The Bank’s investment, which will come from its Sustainable Energy Fund for Africa (SEFA), is expected to enable the participation of other interested investors.
The African Development Bank's (AfDB.org) Board of Directors has approved a $5 million investment in the SPARK+ Africa Fund to deliver clean cooking solutions to over two million households across Africa.
The European Commission will contribute an additional €10 million. The Bank's investment, which will come from its Sustainable Energy Fund for Africa (SEFA), is expected to enable the participation of other interested investors. As an anchor investor, the Bank will channel first-loss equity from SEFA and the European Commission thematic blending facility. Read More here.
EDF Renewables Israel CEO Ayalon Vaniche talks about the latest developments in the scorching industry at Calcalist's and ESIL Technologies’ “Sustainability and Innovation Week”
The electricity sector has suffered from a decade of under-investment when it comes to anything related to renewable energies. In fact, the Israeli government's 2009 decision to integrate "green electricity" has so far failed miserably. By 2014 at least 5% of production was supposed to come from wind or solar facilities with the figure supposed to climb to at least 10% by 2020. As of today, the state has missed all of the benchmarks it set for itself and green energy sources only account for 8% of the electricity produced in the country. Read More here.
The World Bank Board of Directors approved on Wednesday, July 29, a total of $300 million in International Development Association (IDA)* credits and grants to support reforms that will help promote electricity trade in West Africa.
According to a World Bank release, the West Africa Regional Energy Trade Development Policy Financing Program (West Africa Energy DPF) seeks to remove barriers to electricity trade, which will lower electricity costs for consumers, support the competitiveness of firms and improve resilience and reliability of supply. Read More here.
The Ministry of Environment is set to ban the use and supply of charcoal in Kigali City as it steps up efforts to protect the environment by reducing the use of wood fuel.
The use of charcoal has been cited as the main driver of deforestation and indoor air pollution. And the move could help reduce Rwanda’s reliance on wood fuel from 80 percent to 40 percent by 2024.
Read the full article here.