IFC and Gaia Energy form green power partnership in Africa

The International Finance Corporation has formed a new partnership with Moroccan renewable energy developer Gaia Energy to create a joint platform for the development of wind power and other renewable projects in Africa.

The joint platform will start with a pipeline of 22 projects in nine countries in North, West and East Africa, representing a pipeline under development of more than 3GW.

It will be implemented under IFC InfraVentures, a $150 million global infrastructure project development fund, and will also be supported by the €114 million Finland-IFC Blended Finance for Climate Program.