AfDB’s Fund grants $760,000 to develop small-scale renewable energy projects across Sub Saharan Africa

At least eight small renewable energy projects will be improved by the $760,000 grant approved this Wednesday (15) from the  Energy Fund for Africa (SEFA) to Empower New Energy (EmNEW)

The grant will support a range of project preparation and development activities, including technical feasibility studies,  environmental and social impact assessment, quality assurance and risk management.

“There is a large number of strong small or medium scale projects across Africa that remain unrealized because they can’t access competitive financing. Together, we can bring impactful investment to Africa, while helping the continent to meet its electrification, carbon-reduction, and sustainable development targets,” said Terje Osmundsen, EmNEW’s CEO.

With offices in Kenya and Ghana, and local partners across the continent, EnNew is an impact fund manager investing in small and medium-scale renewable energy projects,  with a focus on solar power, hybrid, and hydro technologies.

Managed by the African Development Bank, SEFA is a multi-donor trust fund that supports small-and medium-scale Renewable Energy and Energy Efficiency projects in Africa. 

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