Page 10 - AfrElec Week 49

AfrElec RENEWABLES AfrElec

IRENA, AfDB to scale up renewable

investment in Africa

AFRICA THE International Renewable Energy Agency by 2030.
(IRENA) is to work with the African Develop- Further analysis shows that the energy tran-
ment Bank (AfDB) to promote investment in sition would boost GDP, improve welfare and
low-carbon energy projects across the continent stimulate up to 2mn additional green jobs in
in a bid to drive forward the energy transition. sub-Saharan Africa by 2050.
The two signed a declaration of intent this “The African continent has some of the most
week that outlined a framework of core activities. abundant renewable energy resources in the
These include co-organising renewable world and the potential to transform outcomes
energy investment forums as part of IRENA’s for millions of people through the accelerated
contribution to the Climate Investment Plat- deployment of a renewables-based energy sys-
form, and collaboration on the Bank’s annual tem. Renewables will increase energy security,
Africa Investment Forum. create green jobs, advance energy access, includ-
The two will place strong emphasis on con- ing clean cooking, and help build resilient Afri-
crete support for enhancing the role of renewable can economies,” said La Camera.
energy in Nationally Determined Contributions “This agreement represents the type of co-or-
(NDCs) and sustainable development objectives. dinated international co-operation that is the
The joint declaration was signed by Francesco cornerstone of the realisation of sustainable
La Camera, Director-General of IRENA, and development in Africa and the achievement of
Kevin Kanina Kariuki, Vice-President, Power, Paris Agreement goals,” he continued.
Energy, Climate and Green Growth at the AfDB. “We will pursue an action-oriented agenda
“Driven by the aspiration to harness Africa’s that puts African countries on a path to realising
huge renewable energy potential, the AfDB is their full renewable energy potential.”
today at the forefront of investing in renewable The declaration also provides for collabora-
energy in Africa. The Bank’s partnership with tion on the AfDB’s Desert to Power Initiative,
IRENA will advance this aspiration and support which aims to mobilise public and private fund-
Africa’s energy transition and our goal to achieve ing to install 10 GW of solar power by 2025 in
universal access to affordable, reliable, sustaina- 11 countries in the Sahel region of the African
ble and modern energy in Africa by 2030,” Kar- continent.
iuki said. The two institutions will also engage in capac-
IRENA said in its Global Renewables Outlook ity building and knowledge exchange activities to
report, released earlier this year, that sub-Saha- reinforce joint efforts and co-operate on devel-
ran Africa could generate 67% of its power from oping regional and national renewable energy
indigenous and clean renewable energy sources case studies.™

P10 www. NEWSBASE .com Week 49 10•December•2020