Financing of renewable energy projects for a sustainable energy model in West Africa

Africa is favorably positioned to become the second fastest growing region in the world. In view of the various economic, political and social reforms that are taking place across the continent, the business environment has greatly improved and is more conducive to foreign investment. This growth must be linked to sustainable development and improving energy infrastructure.

Despite abundant renewable resources in West Africa in general no major investments in the energy sector. The Economic Community of West African States (ECOWAS) need to ensure sustainable access to electricity in urban and rural areas in order to boost productivity increased economic activity in the region solutions.

The Instituto Tecnológico de Canarias (ITC) and the Center for Energy Efficiency and Renewable Energy in ECOWAS (ECREEE) organized the seminar with the aim of showing the possible funding mechanisms for energy and the prospects for renewable energy development in the countries West Africa. This joint event will share common interests, creating advantageous synergies and giving participants the opportunity to exchange experiences in the field of energy.

Currently, ITC leads cooperation projects in West Africa with the aim of promoting the development and integration of renewable energies in our geographic environment countries, such as project INTERMACAN and project RENOW.

The INTERMACAN project is co-financed by the European Regional Development Fund (ERDF) under the Operational Programme Cooperation for Cross-border and features External Borders-Spain 2008-2013 (POCTEFEX) collaborations with the University of Las Palmas de Gran Canaria (ULPGC ) and the National Agency for Development of Renewable Energy and Energy Efficiency (ADEREE) region of Morocco. The project promotes research infrastructure electrical interconnection for the maximization of renewable energy in the Tarfaya (Laayoune-Boujdour-Sakia El Hamra Region) and the Canary Islands.

The RENOW project is co-financed by the European Regional Development Fund (ERDF) under the Transnational Cooperation Programme Madeira - Azores - Canaries 2007-2013 (PCT - MAC) and has the support of Mauritania, Senegal, Cape Verde and Canary Islands . The project aims to develop a strategy for the development of renewable energies in the Euro-African Atlantic space.

In this seminar, participating as speakers:

- Specialized financial institutions in international cooperation programs
- Public authorities of participating countries
- Institutions and European companies specialized in the field of renewable energies
- Experts from ITC and ECREEE
- Partners of INTERMACAN and RENOW projects

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