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UK commits £100 million in Africa power projects

December 18, 2018 12:09 pm by: Category: Africa & World, BUSINESS, Featured, Finance & Banks, Investing, National, NEWS Leave a comment A+ / A-
United Kingdom

United Kingdom

by AKANI CHAUKE 
JOHANNESBURG – THE United Kingdom (UK) has invested an extra £100 million (R1,8 billion) to enable first time access to electricity to hundreds of thousands of people in sub-Saharan 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 five years.

This could unlock an extra £156 million of private finance into renewable energy markets in Africa by 2023.

The announcement made at COP24 in Poland would see developers of small-scale solar, wind, hydro and geothermal projects supported to harness each country’s natural resources.

Electricity generated is expected to provide 2,4 million people a year with new or improved access to clean energy.

Some of the 18 projects already receiving support from REPP are in Burundi, Cameroon, Kenya and Tanzania.

The new investment is in addition to £48 million previously committed to the REPP.

– CAJ News

 

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