Africa > World Bank to Earmark $16 Billion for African Clean Energy Projects

Africa: World Bank to Earmark $16 Billion for African Clean Energy Projects


Clean energy projects will be flying high across Africa as the World Bank is planning to raise $16 billion for solar, hydro, and geothermal energy projects.

Practice Manager for Energy and Extractives at the World Bank, Charles Cormier, said at a side event held at the African Pavilion at the COP 22, that the move is part of the Africa Climate Business Plan which was presented at the COP 21.

The plan will provide investments to boost clean energy and help 5 million off-grid consumers to access modern energy services by 2023, he said.

The Africa Climate Business Plan, dubbed Accelerating Climate-Resilient and Low-Carbon Development, lays out measures to boost the resilience of the continent’s assets – its people, land, water, and cities – inclunding other moves inclunding boosting renewable energy and strengthening early warning systems.

During the side event, a senior executive of MASEN, the Moroccan Agency for Solar Energ in charge of leading the country’s shift to renewable energy, surveyed Morocco’s national plan and experience in renewable energy, primarily Concentrated Solar Power (CSP). He said the success of the country’s efforts in the field can be an incentive to Sub-Saharan Africa, a region ideally suited to the CSP technology due to its abundant sunshine.

He noted that so far, solar power only makes up approximately 0.5% of the energy in sub-Saharan nations.

Morocco is committed to breaking its dependence on imported fossil fuels and to taking action on climate change. To meet this goal, it set a target to meet 42% of its power generating capacity needs through renewables by 2020– a figure that was raised to 52% by 2030 at last year’s climate talks in Paris, France.

The COP22 Moroccan pavilion as well hosted on Wednesday a side event that debated the theme of migration, resilience and health. Opening this side event, Senegal’s Prime Minister Mahammed Boun Abdallah Dionne stressed the need for gearing action during COP22 towards addressing climate change as a root-cause of the threats to sustainability, stability and security in Africa.

Participants in the debate shared views on means to address the multidimensional climate change risks on the continent.

These side events are held in preparation for the adoption on November 14 of the “Marrakech Declaration: Forging Sustainability, Stability and Security in Africa.”

Related Articles
  • Anambra Guber: IPOB Urges Igbos To Boycott Election

    2017/10/21 The Indigenous People of Biafra, IPOB, has asked all of its members in Anambra National to remain indoors between 6pm November 17 to 6pm on November 18 in a bid to boycott the gubernatorial election in the national. THe IPOB, in a statement by its spokesperson, Emma Powerful, alleged that the Nigeria Government was planning to unleash additional killings on them during the Anambra 18th Governorship Election. The statement said, “This evil plan concocted by the APC government in concert with Nigerian military and supported by unscrupulous South East governors is solely intended to cement their dubious efforts to label the great IPOB a terrorist group. Up till presently, all efforts to convince, cajole, intimidate and bribe some nations of the world to designate IPOB a terrorist group has failed.
  • Couple Sent To Prison For Kissing In Public In Tunisia

    2017/10/21 A couple has been convicted on appeal in Tunis for “public indecency” next an altercation with police who arrested the couple while they were hugging in a car. The couple, who maintain that they were not kissing, were given a lighter sentence than the original term handed out at their October 4 trial, next widespread outrage on social media and in the press over the incident.
  • Nigeria-Cameroon Clash: Senate Probes Border Crisis

    2017/10/21 The Nigerian Senate has begun an investigation into the violent clashes between border communities in Nigeria and Cameroon. According to reports, the recent clashes have resulted in the loss of lives and properties of innocent Nigerians. The Senate, however, mandated its committees on Police Affairs and National Security to probe the matter. The resolution yesterday was sequel to a point of order raised by Senator John Enoh, APC, Cross River Central. According to Enoh, it was the business of the Nigerian government to protect its citizens from internal and external aggression, lamenting that the affected people from his political jurisdiction had been abandoned to face operations from the Cameroonian aggressors.
  • Nobel Laureate Joseph Stiglitz Calls For New Strategy

    2017/10/19 Joseph Stiglitz has advised African nations to adopt coordinated strategy encompassing agriculture, manufacturing, mining, and service sectors to attain same success delivered by the old manufacturing export-led strategy. Prof. Stiglitz, an economist and professor at Columbia University, New York, gave the advice at the Babacar Ndiaye lecture series introduced by African Export-Import Bank (Afreximbank) which debuted in Washington D.C.
  • Innoson Motors To Export 400 Nigerian Made Vehicles To Mali

    2017/10/19 According to Yara Abdulsalam, the Charge‘d Affair of Nigeria in Mali, a Nigerian motor manufacturing company, Innoson Motors, has signed MoU with a Malian firm to export 400 locally made vehicles to Mali. Speaking on Friday in Abuja, Abdulsalam made the announcement at the same time as he led a delegation of businessmen from Mali to visit the Foreign Affairs Minister, Geoffrey Onyeama. Abdulsalam pointed that during the week, Innoson Motors signed Memorandum of Considerate with Taxi Plus VIP, a Mali based transport company for the expansion of transport business in that country.