Poznan:22 Million Euro Investment For Clean Energy in Africa and Asia
By December 13th, 2008Saturday, December 13, 2008 6:09 on
The Global energy efficiency and renewable energy Fund (GEEREF) initiated by the European Commission (EC) to supply clean energy in developing countries decided on a first set of investments worth 22 million euros.
Investments, which contribute to climate change, will finance renewable energy projects at small scale in Sub-Saharan Africa and in Asia.
The announcement was made Thursday by the European Commissioner for Environment, Stavros Dimas, at the GEEREF presentation.
The funds collected by the Committee for Investments of GEEREF will be invested in renewable energy projects such as wind, hydro and biomass-based.
“1.6 billion people around the world have no access at this time to the energy services. GEEREF investments will accelerate the transfer, development and deployment of environment-friendly technologies and consequently, will help at supplying energy to people which are situated in poor regions. “said Louis Michel, European Commissioner responsible for development and humanitarian aid.
GEEREF is headed by a committee of delegates for investments composed from its shareholders and industry experts. The consulting is offered by the European fund for Investments and European Bank for Investments.
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