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How to Ensure Innovative Financing Mechanisms for Renewable Energy?

How to Ensure Innovative Financing Mechanisms for Renewable Energy?

Access to electricity remains one Africa’s main challenge on the path toward development. Despite near-abundant resources, it is estimated that around 600 millions Africans still do not have direct access to electricity, hindering both the continent’s social and economic development. With almost unlimited potential, renewable energies appears to be the obvious solution to improving Africa’s access to electricity. However, the part of renewable energy in most African countries has not changed in the last 30 years and ambitious renewable energy projects are constrained by insufficient networks and high investment risks. Thus, developing innovative financing solutions will be key to tap Africa’s renewable energy potential. During the EU-Africa Business Summit, governments, experts and the private sector will discuss opportunities to develop innovative financing mechanisms for renewable energy in Africa.

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