Irrespective of increasing debt constraints and a proliferating
population, Chinese-subsidised funding is expediting energy
infrastructure development throughout the region.
Furthermore, its rapidly increasing deployment of automated
technologies over the next two decades implies the renewable
energy realm will become progressively self-optimising and
efficient. As new technological advancements, including battery
storage and microgrids, become more affordable and durable,
the continent’s renewable energy revolution is set to expand,
powering Africa’s growing economic proficiency.
The DRC secured a new deal to provide electricity to 10 million citizens
by 2024.
reliable and clean power by 2024, and once successfully
implemented could lead to the creation of 100 000 local jobs.
The accord with Bboxx shows the Congolese government's
aspirations to incorporate renewable solutions to improve
the country’s energy access and drive sustainable economic
development and may encourage other renewable energy
companies to pursue similar contracts with the DRC.
AN AFRICAN RENEWABLE
ENERGY REVOLUTION
Africa’s abundant clean energy resources, coupled with
new investments in renewable energy technologies, have
spearheaded Africa into a clean energy revolution. As reported
by the International Energy Agency (IEA), renewable energy is
believed to constitute about 50% of sub-Saharan Africa’s power
generation growth by 2040, consequently accelerating Africa’s
novice economies.
Receiving more sun than any of its continental counterparts,
along with its vast geothermal, wind and wave energy capacity
and progressive energy policies, Africa has immense potential
to leapfrog fossil fuels. Renewable energy applications are
essentially decentralised and similarly inexpensive. In effect,
several African nations are currently implementing strategies
to harness renewable energy solutions to capitalise on such
benefits. For instance, sustainability has increasingly become a
key focus for Rwanda and Ethiopia, while Kenya has pledged a
complete transition to clean energy.
Africa is a rapidly emerging investment opportunity. Home to
several of the globe’s fastest-growing economies, the African
region is forecast to sustain an overall economic growth of 3.8%.
Incidentally, 20 African economies are projected to expand
at an average rate of 5% or higher over the next five years.
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There is a close correlation between energy consumption and
economic development. Africa’s population of more than 1.3
billion people renders an immense and mounting need for
reliable energy. By 2040, sub-Saharan Africa is predicted to
consume as much electricity as Latin America and India did in
2010 combined. Deployment of solar panels, small-scale wind
and hydro innovations, as well as energy saving mechanisms,
could lead to clean energy technologies offsetting the
exhaustive investments traditionally required for energy.
The US Department of Energy predicts that utility solar PV costs
will fall 60% by 2050. Coupled with the declining price of battery
storage, wind and solar could support a distributed energy
infrastructure that drives both Africa’s social and economic
development for decades to come.
Long-term capital investment is essentially the key to Africa’s
clean energy future. Where Africa’s vast renewable energy
resources remain unexploited, the public sector’s capacity to
spearhead both clean energy financing and technology transfer
has enormous potential to substantively transform the region as
we know it.
With this said, Africa’s renewable energy revolution is a prevalent
theme to be thoroughly explored at the upcoming Africa Energy
Indaba, the continent’s most revered event of its kind. Focused
panel discussions will be hosted discussing key issues including:
• Democratisation, building energy businesses and access to
energy for all
• Decentralisation, the role of renewable energy and mini
and off-grid solutions
• Energy Storage, unlocking large scale use of renewable
energy.
MINES CAN SAVE COSTS
THROUGH SOLAR AND WIND
As one of the most energy-intensive industries, the mining
sector is starting to seriously consider the significant cost-
African Mining
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