{"id":75690,"date":"2023-01-23T02:00:08","date_gmt":"2023-01-23T02:00:08","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/01\/23\/new-africa-focused-initiative-to-unlock-usd-850-mn-in-funding-for-the-continent\/"},"modified":"2023-01-23T02:00:08","modified_gmt":"2023-01-23T02:00:08","slug":"new-africa-focused-initiative-to-unlock-usd-850-mn-in-funding-for-the-continent","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/01\/23\/new-africa-focused-initiative-to-unlock-usd-850-mn-in-funding-for-the-continent\/","title":{"rendered":"New Africa-focused initiative to unlock USD 850 mn in funding for the continent"},"content":{"rendered":"

<\/a> The Africa Renewable Energy Manufacturing Initiative (AREMI) will invest USD <\/strong>850 mn towards the continent\u2019s clean energy manufacturing capacity<\/strong>, according to a press release<\/a> published last week. AREMI aims to boost climate business and investment to scale renewable energy on the continent, which it identifies as having a potential 1.2 TW of energy, increasing Africa\u2019s total GDP by 6.4% by 2050.<\/p>\n

How will they do it? <\/strong>AREMI will target countries with similar development needs and policy including China, India, and other Southeast Asian countries who are heavily experienced in green manufacturing for potential investments and partnerships with African countries, the statement notes.<\/p>\n

Where\u2019s the money likely to go? <\/strong>Algeria, Egypt, Morocco, and Tunisia were identified in a first wave of countries \u201cthat have medium or high feasibility to localize solar or battery storage manufacturing capacities\u201d in a Sustainable Energy for All (SEforALL) report<\/a> released in conjunction with the launch of the initiative, alongside Ghana, Namibia, South Africa, and Tanzania.<\/p>\n

Who\u2019s backing it? <\/strong>Launched at Abu Dhabi Sustainability Week, AREMI<\/a> was launched by SEforALL<\/a>, the African Climate Foundation<\/a>, Bloomberg Philanthropies<\/a>, ClimateWorks Foundation<\/a>, and the Chinese Renewable Energy Industries Association<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Africa Renewable Energy Manufacturing Initiative (AREMI) will invest USD 850 mn towards the continent\u2019s clean energy manufacturing capacity, according to a press release published last week. AREMI aims to boost climate business and investment to scale renewable energy on the continent, which it identifies as having a potential 1.2 TW of energy, increasing Africa\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":75691,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[443],"tags":[280,531,11,227,164,88],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-75690","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-climate-finance","tag-africa","tag-climate-finance","tag-enterpriseclimate","tag-green-economy","tag-green-finance","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"f553eb9c-8c35-4ba6-85dc-5f0ea130e265","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/1\/936.jpg","photo_position":"above","related_issue":[75682],"teaser":"","voice_url":""},"yoast_head":"\nNew Africa-focused initiative to unlock USD 850 mn in funding for the continent - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/23\/new-africa-focused-initiative-to-unlock-usd-850-mn-in-funding-for-the-continent\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Africa-focused initiative to unlock USD 850 mn in funding for the continent\" \/>\n<meta property=\"og:description\" content=\"The Africa Renewable Energy Manufacturing Initiative (AREMI) will invest USD 850 mn towards the continent\u2019s clean energy manufacturing capacity, according to a press release published last week. 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