By: Energy capital & power

Europe’s governing body the European Commission and the South African government have mobilized €15.5 billion to fund and support clean energy projects across Africa.

The funding – mobilized over a one-year campaign organized with advocacy group Global Citizen and the International Energy Agency – includes €15.1 billion pledged by European countries, private investors and development finance institutions.

“Millions more people could gain access to electricity; real, life-changing power for families, for businesses, for entire communities,” stated Ursula von der Leyen, President, European Commission.

Additional pledges include funding from pan-African financial institution the African Development Bank, €53 million from Norway, as well as other commitments collectively set to deliver 26.8 GW of new renewable capacity and connect 17.5 million new consumers to the electricity grid.