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Amin Adesina’s problem started last September when he publicly announced at the U.N. climate talks in New York that he was working on a plan to scrap coal power stations across the continent.
He said: "Coal is the past, and renewable energy is the future. For us at the African Development Bank, we're getting out of coal...There's a reason God gave Africa sunlight."
In June 2019, the Trump admin unveiled a plan to help the coal industry https://www.ft.com/content/0da01384-92b0-11e9-aea1-2b1d33ac3271
The AfDB funded coal power projects in the past, including $1.5bn loan to South Africa’s Eskom for its Medupi coal plant and also the Sendou plant in Senegal. Under Adesina w/ the UN, they’re beginning to fund renewable energy projects. It makes sense to do so.
The AfDB will no longer finance coal projects: https://ieefa.org/african-development-bank-makes-no-coal-financing-pledge/
What this means is that ongoing coal power project will become “stranded assets”. In fact, the World Bank rebuffed Eskom when it applied for a loan to finish the Medupi power plant and the AfDB ended up taking it up because it’s SA.
Why is Dr. Adesina being harassed? I don’t know!
What you should know is that the Bank is investing $20bn in a 10,000MW solar zone in the Sahel https://www.afdb.org/en/topics-and-sectors/initiatives-partnerships/desert-power-initiative
What you should know is that the Bank is investing $20bn in a 10,000MW solar zone in the Sahel https://www.afdb.org/en/topics-and-sectors/initiatives-partnerships/desert-power-initiative
The AfDB wants to double its climate financing and accelerate investments in clean energy and renewable power projects. A lot of money is at stake in terms of financing deals and construction contracts. The kind of deals decided by multinationals and ‘big countries’
Some Western countries (shareholders of the bank) feels that since they’re making the largest investment in the bank, they should be able to dictate the kind of projects and companies to be engaged by the bank. Which, I think is fair but if you wanna buy me a shoe...
I should be able to state my choice of size and color. Right?
The Trump USAID is now running the Power Africa 2.0 program, an iteration of the Obama era program that promoted renewable energy. This 2.0 is about pushing “affordable” fossil fuels.
The Trump USAID is now running the Power Africa 2.0 program, an iteration of the Obama era program that promoted renewable energy. This 2.0 is about pushing “affordable” fossil fuels.
I think Adesina fooled them into thinking he was in on their “global fossil fuel alliance” and it got too late for them to realize they were being played. That’s how you do when you studied politics under Obasanjo
. Now they wanna ambush him at the election.
. Now they wanna ambush him at the election.
