Africa Renewables seeks €30m from investors for green energy projects
14 July 2011
A renewable energy group has announced that it is looking for investors keen to support a project providing biomass developments in Africa.
With offices in London as well as the west of the continent, Africa Renewables (AfriRen) aims to raise the money for the infrastructure plans, which will offer sustainable biomass extraction and exportation, allowing countries to break into the market.
According to renewableenergyfocus.com, almost all biomass imported by the EU comes from the US and through projects such as harvesting redundant rubber trees in Ghana the company will seek to boost Africa's exports.
Sonia Medina, chief operating officer of AfriRen, said: "We aim to become the largest biomass producer in Africa and to treble the amount exported from the continent to Europe over the next four years."
Tanja Faller, energy economist at the African Development Bank, recently suggested that South Africa's green energy industry will be boosted by developing its clean technology solutions.