| The AECF renewable energy financing is US $166 million with US $61 million dedicated to REACT SSA.
About 510 million people in sub-Saharan Africa (SSA) currently have no access to electricity and will not get grid access in the foreseeable future, resulting in a steady increase in the number of people without electricity until at least 2025.
The slow progress and high cost of conventional solutions to the household energy crisis means that cheaper and more accessible new clean technologies offer a better chance of improved access to energy for rural households in the foreseeable future. Over the last decade, clean energy technologies have become more economical than conventional generation for many applications, and the regulatory environment to facilitate their application has improved. Risk and market failures restrict innovation and prevent the development and use of successful business models and technologies.
The AECF's engagement in the energy sector under REACT SSA is designed to catalyze the private sector to increase supply of cleaner fuels, raise awareness of the dangers from indoor air pollution, demonstrate how new knowledge in renewable energy technologies can be put into practice in ways that benefit the poor especially women, provide evidence on challenges in policy formulation and implementation