While Kenya is pushing for an insurance plan to help shore up investment, the EU subsequently announced it would provide 100 million Africans with clean and sustainable energy by 2020.
The Africa-EU Energy Partnership, launched Tuesday in Vienna by high-ranking officials from the EU and African Union, will have an initial capital of $6.5 million which will go toward 10,000 MW of hydropower, 5,000 MW of wind turbines, and 500 MW of solar power.
"Africa has a vast untapped renewable energy potential, ranging from hydro, to solar, wind, geothermal, and biomass, which could be used to ensure millions of people access to electricity."
Austrian Foreign Minister Michael Spindelegger, in the opening speech of the meeting, said better access to energy is the "key to Africa’s sustainable economic development."
Energy Commissioner Guenther Oettinger said that the Desertec Initiative will be a prime example of the EU’s work to help further develop Africa’s energy sector while also integrating wind farms and biomass.
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