France Invests 2 Billion euros in renewables in Africa
02.12.2015
French President François Hollande said on December 1st, 2015, France plans to spend 2 billion euros in renewable energy and other environmental projects in its former west African colonies and across Africa over the next five years. Africa produces little of the greenhouse gases such as carbon dioxide, by burning fossil fuels, causing rapid climate change. But it is particularly vulnerable to a changing climate, as much of its population is poor, rural and dependent on rain-fed agriculture. Hollande told a conference on Africa, held as part of climate change talks in Paris, that his government would double investments in renewable energy generation, ranging from wind farms to solar power and hydroelectric projects, across the continent to 2 billion € between 2016 and 2020. In addition, he said, Paris would triple to 1 billion € a year by 2020 its contribution to Africa’s battle with desertification and other climate change challenges. Programs will encourage the use of solar energy, wind power, hydroelectricity or geothermal energy, depending on the potential of each country. Projects financed by France will be able to register as part of the initiative on renewable energy led by the African Union. African leaders want the biggest polluting nations to commit to financing as part of contributions to an internationally administered Green Climate Fund, that hopes to dispense 100 billion $ each year after 2020 as a way to finance the developing world’s shift towards renewables.
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