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Angola receives renewable energy investments worth $1m – report

The Sustainable Energy Fund for Africa, managed by the African Development Bank, has approved a $1 million grant to independent power producers in Angola, online power journal ESI Africa reported.

The AfDB said the grant would be used to establish a one-stop shop unit as part of efforts to encourage private investment in renewable energy.

It will address capacity-building issues by providing technical assistance on project procurement, contract design implementation and monitoring.

Angola’s government aims to expand electricity access to 60 percent of the population by 2025, with an expected 70 percent.

“This project will enable and stimulate investments through IPPs in the Angolan renewable energy sector,” AfDB vice president for power, energy, climate change and green growth Amadou Hott said.

““It also complements the $1 billion bank’s power sector reform support program to the ongoing energy sector reforms undertaken by the country.”

– African News Agency (ANA)

Source: BusinessReport

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