AfDB Apex bank pledges support on renewable energy

The initiative aims to produce 300 GW of electricity for the continent by 2030 as a statement of Africa’s position in the UN climate negotiations.

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President of the African Development Bank, Akinwunmi Adesina play

President of the African Development Bank, Akinwunmi Adesina

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President of the African Development Bank (AfDB), Akinwunmi Adesina, has launched an African Renewable Energy Initiative (AREI) as Africa’s contribution to the Conference of Parties (COP21) which will be taking place in Paris, France.

The initiative aims to produce 300 GW of electricity for the continent by 2030 as a statement of Africa’s position in the UN climate negotiations.

The AfDB headquarters in Abidjan play

The AfDB headquarters in Abidjan

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READ: Apex bank restates commitment to development in Africa

Media reports also reveal that the project also aims to help African countries advance towards renewable energy systems that support the low-carbon development strategies.

The project is expected to deliver about 10 GW of renewable energy generation capacity by 2020.

The AREI has been endorsed by the African Heads of States, the Ministers of Environment, the G7, and the G20.

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