(Bloomberg) — The European Union has unveiled a \u20ac545 million ($638 million) package to scale up renewables investment in Africa.<\/p>\n
The funds will support electrification, modernize power grids, and improve access to renewables, the EU Commission said in a statement Saturday.<\/p>\n
Investments include \u20ac359.4 million for a high voltage power in C\u00f4te d\u2019Ivoire to boost regional energy distribution, \u20ac59.1 million for rural electrification in Cameroon and \u20ac45.5 million to increase access to affordable renewable energy in Somalia.<\/p>\n
While the continent\u2019s renewable energy potential is tremendous, nearly 600 million people still live without access to electricity, according to the statement. Renewables investment is expected to create up to 38 million green jobs by 2030, the commission said.<\/p>\n
\u00a92025 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"(Bloomberg) — The European Union has unveiled a \u20ac545 million ($638 million) package to scale up renewables 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