For the development of renewable energy projects in Africa, the Africa Development Bank (AFDB) is planning to fund $10 billion, according to a report by Today Ng. Reportedly, disclosing the project planned for the next five years, Akinwumi Adesina, the President of AFDB, signed the announcement at the virtual Roundtable COP26, on Clean Power Transition, […]
AFDB donates more than 12 million euros to finance the energy transition
The Board of Directors of the African Development Fund (ADF), the concessional financing window of the African Development Bank Group, approved, Wednesday, March 25 in Abidjan, a donation of 12.46 million euros (10 million of Units of Account) intended to finance the Energy Transition and Institutional Support Program (ETISP) in São Tomé and Príncipe. The […]
AFDB to provide underserved communities in Nigeria with sustainable energy solutions
The African Development Bank and the Government of Nigeria have launched the National Electrification Project (NEP), to address critical energy access deficits by channeling private sector investments into mini grid and off-grid solutions. The project, which will be implemented by Nigeria’s Rural Electrification Agency, is a boost to efforts to achieve the target of universal […]
African Development Fund approves close to $35 million to the Government of Liberia for renewable energy
The African Development Fund has approved a $34.74 million grant and loan to boost renewable energy access and promote an attractive investment climate in Liberia. At a signing ceremony on 29 January in Monrovia, Dr. Orison Amu, the African Development Bank’s Country Manager in Liberia, and Samuel Tweah Jr., Liberia’s Minister of Finance & Development […]
Sudan: AfDB Approves $21.783Million Grant For Roll Out Of Solar-powered Irrigation
aThe African Development Bank’s Board of Directors has approved a grant to the government of Sudan to accelerate the adoption of solar-powered irrigation pumps in the country’s West Kordofan and North Kordofan states. The project will enable farmers’ adoption of renewable energy technology through the installation of 1,170 photovoltaic (PV) irrigation pumps, the establishment of […]
AfDB’s SEFA provides $1mn to support 9 MW solar-hydro hybrid project in Burundi
The African Development Bank-managed Sustainable Energy Fund for Africa (SEFA) has approved a USD 990,000 grant to support the preparation of a 9 megawatt solar-hydro hybrid project in Burundi. The African Development Bank-funded project consists of two plants, each featuring a solar and a hydro component as well as a local distribution network and interconnection […]
AFRICA: EIB and TDB lend $120 million to SMEs for renewable energy
The European Investment Bank (EIB) has recently partnered with the Eastern and Southern African Trade and Development Bank (TDB) to open a USD 120 million credit line. It is intended to finance renewable energy projects for small and medium-sized enterprises (SMEs). The 9th Summit of Heads of State and Government of African, Caribbean and Pacific […]
AfDB approves $210 million loan for Nigeria’s power transmission project
The loan to Transmission Company of Nigeria (TCN) will support construction of 330KV double circuit quad transmission lines and sub-stations across the country LAGOS : The African Development Bank (AfDB) has approved a $210 million loan to help Nigeria upgrade its dilapidated electricity transmission and distribution network. The loan to Transmission Company of Nigeria (TCN) […]
ZAMBIA: AfDB and FVC finance rural electrification by renewable energy sources
The African Development Bank (AfDB) and the Green Climate Fund (GCCF) have signed a US$ 154 million financing agreement. The project is aimed at electrifying rural areas through renewable energy sources (RES) in Zambia. It is an alliance that promises to boost rural electrification in Zambia. The partnership is made up of the African Development […]
Africa to become world leader in renewables
JOHANNESBURG: Africa, where close to half of its 1,2 billion people have access to electricity, is set to become a world leader in renewable energy. As global business and development leaders met in Johannesburg, South Africa, to attend the Africa Investment Forum (AIF), one of the key focuses of the deals being discussed was around […]