Innovate UK is offering £20 million of the country’s funding to develop innovative renewable energy projects in Sub-Saharan Africa, South Asia and Southeast Asia. Innovate UK is the innovation agency as part of the United Kingdom Research and Innovation organisation.
The agency’s Energy Catalyst competition aims to drive development of products and services that will help countries access secure, low cost and low carbon energy, media reports said. The competition is co-funded by the UK’s Department for International Development.
In January, Africa received £50 funding boost for its renewable energy infrastructure from the UK. As part of the initiative, the UK will support African countries with technical skills and expertise to further attract investments in renewable projects. These projects include wind and solar farms.
In this context, Department for Business, Energy and Industrial Strategy tweeted “Today we announced a £50 million investment package for clean energy projects across Africa. We will work with African countries to deliver green solutions and help leapfrog coal – bringing clean energy to thousands of people and creating jobs.”
It appears that the continent’s energy demand will increase by 60 percent by 2040. This necessitates financial and technical assistance from developed countries to complete and build new renewable projects.
Business and Energy Secretary Andrea Leadsom said: “Our world-leading scientists and financial experts will work hand in hand with African nations to support their quest for energy security, powering new industries and jobs across the continent with a diverse mix of energy sources while promoting economic growth.”