Africa Renewable Energy Initiative (AREI)
The Africa Renewable Energy Initiative aims:
- To help achieve sustainable development, enhanced well being, and sound economic development by ensuring universal access to sufficient amounts of clean, appropriate and affordable energy
- To help African countries leapfrog towards renewable energy systems that support their low-carbon development strategies while enhancing economic and energy security
The initiative is set to achieve at least 10 GW of new and additional renewable energy generation capacity by 2020 and at least 300 GW by 2030. AREI supports two different types of projects:
- Policy development projects (governance interventions like capacity building, economic instruments like guarantees and feed-in-tariffs, etc.)
- Renewable Energy Installation projects
AREI is in Phase I (2017-2020), where assessments, preparations, and enabling activities are being undertaken to lay the groundwork for Phase II (2020-2030), which will focus on roll-out of nationally determined policies, programs, and incentives.