PM hails Green Industrial Revolution āsweeping across Africaā�
»Ź¹ŚĢåÓżapp Prime Minister welcomes major new UK investments and public-private partnerships.
PM hails Green Industrial Revolution āsweeping across Africaā�
- PM set welcomes transformative new investments in clean energy at Commonwealth Business Forum in Kigali today
- UK government support and private sector partnerships back hydropower across Africa and renewable energy supply in Uganda
- UK also commits a further Ā£36m to help small island states protect their ocean economies
»Ź¹ŚĢåÓżapp Prime Minister will welcome major new UK investments and public-private partnerships which are turbocharging the clean energy transition in Africa, as he attends the Commonwealth Business Forum in Kigali today.
Two projects supported British International Investment (BII) ā� the UKās development finance institution ā� will invest massively in hydropower across Africa and upgrade Ugandaās power stations to boost renewable energy capacity.
»Ź¹ŚĢåÓżapp UK will also commit an additional Ā£36 million to boost sustainable growth in Small Island Developing Statesā� critical maritime economy. »Ź¹ŚĢåÓżapp funding will support UK scientific expertise and resources for small island governments to sustainably monetise their ocean resources, while protecting the marine environment.
»Ź¹ŚĢåÓżapp Prime Minister Boris Johnson said:
ā»Ź¹ŚĢåÓżapp Green Industrial Revolution is sweeping across Africa, backed by British financing and technical expertise. »Ź¹ŚĢåÓżapp continentās abundant natural resources can be harnessed to provide cheap, reliable sources of energy for its people and industries, without contributing to the rising global temperatures that are already devastating communities.
ā»Ź¹ŚĢåÓżapp UK Government is leading the way, supporting sustainable green infrastructure across the Commonwealth and opening new opportunities for Britainās leading clean tech companies to grow their business around the world.ā�
British International Investment will provide up to Ā£162 million [$200m USD] of capital investment in the hydropower sector in Africa, partnered with Norwayās Norfund in a joint venture with energy firm Scatec.
»Ź¹ŚĢåÓżapp partnership is expected to create 180,000 jobs and provide enough electricity to meet the needs of more than 3 million people, while slashing greenhouse gas emissions. Initial projects include the proposed 205MW Ruzizi III hydropower plant which will provide energy for Rwanda, DRC and Burundi, and the construction of Malawiās largest power plant.
Gridworks, a UK Government-funded subsidiary of BII, has also signed a cooperation agreement with the Government of Uganda this week to invest up to $90 million [Ā£73m] to develop their national grid. »Ź¹ŚĢåÓżapp project will upgrade four critical electricity substations in Uganda to boost their capacity to absorb renewable energy to supply industrial customers.
Uganda already gets 80 percent of its energy from renewable sources, but has the potential to generate far more if storage and transmission infrastructure is improved.