Senegal has struck a $2.74 billion deal with France, Germany, the UK, Canada and the EU that will see it develop its renewable energy sector and advance to a low-carbon economy. “Additional financing may be mobilised during and beyond this period to support Senegal’s ambitions,” the EU said in a statement. Senegal second African country to seal a Just Energy Transition Partnership (JETP) dealThis agreement follows the EU-African Union summit in 2022 proposing the establishment of new partnerships for “a just energy transition in Africa” – essentially calling on wealthier Western nations to assist Africa in its energy and climate change ambitions. Senegal and the IPG will draft an investment plan within 12 months, identifying the investments required and the opportunities to implement its vision of a just and equitable energy transition. Senegal President Macky Sall said: “The multifaceted crises we are experiencing today are straining African economies, particularly in their significant efforts devoted to economic development, access to energy and industrialisation.

Source: The North Africa Journal June 23, 2023 14:46 UTC