The United Arab Emirates, on Tuesday, announced an investment of $4.5 billion in clean energy projects for Africa during a landmark climate summit hosted by Kenya, which is aimed at attracting funding to combat global warming.

“We will deploy $4.5 billion… to jumpstart a pipeline of bankable clean energy projects in this very important continent,” said Sultan Al Jaber, who heads the government-owned renewable energy firm Masdar, the UAE’s national oil company ADNOC and the COP28 climate talks.

Heads of state, government and industry leaders, are among thousands of attendees at the Nairobi summit, where Africa is promoting its potential as a clean energy powerhouse.

The Africa Climate Summit will be followed by the COP28 summit later this year in Dubai, which is expected to feature competing agendas for the world’s energy future.

Source: AFP