The UK government has committed £98 million for renewable energy in Africa, as part of a package to help developing countries tackle climate change. Trinity advised the UK government, alongside its consortium partners Portland Advisers and Evolution Markets, to design the Green Africa Power project, or “GAP”.
GAP aims to stimulate private sector investment in renewable power generation in Africa, financing approximately 270MW of new renewable energy generation capacity.
In addition, the UK will make a £14 million contribution to the ‘Get Fit’ project which is supporting the development of small-scale on-grid renewable energy projects in Uganda. Trinity is advising the German development finance institution KfW in respect of a Get Fit project in Uganda.
Arriving in Doha for the UN’s annual climate talks, Secretary of State Edward Davey said ‘Climate change is a global threat and with every passing year, the nature and the extent of that threat grows clearer. Climate finance is fundamental to building resilience and capacity for countries to mitigate and adapt to climate change.’
Trinity is pleased to be part of these initiatives to create and implement financial instruments with donor country funding in order to assist in the mitigation of the effects of climate change.