Aware of the need to work together to promote transition to clean energy systems for enhanced energy security, supporting central human capabilities, as well as ensuring a safer environment against climate change, African states founded the African Biofuel and Renewable Energy Company (ABREC) in 2009 to promote the uptake of renewable energy and energy efficiency in Africa.
The Company was initiated and founded by ECOWAS Bank for Investment & Development (EBID), Eco bank and others sub-regional financial institutions. In its first phase of operations the Company raised financial support from the member countries of the organization as well as six financial institutions.
In 2012 the Company became self-funded in line with its aim to act as an independent advisory body to the public as well as to the private sector. Having obtained the status of a diplomatic organization, the Company now aims to mobilize further funding through a series of strategic partnerships.
The Board of Directors responsible for decisions regarding operations of the Company works to ensure strategic direction of the operation of ABREC. Headed by the Chairman and CEO of ABREC, the Board is the decision making body for core activities, including identifying potential projects, providing technical assistance to governments and mobilization of financial resources for clean energy and energy efficiency investment.
The headquarters of the Company based in Lomé host a compact team that works to ensure cohesion in the implementation of the work program of ABREC.
For more information: http://www.saber-abrec.org.