergy and showcase Corporate Power Purchase Agreements (PPAs) as an anchor for renewable energy power generation as well as have a significant impact on the region's economy.
SEFA is a US$95-million multi-donor facility funded by the governments of Denmark, the UK, the United States and Italy, and is hosted by the Renewable Energy Department of the AfDB.
(Source: African Development Bank Group, PR, 9 Nov., 2017) Contact: African Development Bank, www.afdb.org; Sustainable Energy Fund for Africa, www.se4all-africa.org
More Low-Carbon Energy News Biomass, Woody Biomass, Biomass-to-Power,