Could you give us a brief introduction to ABREC?
The African Biofuel and Renewable Energy Company (ABREC) is an African initiative launched in 2009 to combat the negative effects of climate change effectively, promote and develop renewable energy projects in Africa. It is a holding company, the shareholders of which comprise 15 African states and 6 Financial institutions, and has two main arms: a technical assistance facility and an investment fund, the African Renewable Energes Fund (AREF). ABREC has the status of an international organisation.
The Fund, to be launched at the end of the year, is attached to the African Development Bank (AfDB). The Fund’s objective is to take minority capital holdings in renewable-energy and energy-effi ciency projects.
Could you give a summary of your activity?
©OECD Observer No 296, Q3 2013