AfDB grants $760,000 for small-scale renewable energy projects across sub-Saharan Africa

JOHANNESBURG  – The African Development Bank’s Sustainable Energy Fund for Africa has approved a $760,000 grant to fund manager Empower New Energy (EmNEW) towards developing at least eight small renewable energy projects in sub-Saharan Africa, each with a capacity of up to 10 megawatts.

In a statement, the AfDB said the grant would support a broad range of project preparation and development activities, including technical feasibility studies, legal due diligence, environmental and social impact assessment, quality assurance and risk management.

EmNEW invests in small and medium-scale renewable energy projects in Africa, with a focus on solar power, hybrid and hydro technologies.

“There is a large number of strong small or medium scale projects across Africa that remain unrealised because they can’t access competitive financing,” EmNEW chief executive officer Terje Osmundsen said.

“Together, we can bring impactful investment to Africa, while helping the continent to meet its electrification, carbon-reduction, and sustainable development targets.”