{"id":13700,"date":"2023-05-25T10:32:38","date_gmt":"2023-05-25T10:32:38","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=13700"},"modified":"2023-05-25T10:32:38","modified_gmt":"2023-05-25T10:32:38","slug":"africa-investment-forum-showcases-1-475b-in-green-renewable-energy-deals-at-african-development-bank-2023-annual-meetings","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/africa-investment-forum-showcases-1-475b-in-green-renewable-energy-deals-at-african-development-bank-2023-annual-meetings\/","title":{"rendered":"Africa Investment Forum showcases $1.475B in Green &#038; Renewable Energy Deals at African Development Bank 2023 Annual Meetings"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The Africa Investment Forum presented four renewable energy and sustainability projects worth nearly $1.5 billion to investors on the sidelines of the African Development Bank Group\u2019s (<a href=\"https:\/\/r.news.africa-wire.com\/mk\/cl\/f\/zFRzIB75sJjmJ16rBnYisyRoMqyDmsWN4qnzhcNR6cPrDDKxDZJ4mvnpEsw0VvUZK1lNHiltV4ri-lBUb7cUZJ_7eOYyCh35DZVIGvHGjCuMwXBHjS1zRtb7a4kciRW6VZdq3xyioPRgrilpUxXRaX_8sYS3glujWP8RhbsFg35IeauMSZOI4RN7amGAu5QFVr5Ooipja5ciJd9oaYWH8djsUzcrgLst8kBuNsUtWec23iRk1zSro4fU6AbDx2bPs9IEW28MopJmtZV3wRqUeo8zFZ36Cxh4K0xZGLpRjbtHCoqSPweWmnEBMw\" rel=\"noreferrer noopener\" target=\"_blank\">www.AfDB.org<\/a>)&nbsp;2023 Annual Meetings.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The curated projects, which are drawn from all of Africa\u2019s regions, are sourced from the Africa Investment Forum\u2019s pipeline. They reflect gathering urgency in Africa, the world\u2019s most vulnerable region to climate change, to accelerate climate action, including closing financing gaps by securing an ever-increasing share of global capital for the continent.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The African Development Bank\u2019s 2023 Annual Meetings are being held under the theme,&nbsp;<em>Mobilizing Private Sector Financing for Climate and Green Growth in Africa.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The investment roundtable, held in Sharm El Sheikh, attracted a range of private investors, including venture capital and private equity firms.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>From hydropower to plastic recycling green projects showcase ample opportunities on the continent<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The transactions included a hybrid hydrogen feedstock\/ ammonia project in North Africa that will source 400 MW of renewable energy to produce\u2014without Co2 emissions\u2014 183 tons of hydrogen feedstock daily to generate 1,000 tons a day of green ammonia via electrolysis. Additional investment of $27 million is needed to move the project towards bankability.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The second transaction, in West Africa, is a 27 MW hydropower project that has successfully undergone feasibility assessments. It has also attracted funding support from a number of international entities and multilateral development agencies.&nbsp; Among projected benefits, the deal will service 700,000 households, generate 600 direct and indirect jobs over the life of the project, and reduce Co2 emissions by 81,000 tons each year. The project represents an increase of 10% in the country\u2019s total electricity generation capacity. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The investment roundtable also featured an opportunity to invest in a $73 million plastic recycling and sustainability company\u2019s expansion drive into seven African countries across West, Central and Southern Africa. The project has attracted the interest of several funders of project preparation and technical assistance to conduct feasibility studies in the target countries. It promises important benefits: creation of 16,000 jobs as well as opportunities for 20,000 waste pickers in targeted countries. It will also divert 214,000 metric tons of plastic waste (PET,PP,PE) from landfill dumps and reduce carbon emissions by 149,000 metric tons. Currently only 10% of Africa\u2019s plastics are recycled. &nbsp;The project resonated positively with growth capital investors that attended the roundtable.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The transaction incorporates important technological features, including cutting-edge processing lines and app-based collection and payment options. These features were viewed as enhancing the project\u2019s scalability across Africa&nbsp; and the project resonated positively with growth capital investors that attended the roundtable..<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The fourth transaction is an opportunity to invest in a $440 million Southern Africa hydropower independent power producer that will generate 544,000 MWh\/year of energy. It will also include water distribution and flood prevention elements. Other benefits include 3,000 construction jobs through project completion. The transaction sponsors are seeking $12.5 million to finalize the project\u2019s development phase.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Africa Investment Forum Senior Director, Chinelo Anohu, hosted the event. She said, \u201cthere is a need for the Africa Investment Forum on the continent. We can\u2019t overemphasize both the convening power and the strength of the platform.\u201d She said the transactions showcased represented only a small part of the platform portfolio.&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In addition to the African Development Bank, representatives of the Africa Investment Forum founding partners Africa Finance Corporation, Africa50, Islamic Development Bank, Development Bank of Southern Africa, Trade and Development Bank and Afreximbank attended.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Investors present asked follow-up questions to learn more about the projects presented.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The event also included an update on the Africa Investment Forum\u2019s current pipeline, comprising 90 deals valued at $62.9 billion and classified as either in the capital raise phase or the bankability phase. &nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Africa Investment Forum\u2019s flagship Market Days event, to be held in November 2023, will bring together international deal sponsors, investors and government leaders to showcase transactions that are ready to progress toward closure.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Championed by the African Development Bank and seven other founding partners (Africa50, Africa Finance Corporation, Afreximbank, Development Bank of Southern Africa, European Investment Bank, Islamic Development Bank and Trade and Development Bank), the Africa Investment Forum is Africa\u2019s investment marketplace to accelerate transactions to close Africa\u2019s investment gaps.