The Sustainable Energy Fund for Africa (SEFA) managed by the African Development Bank comes
allocate a grant of $760,000 to renewable energy projects on the continent. These funds have
have been allocated to Empower New Energy (EmNEW), which will develop at least eight mini
renewables with a capacity between 1 and 10 MW.
More specifically, they will be used to carry out preparatory work for projects, including studies
feasibility, legal due diligence, social and environmental impact assessment and r risk. Small and medium-sized power plants will be solar, hydroelectric or hybrid as appropriate.
"We are very excited about this partnership with the BAD and SEFA. There are many small and
projects medium-sized that cannot be developed on the continent because they cannot have
access to competitive financing. Our approach allows us to fill this gap and work with
SEFA to develop higher quality projects," said Terje Osmundsen, Director
EmNEW.
Executive The kenya- and Ghana-based company hopes to raise up to $500 million to develop
projects to create 20,000 new jobs and eventually produce up to 585 GWh
of clean electricity per year.