NAIROBI, Kenya Jun 26 – NAIROBI, Kenya, Jun 26 – Clean energy advocates have welcomed Bloomberg Philanthropies’ new $285 million commitment aimed at accelerating renewable energy deployment globally, saying the investment could help remove longstanding barriers slowing the transition in emerging economies.

📻 Breaking It Down

The funding, announced in London by UN Secretary-General’s Special Envoy on Climate Ambition and Solutions Michael R. Bloomberg, seeks to strengthen clean energy industries and institutions as electricity demand continues to surge worldwide.

Wangari Muchiri, Founder and CEO of RE.Think Energy, said the initiative sends a strong signal that the global energy transition has moved beyond proving renewable energy works and is now focused on scaling deployment fast enough to meet growing demand.

“Bloomberg Philanthropies’ commitment sends a powerful signal that the next phase of the energy transition is not about proving clean energy works — it’s about removing the barriers preventing it from scaling fast enough,” Muchiri said.

📌 What You Need to Know

She noted that emerging and developing economies are experiencing rapidly increasing demand for affordable and reliable electricity, making investments in market reforms, regulatory systems and clean energy ecosystems critical.

“Investments that strengthen market design, regulatory capacity, and regional clean energy ecosystems are essential to unlocking the full economic and climate benefits of the transition,” she added.

Bloomberg Philanthropies said the new funding will focus on supporting countries responsible for nearly 70 percent of global power sector emissions by strengthening clean energy industry associations, improving technical expertise, expanding financing opportunities and supporting policy reforms.

The initiative also aims to help solar and wind energy generate more than half of electricity in targeted countries by 2030.

At RE.Think Energy, Muchiri said the organization supports efforts aimed at removing regulatory, infrastructure and financing bottlenecks that continue to slow clean energy deployment across developing economies.

“We are strongly aligned with this approach and are keen to see more clean energy projects progress as longstanding regulatory, infrastructure, and financing barriers are removed,” she said.

📰 Source: Capital FM Kenya