(2 minutes read)
· The African Development Bank-managed Sustainable Energy Fund
for Africa (SEFA), has approved a US$760,000 grant to Empower New
Energy (EmNEW), to develop at least eight small renewable energy
projects
· The grant can be used for project preparation and development
activities. The broad areas the grant can be put to use include
technical feasibility studies, carrying out due diligence,
environmental and social impact assessment, quality assurance and risk
management
The African Development Bank-managed Sustainable Energy Fund for
Africa (SEFA), has approved a US$760,000 grant to Empower New Energy
(EmNEW), to develop at least eight small renewable energy projects.
These projects will have a combined capacity ranging from 1-10 MW.
The grant can be used for project preparation and development
activities. The broad areas the grant can be put to use include
technical feasibility studies, carrying out due diligence,
environmental and social impact assessment, quality assurance and risk
management.
The EmNEW invests in small and medium-scale renewable energy projects
in Africa, with a focus on solar power, hybrid, and hydro
technologies, through its specialized arm for executing renewable
projects. It invests in renewable energy projects through competitive
equity to small and medium scale projects. The firm has regional
offices in Kenya and Ghana, with projects expected to unlock up to
US$500 million in renewable energy investment. These projects have the
potential to reduce CO2 emissions by 320,000 tons, create 20,000 new
jobs, and eventually produce 585 GWh of clean electricity.
