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Major energy players are gearing up for an event that will showcase 16 bankable projects that are ready to be financed in Africa, including renewable energy schemes. The Global African Investment Summit, held in London from October 20-21, hopes to gain direct funds from some of the world’s largest institutional investors into projects across the continent, putting a focus on Ghana, Rwanda, Tanzania, and Uganda.
While Ghana will focus on renewable energy projects, Rwanda will present methane and hydropower projects, Kenya biofuels, and Nigeria a gas-fired project.
Andrew Herscowitz, coordinator for President Barack Obama’s Power Africa and Trade Africa Initiatives, said: “The risks when raising finance and executing projects are such that we have seen a shift where there is more interest from clients in companies looking to finance projects than there are projects. So one of the things we will have to do is work with projects to make sure they are bankable.” (Source: Alternatives Energy Africa)