African Renewable Energy Fund (AREF) News

African Development Bank closes $200M for first renewable energy fund dedicated to Sub-Saharan Africa.

African Development Bank closes $200M for first renewable energy fund dedicated to Sub-Saharan Africa

The African Renewable Energy Fund (AREF), a dedicated renewable energy fund focused on sub-Saharan Africa, announced during the African Development Bank’s “Energy Week” that it successfully reached its final close at its hard cap of $200 million of committed capital.

Ethiopia's government agreed to purchase power in an accord signed on Monday during President Barack Obama’s visit to the Horn of Africa nation. Photographer Saul Loeb/AFP via Getty Images

Africa's fastest growing economy Ethiopia agrees on first deal for privately produced electricity

Ethiopia’s government signed a deal to buy electricity from a geothermal-power plant being developed by companies including Reykjavik Geothermal Ltd. of Iceland, a partner in the project said.