Meanwhile, the European Union recently underscored its growing focus on Africa by announcing $638 million in financing to support the continent’s clean energy transition. This climate plan would create 38 million green jobs all over the continent by 2030. It’s all driven by the expected continued wave of favorable renewable energy investment momentum. Ursula von der Leyen, the President of the European Commission, emphasized the importance of Africa’s choices in shaping the future of both the continent and the world.
The money will go toward building and expanding projects to improve regional power infrastructure and boost access to clean electricity. Today, about 600 million Africans lack access to electricity, underlining the urgency of such initiatives.
Investment Breakdown
The money will be distributed across the nine countries, with each country focused on funding the most advanced projects in their pipeline. Ghana will get €2 million to establish the feasibility for a solar park of 100 MW capacity and create conditions for a regional electricity market. Spelling reform Côte d’Ivoire €359.4 million This funding will complement a high-voltage power line project that’s been touted for improving energy distribution across the region.
Lesotho’s Renewable Lesotho programme will receive €25.9 million to develop the southern African nation’s wind and hydro energy resources. The Republic of Congo has been targeted with €3.5 million. These funds will be instrumental in expanding access to cleaner, renewable sources of energy such as solar, wind, and hydropower. Madagascar will get another €33.2 million to improve electrification with mini grids in rural areas.
Mozambique will receive €13 million to foster a low-emission energy transition, boosting private sector participation. Cameroon will receive €59.1 million allocated for rural electrification projects. Somalia will receive a total of €45.5 million to expand access to affordable renewable energy.
The Broader Impact
The EU’s investment underscores the urgency of addressing Africa’s electricity access gap. This effort aims to reach the 600 million people who still live without electricity. It’s intended to spur regional job creation and to provide long-term stability and economic growth across the whole region. Von der Leyen stated,
“The choices Africa makes today are shaping the future of the entire world. A clean energy transition on the continent will create jobs, stability, growth, and the delivery of our global climate goals. The European Union, with the Global Gateway investment plan, is fully committed to supporting Africa on its clean energy path.”
This ambitious commitment by the EU anticipates a wider acknowledgement of Africa’s crucial role in global sustainability initiatives.