M a r k e t N e w s
UK and USA sign MoU to aid Africa with power generation
Posted on : Monday , 28th December 2015
K’s Energy Africa campaign and USA’s Power Africa initiative have decided to sign a partnership to aid Africa with power generation projects
geothermal HaukurHerbertsson flickrHarnessing geothermal energy sources across Africa could help overcome electricity deficits.
An MoU was signed between USA and UK at the United Nations Economic Commission for Africa (UNECA) and New Climate Economy event Climate Change in Africa: Financing low-carbon pathways for development at the COP21 UN climate change conference in Paris.
The two initiatives, it is believed, will leverage private investments to boost investment in clean energy through joint projects; expand off-grid energy; develop networks to share power across borders; help women participate in Africa’s energy sector and develop regional geothermal energy.
UK international development minister Nick Hurd said, “It is shocking that 600mn Africans still live without power at home. This is not just holding back individuals; it is holding back an entire continent. No one can tackle Africa’s energy challenge alone. We will only make progress if we work together. That is why this new partnership is so important.”
Source : africanreview.com
