AREMI, Renewable Manufacturing Initiative for Africa Launched

• The Africa Renewable Energy Manufacturing Initiative (AREMI) at Abu Dhabi Sustainability Week, UAE to step up financial investment as well as action for renewable energy development in African countries.

To target 1.2 TW growth of renewable energy in the continent

Sustainable Energy for All (SEforALL), the African Climate Foundation, Bloomberg Philanthropies, ClimateWorks Foundation, and also the Chinese Renewable Energy Industries Association (CREIA) have with each other launched the Africa Renewable Energy Manufacturing Initiative (AREMI) at Abu Dhabi Sustainability Week, UAE, with an unbiased step up financial investment and also action for renewable energy advancement in African nations to scale up renewable energy manufacturing capabilities.

The team said that AREMI will certainly help unleash renewable energy growth of 1.2 TW, create 14 million jobs as well as 6.4 per cent economic growth in regards to GDP. AREMI will support the monetary, technological, and socioeconomic investments needed for green transition in the resource scared continent.

Players establishing AREMI said that Africa has globe's 60% ideal solar sources. The continent can become an international green manufacturing hub that can have solar PV growth to 650 GW by the middle of this century.

The new initiative will concentrate on capacity building, understanding transfer, policy dialogues, and advocacy. Four programs will help in low-emission development as well as carbon neutrality in Africa. One, AREMI will certainly companion with African government officials to accelerate policymaking for green manufacturing. 2, it will certainly help scale training, employment, and also occupation development opportunities. 3, it will help bring in green manufacturers to Africa by identifying ideal operating models and scale green capacity financial investment. As well as four, it will also incubate African green manufacturing projects and policies.

AREMI will foster better South-South cooperation as well as increase energy capacity with worldwide collaborations. AREMI will enhance coordination between the governments in Africa and also the Global South for green energy advancement as well as enhanced decarbonisation.

SEforALL likewise introduced a new report called-- Africa Renewable Energy Manufacturing: Opportunity and also Advancement-- which analyzes renewable energy manufacturing circumstance in Africa as well as considers different methods to accelerate the local renewable energy market. The report, on the sidelines of making of AREMI, likewise offers a roadmap to aid achieve a just, equitable, and also green energy change in the continent.

The report recognizes key eight nations that have medium and also high potential of solar power as well as solar industry: Algeria, Egypt, Ghana, Morocco, Namibia, South Africa, Tanzania and also Tunisia. The study also states the existing obstacles to finance and also factors key policy areas for countries to act upon to draw in foreign investment.

Discussing the formulation of AREMI and also the report, Damilola Ogunbiyi, Chief Executive Officer as well as Special Representative of the UN Secretary-General for Sustainable Energy for All as well as Co-Chair of UN-Energy, mentioned, "Ending energy destitution, saving lives, and avoiding a greater energy crisis implies buying and also scaling up sustainable and renewable advancement projects in Africa. That requires both public and personal financing to drive renewable energy manufacturing capacity in African nations. With the Africa Renewable Energy Manufacturing Initiative, African nations will certainly be able to reduce the energy gap, more economic development, and also enable a just and also equitable energy shift."