Green Africa Power LLP (GAP) has received confirmation from the Norwegian Ministry of Foreign Affairs that it has signed a Letter of Arrangement with the PIDG Trust to provide up to Norwegian Kroner 300 million (£26 million) to be drawn down over the period from December 2014 until September 2016.
The funds can be used to enhance GAP's existing commitment to the existing operations of investment in renewable power generation in the poorer parts of sub-Sahara Africa.
This will increase the size of the GAP commitment to £121 million and will come under the management services agreement GAP signed recently with EISER Infrastructure and their partner Camco Clean Energy.
By funding GAP, Norway will also become a member of PIDG.
Commenting on this, GAP Chairman Jim Cohen said:
'It is really exciting that Norway has fully committed to our project. We have been working with them over several months now. Norway has an impressive record in the renewables field so we hope we can also tap into that expertise to the overall benefit of our programme.'
Norwegian Minister of Foreign Affairs, Borge Brende, said:
'More than 700 million people in Africa lack electricity, and the continent is in urgent need of investment in renewable energy. Norway will therefore contribute NOK 300 million to Green Africa Power. The UK has already made a substantial contribution to the fund. With the additional funding from Norway, our two countries will be joining forces to fund renewable energy projects, reduce carbon dioxide emissions and improve access to clean energy for millions of people in Africa.'