IKEA and Rockefeller Foundations to launch renewable energy platform

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Last week, two foundations announced a joint plan to launch a significant renewable energy platform focused on backing distributed renewable energy projects around the world to provide clean, reliable power to the estimated 800 million people who lack electricity, many of whom are in Africa. The IKEA Foundation and The Rockefeller Foundation are the new platform’s sponsors and together will provide matching funds to the platform, aiming to catalyze a total of $1 billion for renewable energy investments.

“Big, bold, and pioneering collaboration and investment are required not only for the short term but also the long term, to galvanize a better future,” said Rajiv Shah, The Rockefeller Foundation’s President. “That is why we are announcing our largest commitment to date and joining forces with IKEA Foundation to double that investment. Our partnership will unlock the financing and resources that are essential to provide clean, reliable electricity that improves the lives and livelihoods of people everywhere.”

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