The Rockefeller Foundation’s Post

The World Bank Launches Bold Energy Access Program For Africa: The DARES Initiative In a recent statement, the World Bank unveiled a groundbreaking initiative aimed at addressing the energy access crisis in Africa, particularly spotlighting Nigeria’s pivotal role in driving the continent’s electrification agenda. With over 600 million people lacking reliable electricity across the continent, urgent and collective action is imperative to bridge this profound gap. Nigeria, despite its abundant energy resources and economic prominence, stands as a stark example of energy poverty. More than 85 million Nigerians remain deprived of electricity, underscoring the urgency of transformative interventions. The World Bank’s initiative, titled Distributed Access through Renewable Energy Scale-Up (DARES), is set to […] Read the full story here: https://lnkd.in/d44FZAXy #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #middleeast #africa #india #asiapacific #asia #africa #nigeria #renewableenergy #solarenergy #worldbank

We're excited to share some insights from the 26th African Energy Forum 2024 (EnergyNet Ltd.) in Barcelona, where leaders, investors, and policymakers gathered to shape Africa's energy future. Here are some of our key takeaways. Would love to hear your thoughts: -Project Financing: Africa needs $200 billion annually by 2030 for electrification, with $130 billion expected from the private sector. Current contributions are much lower. -Project Risk: High investment risks due to currency reliance, inflation, debt, and unfavourable deals necessitate $30-40 billion for "de-risking." Despite these risks, Africa's infrastructure projects have the world's lowest default rates at 5.5%, according to the AfDB. -Transmission Losses: Africa experiences over 30% electricity transmission and distribution losses, compared to less than 10% in developed nations. -Battery Storage: Despite high renewable potential, the continent has less than 1 GW of installed battery storage, hindered by high costs and long development timelines. -Clean Hydrogen: Producing 1% of hydrogen via renewables requires 10 GW of electrolyzers, 20 GW of renewable electricity, and $30 billion in investment. -Oil & Gas Emissions: Emissions from oil and gas extraction and export are significant, despite low overall emissions. -Consumer Impact: Energy contract prices have risen by up to 30% from pre-COVID days, increasing power tariffs. Addressing these challenges requires strategic investment, innovation, and collaboration. #AfricaEnergyForum2024 #Sustainability #Investment #RenewableEnergy #PASH

We're thrilled to share insights from the 26th African Energy Forum 2024 in Barcelona, hosted by EnergyNet Ltd. Leaders, investors, and policymakers gathered to shape Africa's energy future. Here are some key takeaways: Project Financing: Africa needs $200 billion annually by 2030 for electrification, with $130 billion expected from the private sector. Current contributions fall short of this target. Project Risk: High investment risks due to currency reliance, inflation, debt, and unfavorable deals necessitate $30-40 billion for "de-risking." However, Africa's infrastructure projects have the world's lowest default rates at 5.5%, according to the AfDB. Transmission Losses: Africa experiences over 30% electricity transmission and distribution losses, compared to less than 10% in developed nations. Battery Storage: Despite high renewable potential, the continent has less than 1 GW of installed battery storage, hindered by high costs and long development timelines. Clean Hydrogen: Producing 1% of hydrogen via renewables requires 10 GW of electrolyzers, 20 GW of renewable electricity, and $30 billion in investment. Oil & Gas Emissions: Emissions from oil and gas extraction and export are significant, despite low overall emissions. Consumer Impact: Energy contract prices have risen by up to 30% from pre-COVID days, increasing power tariffs. Addressing these challenges requires strategic investment, innovation, and collaboration. #africaenergyforum2024 #sustainability #investment #renewableenergy #PASH

𝐖𝐢𝐭𝐡 𝐭𝐡𝐞 𝐦𝐨𝐬𝐭 𝐝𝐢𝐯𝐞𝐫𝐬𝐞 𝐞𝐧𝐞𝐫𝐠𝐲 𝐬𝐲𝐬𝐭𝐞𝐦, 𝟓𝟎% 𝐨𝐟 𝐀𝐟𝐫𝐢𝐜𝐚 𝐬𝐭𝐢𝐥𝐥 𝐝𝐨𝐞𝐬 𝐧𝐨𝐭 𝐡𝐚𝐯𝐞 𝐚𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐞𝐥𝐞𝐜𝐭𝐫𝐢𝐜𝐢𝐭𝐲.. Africa's energy mix is both diverse and complex. Key energy sources include fossil fuels, especially in coal and gas-rich regions. Hydropower is pivotal, while wind and solar are gaining momentum, driven by high solar potential. However, Africa faces its greatest energy challenge yet. 𝐖𝐢𝐭𝐡 𝟏.𝟓 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐩𝐞𝐨𝐩𝐥𝐞, 𝐢𝐭'𝐬 𝐡𝐨𝐦𝐞 𝐭𝐨 𝟐𝟎% 𝐨𝐟 𝐭𝐡𝐞 𝐰𝐨𝐫𝐥𝐝'𝐬 𝐩𝐨𝐩𝐮𝐥𝐚𝐭𝐢𝐨𝐧, 𝐲𝐞𝐭 𝐚 𝐬𝐭𝐚𝐠𝐠𝐞𝐫𝐢𝐧𝐠 𝟕𝟕𝟓 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐀𝐟𝐫𝐢𝐜𝐚𝐧𝐬 𝐥𝐚𝐜𝐤 𝐚𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐞𝐥𝐞𝐜𝐭𝐫𝐢𝐜𝐢𝐭𝐲. Challenges include rural electrification, infrastructure deficits, financial constraints, and the transition to cleaner energy. Political instability and corruption also hinder progress. Addressing these challenges is essential for achieving widespread, sustainable electricity access and economic development across Africa. 🔖 P.S.: Stay updated on sustainability topics by checking out our TOP10 newsletter, linked in the first comment. #energy #sdg7 #renewableenergy #illuminem

