10 GW Desert to Power PV initiative secures $ 150 million in funding – pv magazine international
The Green Climate Fund has announced that it will provide US $ 150 million to the Desert to Power initiative – a multi-country African Development Bank-led project that aims to build 10 GW of photovoltaic generation capacity in various projects across the Sahel region. south of the Sahara Desert.
The African Development Bank (AfDB) has received $ 150 million in funding from the Green Climate Fund (GCF) – a United Nations agency that helps developing countries adapt or mitigate climate change. Funding was finalized at a GCF board meeting held last week.
The funding will go to the Desert to Power initiative, an AfDB-led project that aims to build 10 GW of photovoltaic capacity in several countries in Africa’s Sahel region – providing grid-connected electricity to 160 million people. and off-grid electricity. to an additional 90 million.
The Sahel is a semi-arid region separating the Sahara Desert in the north from the savannah in the south. While the AfDB initiative supports the 11 countries in the region, this round of GCF funding will primarily go to projects in the G5 Sahel – a French-led cooperation between Burkina Faso, Chad, Mali, Mauritania and Niger.
“The Desert to Power G5 Sahel facility is an important boost for the Desert to Power initiative,” AfDB Vice President Kevin Kariuki said. “It will stimulate private sector investments in the development of solar production capacities in the G5 Sahel countries. This will be an opportunity to realize the African Development Bank’s vision of the Desert to Power initiative as an integral part of the solution to combat climate change in the Sahel. The timing of the approval is also perfect, just before COP26. “
The project is expected to mobilize nearly $ 1 billion over a seven-year period, with projects divided into three categories: grid and storage upgrades, to enable the use of solar power; financing of independent power producers for the construction of new solar power plants; and technical assistance to support the creation of stable environments for investment.
“We are proud to be part of this innovative project with our partners at the African Development Bank,” said Javier Manzanares, Deputy Executive Director of GCF. “The Desert to Power G5 Sahel facility has the potential to make a huge difference in the lives of people across the Sahel by harnessing the immense potential of solar energy, generating cheaper, reliable and low cost electricity. emissions. GCF’s catalytic funding alongside that of the African Development Bank and the private sector will together mobilize nearly $ 1 billion for this truly transformative project.
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