The Sustainable Energy Fund for Africa (SEFA) has approved a $1 million grant for modernization of Africa’s aging hydropower fleet.
The grant will fund the mapping and evaluation of African hydropower facilities’ rehabilitation needs. It will also support the preparation of modernization works for two pilot facilities to a bankable stage, a move expected to add 200 MW in generation capacity, create 150 jobs and reduce greenhouse gas emissions by about 300 kilotons of CO2 annually. The modernization of hydropower stations is an opportunity to increase generation capacity at low-cost, and with relatively short lead-times and minimal environmental impact.
“Modern hydropower plays a key role for Africa’s energy transition, reducing reliance on fossil fuels and anchoring larger shares of Variable Renewable Energy sources. This transformative program under SEFA’s Green Baseload component will specifically capitalize on the significant market opportunity for rehabilitation of Africa’s existing hydropower plants”, said Dr. Daniel Schroth, Acting Director for Renewable Energy and Energy Efficiency at the African Development Bank.
The African Development Bank manages SEFA. The project is fully aligned with the Bank’s New Deal on Energy for Africa, which aims to provide universal access to energy for Africans and prioritizes low-carbon technologies that harness the continent’s hydro, solar, geothermal and wind resources.
The program will be implemented in partnership with the International Hydropower Association (IHA), which has participated in similar initiatives in Asia and South America. Alex Campbell, IHA’s Head of Research and Policy said, “We are delighted to support the African Development Bank in this important and urgent project to modernize Africa’s hydropower fleet.”
Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...
Since its 2019 IPO, Airtel Africa paid Deloitte over $37 million in audit and non-audit fees,...
CCR-UEMOA presents mid-term review of private sector competitiveness efforts Reforms, AfCFTA trai...
World Bank announces $137 million to boost West Africa digital economy Program expands broad...
ECOWAS is proposing a regional digital platform for passengers to file and track complaints online...
System to enable tree-level traceability from forest to export Reform targets data gaps, fraud risks, and weak sector oversight Gabon's government...
Seaturns launches 2 MW wave energy pilot in Mauritius Project tests grid-connected technology with potential expansion to 10 MW Initiative reflects...
(BIDC) - The ECOWAS Bank for Investment and Development (EBID), in partnership with ASKY Airlines and Plan International Togo, successfully hosted the...
Rules set technical requirements and ensure fair competition in market Reform targets safer infrastructure and consumer protection in construction...
Event highlights growing role of diaspora entrepreneurs across multiple sectors Networks support trade, investment and SME...
Afreximbank launches Impact Stories season two highlighting trade-driven transformations Series features projects across Africa and Caribbean, from...