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Constructed by China's Sinohydro Corporation and financed by a $1.4 billion loan from the Export-Import Bank of China (Exim Bank), the project aims to increase Uganda's electricity generation capacity and reduce the country's reliance on thermal energy.. Constructed by China's Sinohydro Corporation and financed by a $1.4 billion loan from the Export-Import Bank of China (Exim Bank), the project aims to increase Uganda's electricity generation capacity and reduce the country's reliance on thermal energy.. Chinese energy investment in Africa has traditionally focused on large-scale projects backed by policy banks, but there has been a growing shift towards smaller projects and commercial financiers (Image: Kepseu / Xinhua / Alamy) Over the past two decades, Chinese financing in Africa has boomed and. . Chinese President Xi Jinping and foreign leaders attend the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC). Credit: Xinhua / Alamy Stock Photo New data reveals a rebound in Chinese financing of renewable energy projects in Africa in 2023, following a lull over the past few years.. From 2010 to 2021, China provided $65 billion in financing for renewable projects across the continent. Chinese solar and wind tech exports to Africa rose 153% between 2020 and 2024. Renewable energy accounted for 59% of the 49 energy projects announced in Africa in 2024 by Chinese companies. . But underneath all the hype and hope, there are a few stories about transformational changes that are important to entire nations or even entire continents. One of them involves Africa, where more than 600 million people have no access to reliable electricity. That puts them about a century behind. . Through strategic initiatives like the Belt and Road Initiative (BRI), China has financed and constructed numerous energy projects across Africa, ranging from hydroelectric dams to renewable energy installations. These investments aim to address Africa's energy deficits, boost economic growth, and. . Loans to Africa have been driven by China's policy banks in support for coal and hydropower, but a more diverse cast of creditors could steer support towards greener ventures. Renewable energy projects – particularly those in solar, wind and hydroelectric power – typically secure long-term power.
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