Minister of Environment Khaled Fahmy said an initiative on new and renewable energy that has been approved by Paris Climate Change Summit will be floated at the African Summit in Addis Ababa next month.

In statements to MENA on Sunday, Fahmy said Egypt succeeded in getting a fund for the initiative from Paris conference as Canada agreed to provide dlrs 150 million, France dlrs 2 billion and France dlrs 3 billion.

He went on to say that this sum will be raised at the African Summit which tasked Egypt with raising the funds at the climate change summit.

Fahmy pointed out that the aim of the initiative is to increase power supply to the African population from 30 to 70 percent so that Africa could get 300 gegawatt by 2030.

He also said that the initiative aimed at luring financial resources for the renewable energy projects so as to challenge the climate change phenomenon in the African continent.