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Olugbemi. Adeyinka Ogunleye
1 month ago
Overview
ECOWAS Finalizes Framework for $75m Renewable Energy Facility
• Says $19b needed for Agric projects in W’Africa
• LEDCo partners Lagos on 20,000 smart solar lights
The Economic Community of West African States (ECOWAS), yesterday, announced completion of framework for the establishment of its $75 million Renewable Energy and Energy Efficiency Facility. At the opening of the 93rd Ordinary Session of ECOWAS Council of Ministers in Abuja, the President, ECOWAS Commission, Dr Alieu Omar Touray, also disclosed that investment towards improving storage facilities, milling initiatives and enhanced mechanisation in paddy production would gulp about $19 billion.
This was as LEDCo Limited disclosed partnering Lagos State Government for solar street lighting project. Commending the progress made so far on the 6,800-kilometre Nigeria-Morocco gas pipeline project, which was part of the integrated projects for the region, Touray listed other projects being undertaken across the community to include regulation on roaming, direct flight and water resources. He said: “A framework document for the establishment of ECOWAS Renewable Energy and Energy Efficiency Facility has been finalised by the ministers. This is a new blended finance facility with an initial amount of $75 million. The objective is to provide grants, loans and guarantees through regular demand-driven competitive calls for proposals, provide clean energy solutions for ECOWAS region.
More: https://guardian.ng/news/ecowas-completes-framework-for-75m-renewal-energy-facility/