Solar energy is booming in #Nigeria and #SouthAfrica due to power outages and the removal of fuel subsidies in Nigeria, which has exacerbated the situation, increasing the cost of petrol used to power backup power generators and forcing more people to opt for solar. Consequently, solar-power installers are increasingly targeting the mass market as the technology is becoming more affordable, and Nigeria's solar energy adoption is now predicted to increase more than sevenfold by 2030.  Antony Sguazzin OffGridBox Jodie Wu #SolarEnergy #Sustainability #RenewableEnergy https://lnkd.in/e7VcpWvT

Africa's acceptance of renewable energy is driven by the need for sustainability and a desire for economic growth. This transition is spurred by the availability of renewable resources like solar and wind, which can reduce carbon emissions and decrease reliance on fossil fuels. This adaptability and readiness to embrace change are deeply rooted in Africa's history of resilience. The continent has faced various challenges, from colonialism to economic disparities, but it has consistently demonstrated its capacity to innovate and adapt to changing circumstances. A key driver of Africa's adaptability is the recognition that change is necessary for progress. African leaders and citizens understand that outdated practices won't lead to a brighter future. In this context, renewable energy represents a transformative shift towards a more sustainable and economically prosperous future. Governments in Africa are adopting renewable energy policies, setting ambitious targets, and encouraging investment in the sector. Entrepreneurs and startups are emerging, creating jobs and positioning Africa as a hub for renewable energy technology. For instance, #Kenya has invested in geothermal power, reducing reliance on fossil fuels. #Morocco leads in solar energy with one of the world's largest concentrated solar power plants. Small-scale renewable solutions empower local communities, improving lives and fostering economic growth. Africa's commitment to renewable energy is also driven by the need for energy security. Diversifying energy sources reduces vulnerability to supply disruptions and price fluctuations, enhancing energy security and reducing dependence on external sources. The continent's adaptability is evident in its focus on addressing energy access challenges. Initiatives like "Power Africa" are expanding electricity access through renewable energy, improving the quality of life and driving economic activities. Renewable energy also plays a vital role in education and technology. It can power schools and universities, improving education access and fostering innovation. Additionally, healthcare facilities benefit from reliable power, enhancing medical services. In summary, Africa's acceptance of renewable energy is a strategic move towards sustainability and economic growth. This adaptability is deeply ingrained in its history and driven by the need for progress, energy security, and improved living standards. Africa's commitment to renewables positions it as a hub for innovation and development in the sector, benefiting both its people and the planet. #energy #innovation #management #africa #sustainability #unglobalimpact #unitednation

