The Angolan government's The Sustainable Energy Fund for Africa is to receive $1m to back independent power producers in the country. Energy Project Implementation Support Unit, operated by the African Development Bank, is providing the loan to the unit which is aimed at aiding developers of solar and renewable energy. The funding should improve the bankability of their projects, but also give technical assistance that can help them tackle capacity-building issues. The government wants to install nearly 800 MW of renewable energy capacity by 2025, improving the current rate of around 40% access to electricity among the population.
The Angolan government's Energy Project Implementation Support Unit is to receive $1m to back independent power producers in the country. The Sustainable Energy Fund for Africa, operated by the African Development Bank, is providing the loan to the unit which is aimed at aiding developers of solar and renewable energy. The funding should improve the bankability of their projects, but also give technical assistance that can help them tackle capacity-building issues. The government wants to install nearly 800 MW of renewable energy capacity by 2025, improving the current rate of around 40% access to electricity among the population.