Whether you are an economist, an energy financier, a multilateral organisation or an investment professional, the 2016 RE Investment Africa Summit is not one to miss.
Energy is at the heart of the society, the economy and the politics of all countries and the globe at large. Renewable energy is expected to supply half of Africa’s new power generation by 2040, according to an October International Energy Agency report.
The potential for renewable energy development in Africa is experiencing an increase in attention lately as investors and world leaders seek a new clean energy frontier.
The main drivers for powering African investments in energy and power utilities have no doubt been the Public Private Partnerships (PPPs). PPPs and infrastructure development are critical.
The continent could become a gold mine for renewable energy due to abundant solar and wind resources, but roadblocks to clean energy are widespread throughout the troubled regions of Africa – financial resources are thin and infrastructure is often unreliable.
Growing concerns regarding the use of conventional energy sources, coupled with the depletion of coal reserves, have brought about several investment opportunities in clean power.
Billions of investments have been made into the RE sector globally, and particularly in Africa. In South Africa, for example, total investment in wind and solar renewable energy plants is R82bn, with the banking sector, insurance companies, pension funds and international investors being the major funders.
The roll-out of renewable energy projects has heightened the importance of energy finance. Moreover, Public Private Partnerships (PPPs) have become central in delivering energy infrastructure projects in Africa.