Germany’s Federal Ministry for Economic Affairs and Climate Action (BMWK) will provide an additional €126 million ($128 million) for 14 ongoing decarbonisation projects in the Middle East, Africa, Asia and Latin America through the International Climate Initiative (IKI).
Federal Minister for Economic Affairs and Climate Action Robert Habeck said Germany is providing additional funds under the IKI to drive forward the energy transition and increasing investments in solar and wind is crucial for the same.
Renewable energy, energy efficiency, cooling and green hydrogen projects get a total of €51 million. This includes:
- €5 million to five countries including Morocco and Tunisia for Energy Efficiency in Buildings programme (PEEB).
- €6 million for cooling program to Southern African countries Botswana, Namibia, South Africa and Eswatini.
- €5 million for market ramp up of green hydrogen to Morocco, South Africa and Argentina.
- €2.5 million to Kenya for PtX hub project.
Additionally, two projects totalling €55.75 million are under preparation, and dedicated towards ambitious renewable energy expansion and efficient sector coupling in the MENA region, and to Thai-German cooperation on energy, transport and climate protection, according to an announcement on IKI’s website.
Another €75 million will be allotted to mobilise large-scale investments in renewable energy and establish carbon pricing mechanisms.
(Writing by Sowmya Sundar; Editing by Anoop Menon)