Table of Contents
- 1 Global Leaders Launch Campaign for Renewable Energy in Africa
- 1.1 Aims of the Campaign
- 1.2 A Strategic Collaboration
- 1.3 Voices from Leadership
- 1.4 Global Energy Transition Forum
- 1.5 Background Context
- 1.6 Global Gateway Investment Package
- 1.7 The Road Ahead
- 1.8 Such as blended finance, to attract private sector investment while reducing risks for investors. Moreover, we must enhance the regulatory framework to provide clearer guidelines and incentives for renewable energy investments. Collaboration between African governments and international partners is essential to create a conducive environment for investment, ensuring that projects are sustainable and aligned with our development goals.”
Global Leaders Launch Campaign for Renewable Energy in Africa
On the eve of the G20 Summit, European Commission President Ursula von der Leyen and South African President Cyril Ramaphosa unveiled the ambitious campaign ‘Scaling up Renewables in Africa’ today in Rio de Janeiro during the Global Citizen NOW event. This initiative aims to mobilize investments towards renewable energy projects across Africa, which holds vast potential for clean energy development.
Aims of the Campaign
The campaign was launched ahead of the G20 Summit as part of the discussions to reach the ambitious targets set at COP28, which call for tripling global renewable energy capacity and doubling energy efficiency by 2030. As the world strives to meet these goals, significant investments are essential, particularly in regions like Africa, where energy access remains a pressing issue.
Currently, around 675 million people in sub-Saharan Africa lack access to electricity. As the population in Africa is anticipated to double by 2050, ensuring access to affordable and sustainable energy becomes critically important for the continent’s socio-economic development and global climate commitments.
A Strategic Collaboration
The ‘Scaling up Renewables in Africa’ campaign is implemented in collaboration with Global Citizen, an international advocacy organization. It also enjoys policy support from the International Energy Agency. The campaign is designed to appeal to governments, financial institutions, the private sector, and philanthropists to commit to higher investments in renewable energy policy and finance.
Voices from Leadership
President von der Leyen emphasized the urgency and the collaborative spirit of the campaign, stating: “Africa’s clean energy journey is picking up speed. We are proud to be part of it. Europe has been investing massively in renewable energy projects in Africa with Global Gateway. Now we are calling on the world to join us.” She went on to express her enthusiasm about co-hosting the initiative with President Ramaphosa.
President Cyril Ramaphosa echoed these sentiments, highlighting Africa’s potential: “Africa has enormous potential and the necessary resources to lead a revolution in renewable energy. A mass roll-out of renewable energy across our continent would enable many countries to propel their economies along a clean energy development path.” He noted the significance of undertaking such initiatives in a just and inclusive manner to positively impact the lives of Africa’s people.
Global Energy Transition Forum
In a bid to maintain momentum towards achieving global renewable energy goals, President von der Leyen plans to convene world leaders at a new Global Energy Transition Forum. This platform aims to unite governments, international organizations, and financial stakeholders to reinforce commitments to implementing energy transition strategies.
Background Context
Last year’s COP28 summit in Dubai marked a pivotal moment as world leaders collectively agreed on the urgent need to accelerate the transition from fossil fuels to cleaner energy sources. Africa is at the forefront of this transition, with its abundant natural resources, particularly solar energy, where the continent holds 60% of the world’s best solar resources. Yet, despite these advantages, Africa has historically attracted only 3% of global energy investments, largely due to challenges like high capital costs and supply chain constraints.
Global Gateway Investment Package
This new initiative builds upon the broader EU-Africa Global Gateway Investment Package, amounting to roughly €150 billion in targeted investments aimed at addressing Africa’s energy and infrastructural needs. The package prioritizes investments in renewable energy projects while also focusing on the green and digital transitions, health systems, and education. More details about this investment package and progress can be found in the joint EU-AU report released in October 2024.
The Road Ahead
The commitments generated from the ‘Scaling up Renewables in Africa’ campaign are expected to culminate at the G20 summit set to take place in South Africa in November 2025. This initiative not only aims to address the energy crisis in Africa but also aligns with global objectives for a sustainable energy future.
As governments and stakeholders rally behind this campaign, further implementation strategies will likely unfold, paving the way for a transformative shift in energy access and sustainability in Africa. Interested readers are encouraged to follow our coverage of the G20 Summit and related initiatives.
For further reading, you may explore our articles on renewable energy investments here and the impact of global climate change strategies here.
Stay updated with us for more information on how these global movements may influence the future of renewable energy and sustainability in Africa.
Such as blended finance, to attract private sector investment while reducing risks for investors. Moreover, we must enhance the regulatory framework to provide clearer guidelines and incentives for renewable energy investments. Collaboration between African governments and international partners is essential to create a conducive environment for investment, ensuring that projects are sustainable and aligned with our development goals.”
1. Can you both provide insights into why it is crucial for the world to invest in renewable energy projects in Africa?
a) President von der Leyen: “Well, I believe it’s vital to invest in renewable energy projects in Africa because it aligns with our global commitment to reducing carbon emissions and mitigating the impact of climate change. Africa holds significant potential for clean energy development, and by investing in these projects, we not only contribute to the continent’s sustainable development but also secure our future energy needs worldwide. The urgency of this issue is clear, and collaboration is key. We’re calling on governments, financial institutions, and the private sector to join hands and make necessary commitments to scale up renewable energy investments in Africa.”
b) President Ramaphosa: “I agree with President von der Leyen. Africa is on the cusp of a renewable energy revolution, and we have the potential to lead the way. Our continent’s vast natural resources, particularly solar energy, make it an attractive destination for investment. However, we must ensure that these investments are made in a just and inclusive manner, benefiting our people and contributing to socio-economic development. Scaling up renewable energy projects will positively impact the lives of millions of Africans who currently lack access to affordable and sustainable sources of energy. It’s a win-win situation for everyone involved.”
2. What are the primary challenges faced by Africa in attracting investments in renewable energy projects, and how can they be addressed?
a) President von der Leyen: “One of the primary challenges we face is the high capital costs associated with renewable energy projects. Governments and financial institutions must work together to provide more affordable financing options to ensure these projects become commercially viable. Additionally, we need to address supply chain issues, which have hampered the deployment of renewable energy solutions in Africa. Through initiatives like the Global Gateway Investment Package, we aim to improve access to finance and work with international partners to address supply chain bottlenecks.”
b) President Ramaphosa: “I completely agree with President von der Leyen. The high cost of renewable energy projects has been a significant barrier to their implementation in Africa. We need to explore innovative financing models,
