European and African business leaders and heads of state have announced a raft of clean energy and infrastructure investments at the recent Africa Forward Summit in Nairobi. Forty companies announced plans to invest roughly 27 billion euros ($31.5 billion) across about 30 projects in Africa. They aim to generate a combined 100 billion euros ($116.5 billion) in revenue while employing more than 600,000 people across the continent. The wider goal is to deepen industrial ties and accelerate Africa’s transition to low-carbon power. Energy attracted the largest share of investments, roughly 14 billion euros ($16.3 billion). Agriculture, human capital, finance, AI, industrialization and the blue economy were also a focus. Kenya and France jointly hosted the May 11-12 gathering, which organizers said was designed to build a “partnership of equals.” Africa and Europe, particularly France, have historically had a contentious relationship rooted in colonialism. Commitments on renewable energy French utility EDF confirmed plans for 2 gigawatts of hydropower projects across several African countries. French oil and gas major TotalEnergies outlined more than $10 billion in new investments by 2030, including $2 billion for renewable power in Rwanda and $400 million for clean cooking initiatives in Kenya, Uganda and Tanzania. TotalEnergies will also work with Ellipse Projects on the construction and renovation of hospital infrastructure worth $700 million. Infrastructure investor Meridiam announced $200 million to double the capacity of Kenya’s Kipeto wind project, while Global Telecom Holding pledged $350 million for a 250-megawatt solar farm in Zambia. AXIAN Group and partners committed…This article was originally published on Mongabay

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