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Wind, Solar Energy Project Money Available for African Investment

Frost & Sullivan report details private-investment opportunities in Southern Africa July 19, 2010 — Technology development and deployment funds for financing the growth of low-carbon technologies in sub-Saharan Africa, including funding for wind energy and solar energy projects, have been established, according to Frost & Sullivan. According to the group, more than $200 million in private-sector financing is available for clean energy projects. According to the company’s report, Financing Clean Energy Projects in Sub-Saharan Africa, the key challenges to the financing of such wind energy, solar energy, biomass and hydropower projects in sub-Saharan African countries is a lack of clarity on targets for renewable energy projects. On top of that, the sub-Saharan African countries each face their own unique challenges in terms of an underdeveloped policy and regulatory environment and a lack of funding for suitable projects. The company says a combination of private sector investment and government funding will be the key to ensuring that sufficient capital is available for financing renewable energy projects. “In spite of its potential, the sub-Saharan Africa region is yet to fully realize the significant prospects to develop renewable energy projects,” says Frost & Sullivan Program Manager, Cornelis Van der Waal. “The lack of suitable financing has been one of the key reasons for the slow progress in the development of the region’s renewable energy projects. However, policies and regulations that enhance public and private sector financing assist in shifting some of the investment costs away from the investor to the public sector.” Read more about wind energy in Africa at Wind Energy Industry Today: Kenya Wind Energy news – http://windenergy.einnews.com/kenya/ Located at http://windenergy.einnews.com, Wind Energy Industry Today is a wind energy news monitoring service from EIN News.