ICA meeting will support ‘Light Up and Power Africa’ initiative
12 May 2016
The Infrastructure Consortium for Africa (ICA) is to support and help drive forward the African Development Bank’s ‘Light Up and Power Africa’ initiative at an event in Lusaka, Zambia on 26 May 2016.
Timed to coincide with the African Development Bank’s annual meetings, which will take place between 23 and 27 May 2016, the Financing Renewable Energy in Africa meeting will bring together key public and private sector player to discuss the traditional and innovative funding available for financing renewable energy to meet Africa’s extensive energy needs.
The discussion will be moderated by Dr Jacqueline Chimhanzi, Senior Strategist at the Industrial Development Corporation (IDC) and panellists scheduled to take part include the Honourable Dora Siliya, Zambia’s Minister of Energy and Water Development; Ulrika Modéer, Sweden’s State Secretary for International Development Cooperation; Muhamet Fall, Acting Director of Operations, Multilateral Investment Guarantee Agency (MIGA); and Dr Henning Wuester, Director for Knowledge, Policy and Finance Centre, International Renewable Energy Agency (IRENA).
CEOs of commercial and industrial users, senior officials from energy ministries and regulatory institutions, representatives from financial institutions and project developers are expected to attend.
Discussion will focus on issues such as the role of renewable energy projects in enabling Africa’s prosperity; the challenges to financing renewable energy projects; the role of power utilities in financing renewable energy, and the role of Governments, Regional Economics Communities, the private sector and partner nations in enabling renewable energy finance for Africa. The ICA anticipates that the meeting will result in concrete proposals in three main areas:
- Action at a policy level to promote renewable energy development;
- How to promote technology transfer for different renewable energy technologies, and equipment manufacture in Africa;
- How to boost private sector participation, including by local banks, in renewable energy development and financing.