{"id":10972,"date":"2021-10-10T18:46:12","date_gmt":"2021-10-10T18:46:12","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=10972"},"modified":"2021-10-10T19:19:18","modified_gmt":"2021-10-10T19:19:18","slug":"green-climate-fund-invests-150-million-in-desert-to-power-g5-sahel-financing-facility","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/green-climate-fund-invests-150-million-in-desert-to-power-g5-sahel-financing-facility\/","title":{"rendered":"Green Climate Fund Invests $150 million in Desert to Power G5 Sahel Financing Facility"},"content":{"rendered":"<p>The African Development Bank has welcomed $150 million investment in its Desert to Power G5 Financing Facility from the Green Climate Fund (GCF). The GCF approved the amount at its 30<sup>th<\/sup>\u00a0Board meeting this week.<\/p>\n<p>Desert-to-Power is a flagship renewable energy and economic development initiative led by the African Development Bank. Its objective is to light up and power the Sahel region by building an electricity generation capacity of 10 gigawatts through photovoltaic solar systems via public, private, grid and off-grid projects by 2030.<\/p>\n<p>The objective of the umbrella Desert to Power G5 Financing Facility is to assist the G5 Sahel countries \u2013 Burkina Faso, Chad, Mali, Mauritania, and Niger \u2013 to adopt a low emission power generation path by making use of the region\u2019s abundant solar potential. It will mobilize $966 million over a seven-year implementation period. The initiative is expected to lead to substantial CO2 emission reductions \u2013 projected at over 14.4 million tCO2equ.<\/p>\n<p>The facility consists of both public and private sector sub-projects, which will be implemented under three components: The first entails grid investments and investments in storage solutions to de-risk solar IPPs and pave the way for the uptake of a regional solar market. The second component entails the provision of concessional finance and guarantees for new solar independent power producer plants to add over 500 megawatts of solar energy generation capacity. The third component involves technical assistance to support the creation of a clear and predictable environment for private sector solar investments and the development of an adequate capacity of national institutions in the G5 Sahel countries.<\/p>\n<p>African Development Bank Vice President Dr Kevin Kariuki welcomed the Green Climate Fund\u2019s approval. He said: \u201cThe Desert to Power G5 Sahel Facility is a significant shot in the arm for the Desert to Power initiative. It will spur private sector investments in developing solar generation capacity in the G5 Sahel countries. This will provide an opportunity to realize Dr Adesina\u2019s and by extension the African Development Bank\u2019s vision of the Desert to Power initiative as an integral part of the solution for tackling climate change in the Sahel. The timing of the approval is also perfect, coming just before COP26.\u201d<\/p>\n<p>Reacting to the approval, GCF Deputy Executive Director Javier Manzanares said: \u201cWe are proud to be part of this innovative project with our partners at the African Development Bank.\u00a0The Desert to Power G5 Sahel Facility has the\u00a0potential to make an enormous difference in people\u2019s lives across the Sahel by tapping into the immense potential of solar energy, generating cheaper, reliable, and low-emission electricity.\u00a0GCF\u2019s catalytic financing alongside that of the African Development Bank and the private sector will together mobilise nearly $1 billion for this truly transformative project.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The African Development Bank has welcomed $150 million investment in its Desert to Power G5 Financing Facility from the Green Climate Fund (GCF). The GCF approved the amount at its &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/green-climate-fund-invests-150-million-in-desert-to-power-g5-sahel-financing-facility\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":10254,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7447,7442,7446,4746,4748,11],"tags":[80,368,434,9667,730,9666,1489,1535,8038,8630,6428],"class_list":["post-10972","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-central-africa","category-countries","category-north-africa","category-renewables-2","category-solar","category-top-news","tag-african-development-bank","tag-burkina-faso","tag-chad","tag-desert-to-power-g5-sahel-facility","tag-electricity","tag-green-climate-fund","tag-mali","tag-mauritania","tag-niger","tag-sahel","tag-solar-energy","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/04\/Kom-Ombo-solar-park.jpg?fit=800%2C400&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-2QY","jetpack-related-posts":[{"id":11864,"url":"https:\/\/www.oilnewskenya.com\/index.php\/afdb-approves-379-6m-desert-to-power-financing-facility-for-the-g5-sahel-countries\/","url_meta":{"origin":10972,"position":0},"title":"AfDB Approves $379.6M Desert to Power financing facility for the G5 Sahel countries","author":"","date":"February 21, 2022","format":false,"excerpt":"The Board of Directors of the African Development Bank Group\u00a0has approved the Desert to Power G5 Sahel Financing Facility, covering Burkina Faso, Chad, Mali, Mauritania, and Niger. The Bank envisages to commit up to $379.6 million in financing and technical assistance for the facility over the next seven years. The\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8373,"url":"https:\/\/www.oilnewskenya.com\/index.php\/infrastructure-fund-africa50-helps-egypts-solar-power-sector-take-off\/","url_meta":{"origin":10972,"position":1},"title":"Infrastructure