The China-Africa Renewable Energy Cooperation and Innovation Alliance (CARECIA) was formed to help establish power supplies and transmission systems in Africa through public-private partnership (PPP) projects.
Members to the alliance include finance institutions, smart grid providers and core manufacturers in renewable energy, says China Daily.
Ding Yuxian of the China Industry-University-Research Institute Collaboration Association said that the creation of CARECIA will promote renewable energy.
"We need to combine resources and investment, and the alliance is a good platform for that," said Simon Pierre Adovelande, Benin ambassador to China.
Adovelande suggested that the alliance start with a few pilot projects, before expanding its influence across Africa.
Vincent E. Omuse, commercial counsellor from the embassy of Kenya in China also commented saying,"For any country to be industrialized, energy is important."
Omuse added that Kenya in particular is focusing on solar, thermal, hydro and wind energy, and that the alliance will focus on the most practical, clean energy sources and on financing solutions.
EIB to invest €4.3bn in clean energy
In other clean energy news, the European Investment Bank (EIB) will reportedly invest €4.3bn in renewable energy development, following the bank's new finance package approved last month.
A total of €12.4 billion ($14.7 billion) will be divided among 53 projects in transport, including a new metro line in Paris, infrastructure and energy. Projects focusing on renewable energy development will be concentrated primarily in Western Europe in India.
The EIB said: “These [projects] include onshore wind, hydropower and smart meter projects in Italy, energy efficiency, solar, wind and district heating projects in France, reinforcement and extension of natural gas distribution in Ireland and Spain, and financing of renewable energy in India."
The bank sees natural gas as a key energy contributor and a bridge to lower-carbon energy supplies.
Werner Hoyer, president of the European Investment Bank commented, “The EU Bank is supporting new investment in sustainable transport, renewable energy and helping small companies harness business opportunities."
He added: “The impressive range of new projects approved by the European Investment bank today will improve business opportunities, ensure better access to clean water, green energy, internet and mobile banking, health and education, and upgrade transport for millions of people across Europe and around the world.” Read more...