Small-scale Renewable Energy across Sub Saharan Africa.

The Bank managing Sustainable Energy Fund for Africa released funds worth $760000 for the construction of small renewable energy projects in Africa. The project involves putting up a minimum of eight renewable energy plants of capacity that ranges between one and ten megawatts.

The project aims to empower the production of renewable energy from small to medium scale in Africa. This breeds the focus on solar energy, wind, hybrid, and hydro technologies. The funds will support a wide range of expenses. From preparation of the project, Environmental and Social Impact Assessment, Management of Risks, and even technical issues.

The partnership between SEFA and EmNEW ignites a bright future for Renewable Energy in Africa.

Terje Osmundsen, the CEO of Empowering New Energy, expressed his excitement regarding the support. He was enthusiastic about their alliance with SEFA and the African Development Bank. Terje Osmundsen even recognized some projects in Africa which remain unfinished because of inadequate finance to support their completion. He complimented that with the support they were receiving, more high-quality projects will become successful.

Especially since he desires to bridge the gap existing in the energy sector, and considers the provision of clean and affordable energy across Africa as one of their key objectives. He believes through their partnership, they will not only promote universal electrification but also ensure carbon reduction and meet SDGs.

The empowerment of New Energy believes investing in Small and medium renewable energy projects is the fastest way to bridge the gap existing in Africa in the energy sector.

The new believes the medium and small-scale investments are the best. Why? They are time and cost-effective. As much as they require less capital, they are environmentally friendly. As such, they are not accompanied by environmental hazards; hence there is not much focus on risk management.

“Accelerated deployment of distributed solar power and small hydropower is one of the fastest and most cost-effective ways to bridge the energy access gap, fight climate change and promote sustainable development in Sub-Saharan Africa,” said Wale Shonibare, the Bank’s Acting Vice President for Power, Energy, Climate and Green Growth.

This is unlike the high-quality local alliances. They require a high amount of capital, and most of them always end up unfinished.

SEFA’s interest in addressing challenges in the renewable energy sector in Africa.

The bank’s effort to fund the Empowerment of New Energy in Africa is in association with SEFA’s interest in addressing energy problems in Africa. For instance, inadequate funds to finance renewable energy projects.

Where is the Empowerment for New Energy offices in Africa?

The regional offices are located in Ghana and Kenya, where they have released $500million for the investment of renewable energy projects. EmNEW aims to reduce the level of carbon emission by 320000 tons and create around 20000 new job opportunities through these projects. It also wishes to enhance universal electrification by producing about 585 Gigawatts of renewable energy.