EU puts $638m into Africa’s energy transition

From the newsletter

The European Union (EU) has announced a $638 million funding package to accelerate Africa’s clean energy transition. The program will support electrification, grid modernisation and renewable energy expansion in nine countries. The bloc has recently increased investments to strengthen its role in Africa as US engagement declines.

• Early investors in the renewables sector such as Norfund are seeing the first exits, boosting confidence in the market. 

• Gulf nations have also ramped up investments, pledging billions of dollars in recent months and expanding their focus beyond North Africa.

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