𝗪𝗶𝘁𝗵 𝘁𝗵𝗲 𝗺𝗼𝘀𝘁 𝗱𝗶𝘃𝗲𝗿𝘀𝗲 𝗲𝗻𝗲𝗿𝗴𝘆 𝘀𝘆𝘀𝘁𝗲𝗺, 𝟰𝟯% 𝗼𝗳 𝗔𝗳𝗿𝗶𝗰𝗮 𝘀𝘁𝗶𝗹𝗹 𝗱𝗼𝗲𝘀𝗻'𝘁 𝗵𝗮𝘃𝗲 𝗮𝗰𝗰𝗲𝘀𝘀 𝘁𝗼 𝗲𝗹𝗲𝗰𝘁𝗿𝗶𝗰𝗶𝘁𝘆... Africa's energy mix is both diverse and complex. Key energy sources include fossil fuels, especially in coal and gas-rich regions. Hydropower is pivotal, while wind and solar are gaining momentum, driven by high solar potential. However, Africa faces its greatest energy challenge yet. 𝗪𝗶𝘁𝗵 𝟭.𝟱 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 𝗽𝗲𝗼𝗽𝗹𝗲, 𝗶𝘁'𝘀 𝗵𝗼𝗺𝗲 𝘁𝗼 𝟮𝟬% 𝗼𝗳 𝘁𝗵𝗲 𝘄𝗼𝗿𝗹𝗱'𝘀 𝗽𝗼𝗽𝘂𝗹𝗮𝘁𝗶𝗼𝗻, 𝘆𝗲𝘁 𝗮 𝘀𝘁𝗮𝗴𝗴𝗲𝗿𝗶𝗻𝗴 𝟲𝟬𝟬 𝗺𝗶𝗹𝗹𝗶𝗼𝗻 𝗔𝗳𝗿𝗶𝗰𝗮𝗻𝘀 𝗹𝗮𝗰𝗸 𝗮𝗰𝗰𝗲𝘀𝘀 𝘁𝗼 𝗲𝗹𝗲𝗰𝘁𝗿𝗶𝗰𝗶𝘁𝘆. Challenges include rural electrification, infrastructure deficits, financial constraints, and the transition to cleaner energy. Political instability and corruption also hinder progress. Addressing these challenges is essential for achieving widespread, sustainable electricity access and economic development across Africa. 🔖 P.S.: Stay updated on sustainability topics by checking out our TOP10 newsletter, link in the first comment. #energy #sdg7 #renewableenergy #illuminem

AFRICAS POWER PROBLEM "ISG&P / International Services Group & Partners is an InterContinental Entity / Conglomerate with a focus on Economic Advancement in Africa."   Africa really has a problem with electricity supply; More than 600 million people still do not have access to electricity and the rest suffer daily power outages. This is very bad for the economy in Africa. What can you do in 2024 without electricity? We are not living in 1924 but in 2024. In 2050 the population in Africa will double. So it really is 5 to 12 in Africa, when it comes to energy supply. The public sector in Africa cannot solve this alone, they need the support of the private sector. Unfortunately, the private sector consists largely of small companies and few multinationals in Africa. Collaboration between the public and private sectors supports more widespread deployment of utility-scale power and the adoption of renewable energy projects. By adding battery storage components to the national grid, businesses and consumers can gain quicker access to reliable electricity while the power utility can address peak energy demands more easily. This also ensures that the increasing amount of power generated from utility-scale solar projects can be stored and consumed outside of daylight hours to avoid stranded grid capacity. Africa needs the private sector in the other continents to get the electricity job done. THE OFF GRID SOLAR SYSTEM BUSINESS IS A TRILLION US$ BUSINESS IN AFRICA ISG&P - International Services Group & Partners, is a Dutch-led, InterContinental Initiative. Its Core Business includes Sustainable Infrastructural Investments, Fund and Projects Management, which also contribute to Reduction in Structural Unemployment and Poverty.   ISG&P has been working in Africa for over twenty years and has relevant insights into prevailing African Business Culture.   ISG&P has Ground Teams in most African Countries consisting of Local Professionals who have strong contacts in the Private and Public Sectors. These are led by an ISG&P Regional Manager.   ISG&P is prepared to Advise and Facilitate Investors in making investments in Africa in sectors of their choosing. We can also manage the Investment Portfolio of our Investor Clients.   Let your money work for you in Africa and for millions of Africans, who will also benefit from your investment. ISG&P acts as your Investment Oversight so that your money is well protected. Please check my LinkedIn profile and study the brochure for financiers / investors worldwide. If you have questions, please do not hesitate to contact us.   For Further Enquiries, you may contact us on LinkedIn or WhatsApp ISG&P +228 99750059.

Lets talk about Africa? I delve into the pivotal role Africa is playing in the global energy landscape. From significant growth projections to transformative projects reshaping the continent's infrastructure, the potential for investment and development is immense. Discover why Africa is poised to become a powerhouse in energy production and how innovative strategies are addressing challenges such as sustainability and diversification. Read the full article [https://lnkd.in/d7r77eVt] and join the conversation on Africa's energy future! #insightswithpablocosta #EnergySector #AfricaDevelopment #OilAndGas Source: https://lnkd.in/d7r77eVt

Africa is home to abundant extractive resources bearing significant potential for industrial growth, yet 600 million Africans still lack access to reliable electricity. As the continent seeks to harness these resources for energy security, development finance institutions (DFIs) will play a vital role in mobilizing capital – attracting both public and private sector investments and serving as an intermediate between investors and project developers – as well as creating an enabling environment, mitigating risk, building technical expertise and providing policy and regulatory support. Read more: https://hubs.la/Q02DGGgL0 Gain investment insights & join 50,000+ informed energy leaders. Subscribe to the ECP newsletter https://hubs.la/Q02DGBdN0 #ECPNews #investinAfrica #electricity #energysecurity #investment