Shell Foundation signs MoU with British International Investment providing US$245 million for clean energy projects in Africa and Asia

News Flash

  • Shell Foundation recently signed a memorandum of understanding (MoU) with British International Investment (BII), the UK’s development finance institution and impact investor, to work in partnership to support the just and inclusive energy transition in sub-Saharan Africa and South Asia.

Through the MoU, the institutions will provide investment to help address the finance barriers that exist for early to mid-stage businesses in sectors aligned with BII’s strategic priorities and SF’s charitable objectives including, but not limited to, distributed renewable energy, e-mobility and agri-tech, as well as supporting cross-cutting solutions in the areas of climate and gender inclusion.

Under this partnership, BII and SF will endeavour to make up to $245m financing available by 2026 to private sector projects that support investment into high-impact sustainable and clean energy solutions in sub-Saharan Africa and South Asia.

Author: Bryan Groenendaal

Leave A Reply

About Author

Green Building Africa promotes the need for net carbon zero buildings and cities in Africa. We are fiercely independent and encourage outlying thinkers to contribute to the #netcarbonzero movement. Climate change is upon us and now is the time to react in a more diverse and broader approach to sustainability in the built environment. We challenge architects, property developers, urban planners, renewable energy professionals and green building specialists. We also challenge the funding houses and regulators and the role they play in facilitating investment into green projects. Lastly, we explore and investigate new technology and real-time data to speed up the journey in realising a net carbon zero environment for our children.

Copyright Green Building Africa 2024.