The new investment triples funds for the Renewable Energy Performance Platform (REPP), to support up to 40 more renewable energy projects over the next 5 years
UK Government has earmarked a fund of £100 million for the development of renewable energy projects in Africa.
The new investment triples funds for the Renewable Energy Performance Platform (REPP), to support up to 40 more renewable energy projects over the next 5 years. The new funding could unlock an extra £156 million of private finance into renewable energy markets in Africa by 2023.
The press release said that, “Developers of small-scale solar, wind, hydro and geothermal projects will be supported to harness each country’s natural resources, and the electricity generated is expected to provide 2.4 million people a year with new or improved access to clean energy.”
“Power produced from new projects funded is expected to save around 3 million tonnes of carbon over their lifetime, compared with fossil fuel generation – the equivalent to the emissions from burning 21,000 railway cars of coal or from 800,000 cars in a year,” the press release further added.
Energy and Clean Growth Minister Claire Perry said, “this £100 million will help communities harness the power of their natural resources to provide hundreds of thousands of people with electricity for the first time. Building these clean, reliable sources of energy will also create thousands of quality jobs in these growing green economies.”
The new investment is in addition to £48 million previously committed to the REPP. The programme is already supporting 18 renewable energy projects in a range of countries from Tanzania to Burundi.