UK Funds $110 Million Climate Project in Mauritius

The African Development Bank and the United Kingdom have announced that Mauritius will receive climate finance as part of the Room to Run Sovereign Program.

The Gas Insulated Switchgear Substations Project in Mauritius has been selected as a beneficiary project under this program, with up to $110 million of the total project cost being made possible through additional capital unlocked by the UK Government guarantee.

Approved in July 2023, the project aims to enhance the reliability of the national grid and facilitate the integration of renewable energy. This aligns with Mauritius’ goal of achieving 60% renewable energy in the electricity generation mix by 2030.

The Room to Run Sovereign Program allows the African Development Bank to provide more funding for climate change projects, with a $2 billion guarantee provided by the UK Government and City of London insurers.

The Gas Insulated Switchgear Substations Project in Mauritius is the sixth project to benefit from this program, following the selection of three other beneficiary projects in Tunisia, Benin, and Kenya, bringing the total finance unlocked by the R2RS to over $400 million.

Both the African Development Bank and the UK Government have expressed their commitment to supporting climate action and clean energy transition in vulnerable countries like Mauritius.

This project is seen as a significant step in achieving the Sustainable Development Goals and promoting a fair climate transition for all.

Source: Social News XYZ