The UK's power struggle: Private sector investment vs. traditional aid
By Molly Anders // 03 November 2015
The United Kingdom invests more overseas aid in nonrenewable power than renewable power, a recent report by the Overseas Development Institute found, but officials from CDC Group — the U.K.’s development finance institution and owner of Globeleq, the largest energy producer in sub-Saharan Africa — argue that investing in “a mixed energy base load” in some cases makes the most sense for sustainable growth.
“We do invest in renewables, but like anywhere, we know that there has to be stability of energy supply,” Lynsay Taffe, director of communications at CDC Group told Devex.
“Part of that base load has to come from things like gas and more traditional energy forms,” she said, except for coal, which CDC doesn’t invest in.
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About the author
Molly Andersmollyanders_dev
Molly Anders is a former U.K. correspondent for Devex. Based in London, she reports on development finance trends with a focus on British and European institutions. She is especially interested in evidence-based development and women’s economic empowerment, as well as innovative financing for the protection of migrants and refugees. Molly is a former Fulbright Scholar and studied Arabic in Syria, Jordan, Egypt and Morocco.
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