Africa: Looking Towards a Renewable Future
Rapid industrialisation in many of the economies in Africa have fuelled the need for renewable energy as sources of power to be integrated into their energy mixes in order to maintain the strong pace of economic growth and achieve long-term sustainability goals. Rich in natural resources, Africa is the ideal place where renewable energy is the most viable. It is also estimated that the continent will run massively on solar and wind power to meet its energy news by 2030. Several African governments have been very proactive in tapping into the renewable energy markets and developing their infrastructure to attract more private sector investment. They have also set medium to long-term goals to reduce their reliance on hydro-carbons by developing sustainability frameworks.
Zambia: Zambia is undoubtedly one of the countries that is in the forefront of promoting renewable energy and integrating it into their energy mix. The country is emphasising on solar and wind energy massively to reduce heavy dependence on hydro power. The Green Climate Fund has approved US$50 million in funding for the development of 100MW of renewable projects, mostly in the solar power sector in Zambia. The country is also aiming to complete its first large scale 50 MW solar power plant this September. Zambia is also attracting foreign investment in the renewables sector with Germany dedicating $34.8 million to help implement the country’s Renewable Energy Feed-in Tariff (REFiT) strategy. Southpole Consulting Private Limited has also secured $300 million to construct a 125 MW solar power plant in Victoria Falls. Learn more about energy investment opportunities in Zambia at: https://ametrade.org/zimeczambia/
West Africa: ECOWAS countries have actively integrated sustainable development goals within their agendas and aim to increase their share of renewable energy within their electricity mix. ‘A responsAbility-managed energy company focusing on Sub-Sahara Africa, together with Africa Growth and Energy Solutions (AGES), have signed an agreement to co-develop a 25MW solar PV project in Sierra Leone’s Bo District.’ (https://www.esi-africa.com) West Africa in general is going big on solar energy with the largest solar power station in West Africa officially in November last year, which currently delivers 30MW to the national power grid.