The Africa Renewable Energy Initiative (AREI) - Led by African policy-makers under the African Union and supported by donor governments who pledged to raise $10 billion, the AREI reaffirms the goal of achieving universal energy access for all Africans by 2030.
The 120 country Solar Alliance - With the Indian government committing $30 million to set up the Solar Alliance headquarters, it aims to turbo boost the solar sector, catalysing hundreds of millions in investment. The alliance has an ambition to “bring clean and affordable solar energy within the reach of all”.
Power Africa & Energy Africa Partnership - The US Power Africa campaign aims to create 60 million new connections to energy services in Africa, millions using ‘beyond the grid’ solutions.
ElectriFI - derisking finance initiative - The EU, alongside the Global Off Grid Lighting Association and the Alliance for Rural Electrification, launched the blended investment ElectriFI initiative to catalyse investment in rural power projects. The initiative will provide $75 million in high risk, flexible finance to scaleable enterprises in order to attract more private finance to the sector.
Climate Aggregation Platform (CAP) - The platform will aggregate and standardise investments in small loans and assets, aiming to leverage low cost mainstream investment and build pipelines of low carbon energy projects.
Fossil Fuel Subsidy Reform Communique - Almost 40 countries signed the fossil fuel subsidy reform communique, including a number from emerging economies. Eliminating fossil fuel subsidies will remove a barrier to the adoption of low carbon energy alternatives.