AfDB’s Clean Energy Projects In Africa Hit $4.3 Billion

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Sam Wakoba
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Alternative_EnergiesBetween 2011 and 2012, the African Development Bank (AfDB) increased its investment in clean energy in Africa by a staggering 92 percent putting its clean energy projects in Africa at $4.3 billion.

The new report by Bloomberg New Energy Finance, which looks at the clean energy transactions of 26 national and multilateral development banks from 2007 to 2012, between 2011 and 2012, AfDB increased by a staggering 92% its investment in clean energy in Africa, the largest source of financing for the Africa region so far.

AfDB was the first with $4.3 billion of the total $14.7 billion invested into clean energy projects followed by the World Bank Group at $2.9 billion since 2007.

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The funds totaling $1.2 billion are used to accelerate risky and costly clean energy projects such as the Moroccan Integrated Solar and Wind Energy Programs and Kenya’s Geothermal Development Project in Kenya.  Investments worldwide increased three-fold from 2007 to 2012, from $36.8 billion to $108.9 billion. Clean energy financing from development banks broke the $100 billion mark in 2012 for the first time in history.

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Sam Wakoba
Sam Wakoba
http://techmoran.com
Based in Nairobi, Kenya, Sam is a pan-African technology journalist, author, entrepreneur, technology business mentor, judge, educationalist, and a sought-after speaker and panelist across Africa’s innovation ecosystem. He is the convenor of the popular monthly #TechNight evening event and the #StartupEast Awards and Conference, platforms that bring together startup founders, developers, entrepreneurs, investors, content creators, and tech professionals from across the continent. For more than 16 years, Sam has reported on and analysed Africa’s technology landscape, covering some of the continent’s most impactful, and at times controversial policies, programs, investors, co-founders, startups, and corporations. His work is known for its independence, depth, and fairness, with a singular goal of helping build and strengthen Africa’s nascent technology ecosystem. Beyond journalism, Sam is a business analyst and consultant, working with brands, universities, corporates, SMEs, and startups across East Africa, as well as international companies entering the East African market or scaling across Africa. In his free time, he volunteers as a consulting editor and fintech analyst at Business Tech Kenya, a business, technology, and data firm that publishes reports, reviews, and insights on business and technology trends in Kenya. Follow him on X: @SamWakoba
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