Today, Friday, the European Commission revealed a new pledge worth 7 billion euros to accelerate the deployment of renewable energy in Africa, in one of the largest commitments to support the transition towards clean energy on the continent, ahead of the G20 leaders’ summit scheduled to start tomorrow and last for two days.
European Commission President Ursula von der Leyen said, during an event aimed at promoting renewable energy in Africa, as published by the official news agency of the South African government, that Europe is committed to standing by African countries now and in the future.
She added: “I am happy to announce on behalf of Europe an additional 7 billion euros for renewable energy in Africa.. This means Europe stands with you now and in the future.”
This pledge comes within broader global efforts aimed at mobilizing new investments in clean energy infrastructure on the continent, with total contributions since last November reaching 15 billion and 500 million euros.
These commitments are expected to generate about twenty-seven gigawatts of clean electricity and provide energy to up to 17 million and 500 thousand homes.
The CEO of the campaign organizer indicated that the volume of pledges represents a turning point in the path of transition towards clean energy in Africa, adding that these funds represent one-sixth of the investment required to achieve the continent’s energy and climate goals by 2030, and double the current capacity for renewable energy.
The campaign aims to reduce the energy access gap and expand clean energy infrastructure on the continent, amid increasing global commitments to combat climate change.
The new pledges are expected to stimulate more public and private investment in solar and wind energy projects and strengthen electricity networks across Africa.
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