By: Ruth Yared
African View, December 6, 2023
The 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), Executive Vice President of the European Commission Maroš Šefčovič announced a Team Europe pledge of more than €20 billion for the Africa-EU Green Energy Initiative (AEGEI), an initiative launched during the 6th EU-AU Summit, in February 2022.
The Africa-Europe Green Energy Initiative aims to engage European and African public and private sector actors to increase electricity production and access to energy promote energy efficiency, support reforms for a conducive regulatory environment for private investment, and foster market integration.
Executive Vice President of the European Commission, Maroš Šefčovič, said: “The Africa-EU Green Energy Initiative will ensure increased access to affordable, reliable and sustainable energy for people and businesses in Africa; promote the increase of generation of renewable energy; and increase energy efficiency. With more than 20 billion euros until 2027 pledged by Team Europe partners, including 3.4 billion euros in grants from the EU, we are demonstrating our commitment to the target of tripling renewable energy and doubling energy efficiency which we hope to also be included in the multilaterally agreed outcomes of COP28.”
As part of the Global Gateway Africa-Europe Investment Package, AEGEI aims to support the deployment of at least 50 Gigawatts of renewable electricity generation capacity, ensuring access to electricity for at least 100 million people in Africa by 2030, promote energy efficiency, support reforms for a conducive regulatory environment for private investment, and foster market integration.
Within the framework of AEGEI, significant actions at continental, regional and national levels, focusing on enhancing access to affordable, reliable and sustainable energy across the African continent are already being taken forward.
Source: EU
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