An initiative on new and renewable energy is on the agenda of the 26th African Summit, scheduled to kick off on Saturday, Egyptian Environment Minister Khaled Fahmy said Friday.

Speaking to MENA, Fahmy said Egypt exerted strenuous efforts at the Paris Climate Change Conference to launch this initiative with the aim of supporting the sector of new and renewable energy in Africa.

France, the Group of 7 (G7) and Canada have promised to pay two billion euros, 10 billion dollars and 150 million dollars respectively to support studies of the renewable energy initiative.

Fahmy stressed that the initiative aims at delivering electricity to 70% of African peoples instead of 30% and luring businessmen to pump investments into the field of renewable energy in the continent.

Source: MENA