A $4.5 billion pledge was made by the UAE, during the African Climate Summit held in Nairobi, Kenya to help African countries. This was provided by the AMEA Power Renewables company based in Dubai.
This comes just before the UN Climate Change Conference (COP) is to be held in Dubai this November and the Emirates are hoping to address the infrastructure issues preventing further adoption of green energy generation by African countries.
Saudi Arabia’s ACWA Power Company, which specializes in solar and wind power also pledged $10 BLN USD for investments in Egypt’s renewables sector. ACWA is the biggest private enterprise in the field of desalination and it also operates in other North African countries aiming to relieve the stress on freshwater resources faced by these desert lands.
The Arabian Gulf countries hope to make long-lasting partnerships with Africa’s many developing renewable energy sectors. Aiming to retain significant market shares in these ever-growing markets with youthful populations and to diversify Arab energy revenues away from oil.
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