AfDB approves $20 million to fund renewable energy projects in Africa

Techloy
Techloy
Jan 8 · 1 min read

The African Development Bank (AfDB) has approved a $20 million investment in the Metier Sustainable Capital International Fund II to fund renewable energy and resource-efficient infrastructure projects across Sub-Saharan Africa.

Metier, with a track record of deploying more than $550 million in African countries, including solar, wind and hydro power projects in Southern and East Africa, will focus on the production of an additional 178.5 megawatts of renewable power for commercial and residential use, according to the Bank.

The Bank’s funding will also create opportunities for industrial waste water treatment and waste-to-energy generation in order to meet its strict environment and safeguards standards to ensure potential risks are adequately mitigated.

The latest funding is expected to help alleviate financing constraints in the renewable energy sector in the region.

Techloy | African technology news and startup culture

Techloy is a digital publication covering technology and innovation in Africa, since 2008.

Techloy

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Techloy

Covering news and insights about innovation and technology in Africa. Get in touch: hello@techloy.africa

Techloy | African technology news and startup culture

Techloy is a digital publication covering technology and innovation in Africa, since 2008.

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