African Bio-fuels and Renewable Energy Fund
The African continent has rich supplies of natural resources and high potential for biofuels in renewable energy. Despite this fact, less than 2% of Clean Development Mechanism (CDM) projects currently originate from the African continent due to higher perceived risks by investors. The ABREF is being set up to help overcome barriers and facilitate greater flows of investment into African biofuel and renewable energy projects in such a manner which promotes sustainable development while at the same time contributing towards the reduction of greenhouse gas emissions in the atmosphere.
Objectives of the Fund
The fund will contribute to the development of the biofuel and renewable energy industry in the African region, with a particular focus on West African countries. In doing so, the fund will aim to provide investors with superior returns through investments in biofuels and renewable energy projects which will generate Certified Emission Reductions (CERs). Investors in the fund will receive CERs as part of their investment in the fund.
Target countriesAll African countries
But in the first phase (2008) the amphasis will be placed on the ECOWAS countries : Benin, Burkina Faso, Cabo Verde, Côte d’Ivoire, Gambia, Ghana, Guinea, Guinea Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo.
Types of Projects
The fund will consider any projects which have an ability to generate Certified Emission
Reductions (CERs) through the Clean Development Mechanism of the Kyoto Protocol. In
particular, the fund will focus on investing in and procuring CERs from the following project
- Fuel-Switching to Biomass Energy
- Hydro power
- Methane leakage
- avoidance from gas pipelines
- Methane capture from landfills
For More Information Please Contact: :
Mr Thierno Bocar TALL, Head of Project.
128 Boulevard du 13 Janvier B.P 2704, Lomé, TOGO
Tel: +228 221 68 64 | Fax: +228 221 86 84 / 222 81 51
Email: email@example.com Internet: http://www.faber-abref.org