There is light at the end of the renewable power tunnel

Judging by comments at the World Future Energy Summit in Abu Dhabi recently, and recent statements by the South African Wind Energy Association, investment in the renewable energy sector is declining in Africa in general and in South Africa in particular. Evidence, however, indicates that far from experiencing a "rolling blackout", such investments face a clean, well-lit future.

A number of considerations support this. First, Africa is experiencing a remarkable growth surge that will require substantial infrastructure investments. Second, there is time pressure to roll out new power generation to address a rapidly declining reserve capacity in South Africa. Third is the increasing cost burden of carbon emissions; and finally, there is the opportunity to align fixed investment — such as renewable energy projects that provide tangible social and developmental advantages — with local procurement policies, skills training and employment for the rapidly growing population both in the rural and urban areas.

Africa’s population stands at just more than 1-billion and is expected to double by 2050. According to a report by the International Renewable Energy Agency (Irena), titled Africa’s Renewable Future, in 2012, more than 590-million Africans (57% of the population) had "no access to electricity", and 700-million (68% of the population) were "living without clean cooking facilities".

More than 40% of the population lives in rural areas.

Separate economic reports put Africa’s growth at an average rate of 4% per year, and claim that over the past decade sub-Saharan Africa had six of the world’s 10 fastest-growing economies. READ MORE»

Source: BusinessDay   #IFAMAFRICA