The fund supports energy-related projects that benefit the environment for example by reducing greenhouse gas emissions, increasing the use of renewable energy or improving energy efficiency.
The drive towards renewable energy is a priority in Malabo. With investments in solar and wind energy projects, the city aims not only to meet its energy needs but also to position itself as a leader in sustainable energy supply in the region.
The Gambia, the European Union (EU) and the European Investment Bank (EIB) have announced the signing of a €24 million EU Global Gateway grant agreement – alongside an €8 million loan from the EIB – to support the implementation of a renewable energy on- and off-grid generation .
The Albanese Government is supporting Palau's renewable energy transition by investing a further $16. 4 million to upgrade the country's electricity network infrastructure.
Saudi Arabia has strengthened its position as a future clean energy supplier to Europe through a series of agreements signed in Riyadh, aimed at establishing export corridors for renewable energy and green hydrogen.