At COP 21, it was determined that approximately $19 billion of finance will be provided annually by developed countries for Africa’s renewable programme by 2020.
In addition, Japan announced $10billion per year in public and private finance also to reach Africa by 2020. New pledges to climate funds, including the Adaptation Fund, Least Developed Countries Fund, and the Green Climate Fund (GCF), added up to more than $1.5billion.
In addition, all multilateral development banks have pledged to scale up climate finance in developing countries by 2020, to more than $30 billion per year.
The availability of these funds will significantly hasten the pace of decisions being made by energy ministers and governments attending the Africa Renewable Energy Forum to implement renewable projects, IPP Programmes and diversify their energy mix to attract as much capital as possible into their banking and clean energy sector.
The protagonists of these policies and the alchemist’s of such funding including; JBIC, AFD, Renewable Energy Initiative, Africa50, AfDB, DBSA, World Bank, IFC and the governments of South Africa, Egypt, Morocco, as well as ECOWAS Centre for Renewable Energy and Energy Efficiency (ECREEE) and more will gather to promote new projects and share success stories from across the continent in a collaborative format that will showcase only the most relevant and proactive partners.
Some of the developers contributing include:
Mustapha Bakkoury, Chief Executive Officer, Masen
BadisDerradji, Regional Managing Director, ACWA Power
Amine HommanLudiye, Regional Manager, Northern Africa, ENGIE
Linda Thompson, Head of development, Africa, Mainstream
Christopher Hornor, President and Chief Executive Officer, Powerhive
Richard Avery, Regional Manager, West Africa, eleQtra
Michele Porri, Head of Business Development, ENEL Green Power
Nabil Saimi, Deputy Chief Executive Officer, Platinum Power
Some of the investors contributing include:
Jiwoo Choi, Head (Acting) , Green Climate Fund
Kohei Toyoda, Director of IPP/IWPPs EMEA, Japan Bank for International Cooperation
Alain Ebobissé, Chief Executive Officer, Africa50
Fabrice Juquois, Head of Energy Projects, TED Division, Department of Sustainable Development, French Development Agency (AFD)
Lucy Chege, General Manager, Energy Unit, Development Bank of Southern Africa (DBSA)
Yasser Charafi, Principal Investment Officer, International Finance Corporation
HajeSchutte, Head of Division, Development Co-operation Directorate, Organisation for Economic Co-operation and Development (OECD)
Ahmed Baroudi, Director General, Société d’InvestissementsEnergetiques