Financing Africa’s green energy revolution

Financing Africa’s green energy revolution

Africa relies on traditional biomass and waste fuels for almost half of its primary energy supply. An estimated 600 million people still lack access to electricity, and household air pollution resulting from the combustion of wood, dung, and charcoal leads to the death of an estimated 600,000 Africans each year.

The continent therefore urgently needs a massive rollout of modern energy services to improve the quality of life and the productivity of its underserved and rapidly growing population. Such a development would also power industrialization and urbanization.

At the same time, the world needs Africa to leapfrog to a low-carbon energy regime to help avoid catastrophic global climate change. But who will fund it? This structural transformation in Africa’s energy sector will require innovative financing mechanisms to unlock the continent’s vast renewable energy, potential and meet burgeoning demand, thereby boosting inclusive and sustainable development.


Date: May 2018

Read the article

Tags assigned to this article:
Africa @enclimate changeenergy policyrenewables

Related Articles

For the first time, solar will be the top new source of energy this year

For the first time ever utility-scale solar projects will add more new capacity to the nation’s grid than any other

Aligning policies for a low-carbon economy

Outside of countries’ core climate policies, many of the regulatory features of today’s economies have been built around the availability

UK islands used to test $14m storage and renewables model

An energy storage and renewables project on the UK’s Isles of Scilly is aiming to become a low carbon energy