Indian Ocean countries get USD-15m from EU for renewables

Jun 7, 2013 - The European Union (EU) will donate EUR 15 million (USD 20m) to member-countries of the Indian Ocean Commission (COI) to back the development of renewable energy and energy sustainability projects, the COI said on Wednesday.

The financing programme will be implemented for a five-year term and will involve the states of Comoros, Madagascar, Mauritius and Seychelles, COI Secretary General Jean-Claude de l’Estrac said.

The projects to be developed under the scheme will provide the COI member countries with better access to renewable energy sources. In addition, they are to enhance the development, investment and sustainable management of renewable energy capacity in these regions.

At present, Indian Ocean countries are highly dependent on imported fossil fuels, the COI noted.

(EUR 1.0 = USD 1.325)

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