AfDB Approves $58M Grant for Solar Expansion in Eritrea's Gash Barka Region
The African Development Bank has approved $58.04 million for clean electricity access in Eritrea's Gash Barka region, where the electrification rate is 54% and rural access is just 15%. The funding combines a $37.31 million grant from the African Development Fund and a $20.73 million contribution from the Transition Support Facility. The project aims to deploy a 34 MW solar-powered mini-grid, benefiting around 306,000 people and supporting local economic activities.
Theia Market Signal Identification - AI Assisted
The African Development Bank (AfDB) has approved $58.04 million to enhance electricity access in Eritrea's Gash Barka region, with a national electrification rate of 54% and rural access at 15%. The funding consists of a $37.31 million grant from the African Development Fund and a $20.73 million contribution from the Transition Support Facility.
It will support a 34 MW solar mini-grid project for Tesseney, Kerkebet, and Berantu, benefiting around 306,000 people. This initiative is part of the AfDB's Desert to Power initiative, which aims to generate 10 GW of solar power by 2030. The financing highlights the reliance on concessional finance in Eritrea's energy sector, addressing the country's significant energy deficits.
Comments