SHARM El-SHEIKH, Egypt - Tanzania’s President Samia Hassan will present an $18 billion plan to build renewable power generation in southern Africa at talks in Egypt as leaders from the continent seek to increase climate finance in the region.
Under the proposal, a bloc of 12 countries in the region would increase generation by about 8.4 gigawatts from sources such as solar and wind.
The move may help Hassan goad developed nations, who have been asking African economies to focus on renewable energy instead of fossil fuels, to back up their call with financing.
There has also been a trickle of funding for renewable energy projects on the continent, which made up about 1% of the global total of renewables deals last year, according to data compiled by Bloomberg New Energy Finance.