Fund Africa50 helps Egypt\u2019s Solar Power Sector take off","author":"","date":"June 18, 2020","format":false,"excerpt":"A 37-square-kilometer solar park so large that it can be seen from space, with over seven million photovoltaic panels, and funding of $4 billion. In Africa? Impossible? Not anymore.Thirty international infrastructure developers got behind this project, investing in Egypt\u2019s massive Benban solar park, which will be the largest in the\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Benban-solar-pack.jpg?fit=1024%2C768&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Benban-solar-pack.jpg?fit=1024%2C768&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Benban-solar-pack.jpg?fit=1024%2C768&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Benban-solar-pack.jpg?fit=1024%2C768&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":14214,"url":"https:\/\/www.oilnewskenya.com\/index.php\/mauritania-over-289m-in-financing-to-develop-solar-power-generation-transmission-accelerate-energy-transition\/","url_meta":{"origin":10972,"position":2},"title":"MAURITANIA: Over $289M in Financing to Develop Solar Power Generation, Transmission &#038; Accelerate Energy Transition","author":"","date":"January 31, 2024","format":false,"excerpt":"Mauritania's Minister of Economy and Sustainable Development, Abdessalam Mohamed Saleh, and the African Development Bank's Deputy Managing Director for North Africa, Malinne Blomberg, signed, on Thursday in Nouakchott, financing agreements for two energy sector projects in Mauritania worth a total of US$289.5 million, covering solar power generation, transnational electricity interconnection\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9378,"url":"https:\/\/www.oilnewskenya.com\/index.php\/are-african-development-bank-afdbs-financing-policies-climate-friendly\/","url_meta":{"origin":10972,"position":3},"title":"Are African Development Bank (AfDB)&#8217;s financing policies climate-friendly?","author":"","date":"November 9, 2020","format":false,"excerpt":"(By Wangeci Migwi, Amy Giliam and Nicole Rodel) With the climate crisis threatening over half of the global GDP, there can be no business-as-usual when the world begins to plan for a recovery from the COVID-19 pandemic. Instead, we have a unique opportunity to change our relationship with nature by\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Benban-solar-pack.jpg?fit=1024%2C768&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Benban-solar-pack.jpg?fit=1024%2C768&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Benban-solar-pack.jpg?fit=1024%2C768&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Benban-solar-pack.jpg?fit=1024%2C768&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":11752,"url":"https:\/\/www.oilnewskenya.com\/index.php\/ghana-afdb-extends-27-39m-grant-to-support-development-of-mini-grid-and-solar-pv-net-metering\/","url_meta":{"origin":10972,"position":4},"title":"GHANA: AfDB Extends $27.39M Grant to support development of Mini Grid and Solar PV net metering","author":"","date":"February 2, 2022","format":false,"excerpt":"The Board of Directors of the African Development Fund has approved a $27.39 million grant to Ghana for the development of renewable energy investments in the mini grid and net metering space.\u00a0 The project involves the development of 35 mini grids, standalone solar photovoltaic systems in 400 schools, 200 units\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/08\/Solar-Energy.png?fit=588%2C391&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/08\/Solar-Energy.png?fit=588%2C391&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/08\/Solar-Energy.png?fit=588%2C391&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":9527,"url":"https:\/\/www.oilnewskenya.com\/index.php\/irena-and-african-development-bank-partner-to-scale-up-renewable-energy-investments-in-africa\/","url_meta":{"origin":10972,"position":5},"title":"IRENA and African Development Bank partner to scale up renewable energy investments in Africa","author":"","date":"December 9, 2020","format":false,"excerpt":"The International Renewable Energy Agency (IRENA) and the\u00a0African Development Bank\u00a0have agreed to jointly support investment in low carbon energy projects, a move expected to advance Africa\u2019s energy transition. The two entities signed a Declaration of Intent to coordinate on a range of activities, including co-organizing renewable energy investment forums as\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/01\/wind-1-scaled.jpg?fit=1200%2C884&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/01\/wind-1-scaled.jpg?fit=1200%2C884&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/01\/wind-1-scaled.jpg?fit=1200%2C884&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/01\/wind-1-scaled.jpg?fit=1200%2C884&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/01\/wind-1-scaled.jpg?fit=1200%2C884&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/10972","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=10972"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/10972\/revisions"}],"predecessor-version":[{"id":10973,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/10972\/revisions\/10973"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=10972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=10972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=10972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}