EU adds $8.1 billion for energy transition

From the newsletter

The European Union has pledged a further $8.1 billion at the G20 Summit in South Africa to accelerate Africa’s transition to renewable energy. This brings total commitments under the Scaling Up Renewables in Africa campaign to $17.9 billion, with the EU contributing more than $17.4 billion as it expands its investment efforts across the continent.

• The funding will support solar, wind and grid projects, add nearly 27 GW of clean power and provide electricity to 17.5 million households. 

• While the pledge is significant, it covers only one-sixth of the investment Africa needs to meet its energy and climate goals by 2030. South Africa remains the EU's strongest and most active market.

More details