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Africa Investment Forum presented four renewable energy and sustainability projects worth nearly $1.5 billion to investors on the sidelines of the African Development Bank Group\u2019s (www.AfDB.org)&nbsp;2023 Annual Meetings. The &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/africa-investment-forum-showcases-1-475b-in-green-renewable-energy-deals-at-african-development-bank-2023-annual-meetings\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":13701,"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":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,4333,11],"tags":[9405,11184,7536,11248,742,821,10392,9872,5586],"class_list":["post-13700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-renewables","category-top-news","tag-afreximbank","tag-africa-finance-corporation","tag-africa50","tag-development-bank-of-southern-africa","tag-energy","tag-european-investment-bank","tag-green","tag-islamic-development-bank","tag-renewable","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/05\/Solar-Energy-2.jpg?fit=1200%2C800&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3yY","jetpack-related-posts":[{"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":13700,"position":0},"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":[]},{"id":11838,"url":"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-redstone-concentrated-solar-power-csp-achieves-first-debt-draw-down\/","url_meta":{"origin":13700,"position":1},"title":"SOUTH AFRICA: Redstone Concentrated Solar Power (CSP) Achieves First Debt Draw Down","author":"","date":"February 16, 2022","format":false,"excerpt":"Commercial operation scheduled to start in Q4 2023; The African Development Bank (www.AfDB.org) acted as the Mandated Lead Arranger and\u00a0Coordinating Bank, committing ZAR 2.306 billion to the transaction; The ZAR 11.6 billion Redstone concentrated solar power (CSP) project will provide power to 200,000 households upon completion. South African Redstone concentrated\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\/2022\/02\/redstone-solar-thermal-power-project_northern-cape-south-africa_rendering-1.jpg?fit=815%2C326&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/redstone-solar-thermal-power-project_northern-cape-south-africa_rendering-1.jpg?fit=815%2C326&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/redstone-solar-thermal-power-project_northern-cape-south-africa_rendering-1.jpg?fit=815%2C326&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/redstone-solar-thermal-power-project_northern-cape-south-africa_rendering-1.jpg?fit=815%2C326&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":9585,"url":"https:\/\/www.oilnewskenya.com\/index.php\/african-development-bank-approves-7-million-in-sustainable-energy-fund-for-africa-sefa-technical-assistance-to-transform-mini-grid-investment-in-africa\/","url_meta":{"origin":13700,"position":2},"title":"African Development Bank approves $7 million in Sustainable Energy Fund for Africa (SEFA) Technical Assistance to Transform Mini-grid Investment in Africa","author":"","date":"December 19, 2020","format":false,"excerpt":"The\u00a0 African Development Bank\u00a0have approved a $7 million grant from the Sustainable Energy Fund for Africa (SEFA), for technical assistance in setting up a mini-grid acceleration initiative to meet the needs of the continent\u2019s fast-evolving renewable mini-grid industry. The Africa Mini-Grid Market Acceleration Programme (AMAP), which aims to\u00a0boost energy access\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\/11\/power-lines.jpg?fit=810%2C456&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/11\/power-lines.jpg?fit=810%2C456&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/11\/power-lines.jpg?fit=810%2C456&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/11\/power-lines.jpg?fit=810%2C456&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":13700,"position":3},"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":11155,"url":"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-uk-climate-investments-norfund-invest-in-joint-venture-to-develop-renewable-assets\/","url_meta":{"origin":13700,"position":4},"title":"SOUTH AFRICA: UK Climate Investments &#038; Norfund Invest in Joint Venture to Develop Renewable Assets","author":"","date":"November 15, 2021","format":false,"excerpt":"UKCI and Norfund are funding a South African joint venture partnership between H1 Holdings and Pele Green Energy to develop renewable energy assets on a 50\/50 basis. Today, Macquarie-managed UK Climate Investments (UKCI) and Norfund announced they are financing a joint venture between H1 Holdings and Pele Green Energy to\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":[]},{"id":8281,"url":"https:\/\/www.oilnewskenya.com\/index.php\/african-development-bank-welcomes-10-million-clean-technology-fund-investment-to-diversify-ethiopias-energy-mix\/","url_meta":{"origin":13700,"position":5},"title":"African Development Bank welcomes $10 million Clean Technology Fund investment to diversify Ethiopia\u2019s energy mix","author":"","date":"May 18, 2020","format":false,"excerpt":"The African Development Bank has welcomed a decision by the Trust Fund Committee of the Clean Technology Fund CTF), one of two funds within the Climate Investment Funds\u00a0(CIF), to extend a $10 million \u00a0concessional senior loan for development of the 50 MW Tulu Moyo Geothermal Power Plant project in\u00a0Ethiopia. The\u2026","rel":"","context":"In &quot;Eastern Africa&quot;","block_context":{"text":"Eastern Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/eastern-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Ethiopia-Tulu-Moye.jpg?fit=680%2C510&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Ethiopia-Tulu-Moye.jpg?fit=680%2C510&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Ethiopia-Tulu-Moye.jpg?fit=680%2C510&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13700","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=13700"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13700\/revisions"}],"predecessor-version":[{"id":13702,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13700\/revisions\/13702"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/13701"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=13700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=13700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=13700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}