Europe/Middle East/Africa

African Renewable Energy Fund Reaches US$200 Million Financial Close

The African Renewable Energy Fund, a dedicated renewable energy fund focused on sub-Saharan Africa, has reached its final close with US$200 million of committed capital to support small- to medium-scale projects, with investment at the final close from European Investment Bank and the Global Energy Efficiency and Renewable Energy Fund, among other investors.

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UK Renewables Suffer Blow From Proposed Cuts in Assistance

In a blow to the renewable energy sector, the UK government is planning to impose massive cuts to a financial assistance program for clean energy projects including wind and solar.
The Department of Energy and Climate Change plans to reduce the so-called feed-in tariffs for wind-energy projects with capacities of between 100 kilowatts and 500kW to 4.52p/ per kilowatt-hour from 10.85p/kWh.

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