The Africa Renewable Energy Initiative (AREI) aims at enabling the installation of large-scale renewable energy capacity on the African continent by 2020, which would have a considerable impact on the reduction of greenhouse gases emissions in the continent. At least $5 billion in public and highly concessional finance between 2016 and 2020, from bilateral, multilateral and other sources, including the Green Climate Fund, will be needed to leverage a further USD15 billion in other investments, for a total investment of at least USD20 billion pre-2020.

The Initiative is led by the African Union’s commission, the New Partnership for Africa’s Development (NEPAD)’s Agency, the African Group of Negotiators, the African Development Bank, the UN Environment Program (UNEP), and the International Renewable Energy Agency (IRENA).

Credit photo: Raymond Bosma (Flickr)