United Nations has called on
businesses, governments, and
civil society to achieve Sustainable
Energy for All by 2030
Top Stories – February 2016
The New Deal on Energy for Africa – a transformative partnership is announced
The New Deal will be implemented through a partnership designed to provide a platform for coordinated action amongst partners (private and public) and for innovative financing. It will build on and further scale up the African Development Bank’s investments in the “soft” infrastructure of national governments and institutions, to enhance energy policies, regulations, incentive systems, sector reforms, corporate governance, and transparency and accountability in the energy sector. Under the New Deal, the Bank will ramp up its investments to provide finance and guarantees, co-financing and syndication. Between 2016 and 2020, the African Development Bank aims to invest about USD 12 billion and leverage about USD 50 billion in public and private financing for investments in the energy sector. In addition, it will triple its climate finance to about USD 5 billion each year, and leverage about USD 20 billion in private and public sector investments in climate mitigation and adaptation by 2020.
The New Deal will work with countries to develop their comparative energy resource advantages without bias, in renewables and non-renewables alike, and act as a central coordination point for all of the initiatives that are currently under way in Africa, including Power Africa, Sustainable Energy for All, and the Sustainable Energy Fund for Africa, among others.
Launch of the Efficiency for Access (E4A) Coalition
A new collaborative effort led by the Clean Energy Ministerial’s Global Lighting and Energy Access Partnership (Global LEAP) and Sustainable Energy for All (SE4All), the Efficiency for Access (E4A) Coalition is a global campaign to harness the game-changing power of energy efficiency to drive universal access to enhanced energy services beyond lighting by 2030.
E4A will provide a cross-cutting platform to help unite and amplify global efforts to catalyze markets for super-efficient end-use technologies (editor’s note: such as super-efficient DC televisions, fans, lighting and the like) and strengthen linkages with broader supply-side energy access efforts. E4A is leading a Year of Action in 2016 to mobilize commitments from public- and private-sector partners to support the development and deployment of these technologies, accelerating progress towards the recently announced Sustainable Development Goal 7 (SDG7) targeting universal energy access.
More than 100 stakeholders met recently at the African Development Bank in Abidjan to plan and discuss actions across Africa within the Sustainable Energy for All initiative. The main workshop included updates on the action agenda and investment prospectus planning process, which were followed by side events focused on sharing experiences on energy access in Bangladesh and Ghana, a focus on a new renewable energy platform released recently by IRENA, and one focused on gender and energy, covering a range of areas from cooking solutions to women’s entrepreneurship, and examples from Senegal. For more information on the workshop, including presentations, as well as to track the progress of SE4All planning in a range of African countries, please visit: http://www.se4all-africa.org/
At the end of 2015, the Government of Rwanda was awarded a US $840,000 grant from the African Development Bank-hosted Sustainable Energy Fund for Africa (SEFA) to promote green mini-grids (GMGs) and pave the way for private investments in this sub-sector. The project is expected to support Government efforts to provide electricity connection to at least 145,000 rural households and improve off-grid access rate from 5% to 22% by 2018.
The International Renewable Energy Agency (IRENA) and the Abu Dhabi Fund for Development (ADFD) have announced $46 million of loans to four renewable energy projects in several developing countries The loans will finance a wind and solar project in Antigua and Barbuda, a solar scheme in Burkina Faso, solar and wind plants in Cape Verde and a solar site in Senegal. Together the projects will result in nearly 12 MW of new renewable energy capacity.
These projects are funded through the IRENA/ADFD Project Facility, which has committed USD 350 million to increase the deployment of renewable energy in developing countries. To date, the facility has allocated USD 144 million in project funding over its first three cycles. Loans are provided to help finance up to 50 per cent of each project, attracting co-financing from banks, international financial institutions and other development partners.
Projects should be submitted by Members of IRENA, Signatories of the IRENA Statute or States in Accession which are included as developing countries in the “DAC List of ODA Recipients” from the Organisation for Economic Co-operation and Development (OECD). Preference will be given to project proposals submitted by IRENA Members. For further details, visit here.