Africa Secures $10.9M for Clean Energy Transition

Published on:
by KnowESG
KnowESG_Africa Secures $10.9M for Clean Energy Transition
Picture of a solar farm.
  • Africans will have access to clean and affordable energy, even in remote areas.

  • The investment aims to support local economies and transition the continent away from using non-renewable energy sources.

The Rockefeller Foundation, a US-based philanthropic medical research and arts funding organisation, has announced $10.9 million for Africa to help the continent transition to green energy.

This project will fund clean energy initiatives in several African regions and support energy systems planning in Africa, with designs and modelling tailored to the continent's requirements.

Using the money, a hub will be set up in Ghana to train people on energy policies and regulations, making energy more accessible across the continent.

A new project will be launched in Kenya with an outlay of $4,00,000 to provide cleaner cooking solutions for millions of people who are currently dependent on polluting fuels like charcoal and wood. The aim is to set a benchmark for other African countries.

The foundation has set aside $3,00,000 for off-grid solar projects. The aim is to integrate solar energy into the national electrification plans of many African countries, helping them access affordable, green energy even in the remotest villages.

Zambia has received an investment of $5 million to install 1,000 mini-grids in rural areas, providing electricity to millions of people and supporting local economies.

“Africa’s leadership is paving the way for a sustainable energy future on the continent and around the world,” said William Asiko, Vice President and head of The Rockefeller Foundation’s Africa Regional Office. “From mini grids to clean cooking solutions, from policies to regulations, The Rockefeller Foundation is proud to partner with African leaders to scale innovations that can transform vulnerable people’s lives and livelihoods.”

Follow KnowESG's Sustainable Finance News for regular news and views.

Discover an extensive network of ESG providers here

Check out KnowESG's latest ESG Event updates

Source: The Rockefeller Foundation

Share:
esg
esg
esg
esg

Sustainable Finance Headlines

DOE Allocates $15B to PG&E for Hydropower, Battery Expansion

DOE Allocates $15B to PG&E for Hydropower, Battery Expansion

Canadian Startup Gets $40m for Carbon Removal from Gates

Canadian Startup Gets $40m for Carbon Removal from Gates

DP World Issues Middle East's First Blue Bond

Afreximbank Funds First Hydropower Project in DRC

Schroders Capital, BlueOrchard Invest $5m in Africa's Green Projects

DP World's Carbon Inset Programme to Reduce Scope 3 Emissions

PCAF Expands GHG Accounting and Reporting Framework

Australia Approves US$50m for Decarbonisation in Singapore

responsAbility and Phlomis Finance Combine Blockchain and Impact Investing

ADIB Publishes First Net Zero Report, Establishing Benchmark