The African Development Bank (AfDB) has approved $32.5 million equity investment to deliver renewable energy projects within Africa.
AFDB Vice President for Power, Energy, Climate Change and Green Growth, Amadou Hott says the investment will complement its operations in the energy sector and unlock an additional $40 million investments into the continent.
AfDB says there is a huge market for investors to generate a return from the funds, with nearly 600 million Africans without access to energy.
The Climate Investor One project will support establishment of clean energy projects in developing markets and provide access to electricity in under-developed markets.
