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Germany invests in Africa to develop green energy projects

Germany commits €4 billion to invest €3 billion in green energy projects in 13 African countries by 2030, aiming to enhance investments and ensure sustainable energy access.

Germany invests in Africa to develop green energy projects

Germany has pledged €4 billion ($4.35 billion) to develop green energy projects in Africa until 2030. German Chancellor Olaf Scholz described Africa as "the partner of our choice" during a press conference in Berlin. The initiative, initiated under the German G20 presidency, aims to improve investments in partnering African countries.

So far, 13 African countries are part of the initiative, including Morocco, Egypt, Senegal, Guinea, Ivory Coast, Ghana, Togo, Rwanda, and the Democratic Republic of Congo. Scholz called for more private investments and closer cooperation in the energy sector, particularly hydrogen, to realize Africa's enormous economic potential.

Germany's goal is not only to facilitate exports but also to ensure access to sustainable and affordable energy for all Africans. Germany will rely on imports to meet 50-70% of its hydrogen demand in 2030. It recently released a draft plan for developing a €19.8 billion core hydrogen network across Germany, enabling both imports into the country and further domestic distribution to end-users.

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