Solar, wind bodies unite to drive finance into African renewables

• Trade bodies from the solar as well as wind industries have actually united to drive renewable energy financing for African nations.

SolarPower Europe and also the Global Wind Energy Council (GWEC) have authorized an arrangement with news electrical outlet RenewAfrica as well as the Africa Solar Industry Association (AFSIA) to collectively arrange the Africa Renewables Investment Summit (ARIS) in South Africa in September.

ARIS' function will certainly be to catalyse renewable resource financial investment for Africa by bringing significant stakeholders in the industry to discover the continent's green power capacity.

In spite of the continent's capacity for renewable resource, with solar PV blazing a trail of capacity installs by 2030, Africa has actually only gotten 2% of the US$ 2 trillion that was purchased renewables considering that the beginning of the century up till 2020.

Provided the significant separate between solar developers and investors for projects in Africa, ARIS will work as an "perfect matchmaking system" between the stakeholders of sustainable projects, stated John van Zuylen, chief executive officer at the AFSIA.

The event will be held less than 2 months before Egypt is readied to host COP27 which will certainly bring the globe's attention on climate change and also eco-friendly industry with a possibility for Africa to boost financial investments in renewable energy.

Moreover, the summit will additionally discover possibilities the green hydrogen industry could make in the continent as the modern technology has been deemed a high capacity for financial chances for numerous nations.

Scatec's green ammonia project in Egypt and also Namibia's push in bringing green hydrogen financial investments have been several of the key projects announced for green hydrogen in the continent previously this year.

Walburga Hemetsberger, Chief Executive Officer of SolarPower Europe, claimed: "Africa is a true 'sunlight continent'. As African economies expand, they provide enormous capacity for solar investment and also deployment. ARIS is set to sustain next-level solar, and also clean, green, protected energy for countless African citizens."