Genesis Energy, a New Zealander energy infrastructure development firm, and the U.S. Agency for International Development (USAID) have signed an agreement to mobilize $10 billion toward renewable energy, nature-based solutions, and climate mitigation measures in Africa. This collaboration aims to leverage private sector investment to assist countries in meeting their Nationally Determined Contributions under the Paris Agreement. The agreement, implemented under USAID’s Comprehensive Action Against Climate Change Initiative over the next five years, underscores a commitment to supporting the private sector in driving climate change solutions.
The partnership directs funds toward projects that will accelerate decarbonization efforts across Africa, signaling a significant step in promoting sustainable development in the region.