Page 13 - AfrElec Week 24 2021

AfrElec NEWS IN BRIEF AfrElec

energy resources—day or night—will help
accelerate West Africa’s economic and social
transformation.”
Over the past decade, the World Bank
has financed close to $2.3bn of investments
in infrastructure and reforms in support
of WAPP, considered the key to achieving
universal access to electricity by 2030 in the 15
ECOWAS countries. This new project builds
on progress and will finance civil works to
accelerate access in Mauritania, Niger, and
Senegal.
to help meet its growing energy demand. an electricity interconnection project to WORLD BANK
The 2015 INIR mission to Kenya made exchange 3,000 megawatts of power. The
15 recommendations and eight suggestions. project was reportedly going to cost $1.6bn,
Areas for further action included establishing with its first phase due operation in the FUNDRAISING
the key goals and requirements to guide the beginning of 2023.
nuclear power programme, and setting up the Berkeley Energy raises
necessary legal and regulatory framework.
A follow-up INIR mission on 8-11 June €130mn for second African
assessed Kenya’s progress and had a hybrid INVESTMENT
format, with two IAEA experts travelling to Energy Fund
Kenya and two international experts from West Africa: $465mn
Ireland and Spain participating virtually. Renewables developer Berkeley Energy has
The follow-up INIR team said that Kenya approved for regional raised €130mn ($157.5mn) in the first close of
had completed 10 of the recommendations the Africa Renewable Energy Fund II (AREF
and four of the suggestions from the 2015 electricity access II).
review. Progress included: development of The fund, which has a final target of
the National Nuclear Policy and the National The World Bank Group has approved a €300mn, will target investments in hydro,
Policy and Strategy for Safety to enable the regional electricity access project in West wind and solar projects across sub-Saharan
government to make an informed decision Africa for a total amount of $465mn. This will Africa, excluding South Africa, and aims to
on whether to introduce nuclear power; see countries in the region expand electricity back mid-sized grid-connected projects of
enactment of a national nuclear law and to over a million people. between 10-100MW.
establishment of a regulatory body with Countries in the Economic Community of Engaged in the development and operation
clear responsibilities for safety, security and West African States (ECOWAS) will expand of clean energy projects across emerging
safeguards; completion of an assessment of the access to grid electricity to over one million markets, Berkeley hopes AREF II will provide
national legal framework and identification people, enhance power system stability for clean and accessible energy whilst stimulating
of other laws needing review; and enhanced another 3.5mn people, and increase renewable local economies through employment
coordination among key stakeholders in the energy integration in the West Africa Power opportunities.
development of a nuclear power programme. Pool (WAPP). AREF II demonstrates that Berkeley’s
IAEA The new Regional Electricity Access and “technically orientated approach resonates
Battery-Energy Storage Technologies (BEST) with our investors and makes a material
Project – approved by the World Bank Group difference for the communities in which we
TRANSMISSION for a total amount of $465mn – will increase operate,” said managing director Luka Buljan.
grid connections in fragile areas of the Sahel, The fund’s financing structure incentivises
Egypt plans electricity build the capacity of the ECOWAS Regional commercial private capital to invest into
Electricity Regulatory Authority (ERERA),
sub-Saharan Africa and follows the previous
interconnection with Saudi and strengthen the WAPP’s network operation deployment of the first AREF, which also
with battery energy storage technologies
invested in renewable energy in the region.
Arabia infrastructure. GDP is rising, with electricity demand set
Sub-Saharan Africa’s population rates and
This is a pioneering move that makes way
Egypt will be launching a 2,000-megawatt for increased renewable energy generation, to more than double by 2040. This requires
electricity interconnection project with Saudi transmission around $100bn in power infrastructure
Arabia over the coming period, said the “West Africa is on the cusp of a regional investment, according to the International
Arab republic’s Minister of Electricity and power market that promises significant Energy Agency.
Renewable Energy, Mohamed Shaker. development benefits and potential AREF II investors included seven
Tenders for implementing the project for private sector participation,” stated development finance institutions – CDP,
have been finalised, Shaker added on the Charles Cormier, practice manager in the CDC, FMO, Proparco, Swedfund, Sustainable
sidelines of the first forum of heads of African Energy Global Practice at the World Bank. Energy Fund for Africa – and the Clean
investment agencies. “Bringing electricity to more households Technology Fund.
Egypt and Saudi Arabia penned a and businesses, improving reliability, and BERKELEY ENERGY
cooperation agreement in 2021 to implement harnessing the region’s substantial renewable

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