Genesis Energy, an energy infrastructure development firm, and the US Agency for International Development (USAID) have entered into an agreement to mobilize $10 billion towards renewable energy, nature-based solutions, and climate mitigation measures in Africa.
The collaboration aims to harness private sector investment to assist countries in fulfilling their Nationally Determined Contributions under the Paris Agreement.
Implemented under USAID’s Comprehensive Action Against Climate Change Initiative, the agreement spans the next five years.
Gillian Caldwell, USAID’s Chief Climate Officer and Deputy Assistant Administrator, emphasized, “This partnership underscores our ongoing commitment to empowering the private sector in driving climate change solutions.”
Akinwole Omoboriowo II, Chairman of Genesis Energy, expressed that the partnership will channel funds into projects aimed at accelerating decarbonization efforts across the African continent.
