Africa Investment Forum showcases $1.475 billion in green and renewable energy deals
(AfDB) - Africa Investment Forum’s current pipeline, comprises 90 deals valued at $62.9 billion
The curated projects, which are drawn from all of Africa’s regions, are sourced from the Africa Investment Forum’s pipeline. They reflect gathering urgency in Africa, the world’s 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.
The African Development Bank’s 2023 Annual Meetings are being held under the theme, Mobilizing Private Sector Financing for Climate and Green Growth in Africa.
The investment roundtable, held in Sharm El Sheikh, attracted a range of private investors, including venture capital and private equity firms.
From hydropower to plastic recycling green projects showcase ample opportunities on the continent
The transactions included a hybrid hydrogen feedstock/ ammonia project in North Africa that will source 400 MW of renewable energy to produce—without Co2 emissions— 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.
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. 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 investment roundtable also featured an opportunity to invest in a $73 million plastic recycling and sustainability company’s 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’s plastics are recycled. The project resonated positively with growth capital investors that attended the roundtable.
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’s scalability across Africa and the project resonated positively with growth capital investors that attended the roundtable...Read more on Ecofin Agency
Source: Ecofin Agency