The Africa Finance Corporation (AFC) and the Japan Bank for International Cooperation (JBIC) have sealed a commitment to collaborate on energy transition projects in Africa.
The pact which was inked during the 58th Annual Assembly of the African Development Bank in Egypt, emphasizes the importance of international cooperation in advancing Africa’s development. Under the MOU, priority projects will focus on various aspects of renewable energy and energy efficiency.
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Energy efficiency
This includes the development of renewable energy technologies and systems, such as green and blue hydrogen and ammonia, which are important for promoting cleaner energy sources. Additionally, highly energy-efficient power plants and carbon capture and storage (CCS) technology will be emphasized, highlighting the importance of reducing carbon emissions and mitigating climate change.
The recent acquisition of Lekela by AFC and its partners, including Infinity Power, further strengthens their position as the largest renewable energy provider in Africa. With a combined gross capacity of 1.27 gigawatts (GW), their renewable energy projects can power over one million homes and offset approximately 2.7 million tonnes of CO2 emissions annually. This achievement showcases their dedication to expanding renewable energy infrastructure across the continent and contributing to a more sustainable future for Africa.
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