Windpower Engineering & Development

  • Home
  • Articles
    • Most recent posts
    • News
    • Featured
  • Leadership
    • 2020 Winners
    • 2019 Winners
    • 2018 Winners
  • Resources
    • Digital issues
    • Podcasts
    • Suppliers
    • Wind Farm Map
    • Wind Turbine Selector Tool
    • Wind Power Videos
    • Webinars
    • Wind Power Events
  • Webinars
  • Videos
  • Subscribe
    • Magazine Subscription
    • Enewsletter Subscription
  • About Us

IFC partners with Gaia Energy to develop more wind power in Africa

By Michelle Froese | July 31, 2018

IFC, a member of the World Bank Group, has forged a new partnership with Gaia Energy to create a joint platform for the development of wind power and other renewable energy projects in Africa.

Wind Turbine

The new joint platform between IFC and Gaia Energy will start with a pipeline of 22 projects in nine countries in Africa. It represents a pipeline of more than 3 GW of clean energy under development.

Gaia Energy is a Moroccan renewable energy developer active in 10 countries across Africa. The new joint platform will start with a pipeline of 22 projects in nine countries in North, West and East Africa, representing a pipeline under development of more than 3 GW. Originally developed by Gaia Energy, this pipeline will be progressively enlarged to new countries across the continent.

“IFC’s expertise in financial structuring and mobilization, as well as its environmental and social safeguards ideally, complements Gaia’s tailor-made approach to development projects in new markets,” said Moundir Zniber, Founder, and President of Gaia Energy. “Our partnership is a key step in expanding our business in the countries where we are present, and hopefully beyond. IFC and Gaia share the same values and vision regarding sustainability and the importance of South/South Cooperation to build tomorrow’s Africa.”

The joint platform will be implemented under IFC InfraVentures, a $150 million global infrastructure project development fund created as part of the World Bank Group’s efforts to increase the pipeline of bankable projects in developing countries. It will also be supported by the €114-million Finland-IFC Blended Finance for Climate Program, which helps spur private sector financing for climate change solutions, especially innovative and early-stage projects in emerging markets.

“Wind energy and renewable energy, in general, are priority areas identified in the World Bank Group’s strategy to advance climate solutions led by the private sector. IFC is pleased to partner with Gaia Energy and leverages a quality project pipeline in countries with strong wind potential,” said David Donaldson, IFC Head of Infraventures for Sub Saharan Africa. “IFC’s support will help Gaia in its strategic choice of countries where efforts should be intensified, and in taking projects to financial close.”

The energy gap is a major impediment to Africa’s development. Currently, 650 million Africans do not have access to electricity and increased investment is needed to meet the continent’s fast-growing energy demand. Renewable energy offers an opportunity to accelerate access to clean, affordable electricity and to attract private investment that will create jobs.

Tell Us What You Think! Cancel reply

Related Articles Read More >

ABS to class first Jones Act-compliant offshore wind service operation vessel
Offshore and land-based wind training center opens in Maryland
200-MW East Raymond wind project now powering homes in Austin, Texas region
IEA awarded construction contract for 118-MW Illinois wind farm

Windpower Engineering & Development Digital Edition

Digital Edition

Browse the most current issue of Windpower Engineering & Development and back issues in an easy to use high quality format. Clip, share and download with the leading wind power engineering magazine today.

Webinars
Windpower Engineering & Development
  • Wind Articles
  • Subscribe to Windpower Engineering
  • Advertising
  • Contact Us/About Us

Copyright © 2021 WTWH Media, LLC. All Rights Reserved. Site Map | Privacy Policy | RSS

Search Windpower Power Engineering & Development

  • Home
  • Articles
    • Most recent posts
    • News
    • Featured
  • Leadership
    • 2020 Winners
    • 2019 Winners
    • 2018 Winners
  • Resources
    • Digital issues
    • Podcasts
    • Suppliers
    • Wind Farm Map
    • Wind Turbine Selector Tool
    • Wind Power Videos
    • Webinars
    • Wind Power Events
  • Webinars
  • Videos
  • Subscribe
    • Magazine Subscription
    • Enewsletter Subscription
  • About Us