Huge investment needed for African renewable energy projects
6 April 2011
Some $356 billion (£218 billion) worth of investment is needed for renewable energy projects in Africa between now and 2030, it has been suggested.
The World Energy Council Africa regional manager Dr Latsoucabe Fall has claimed that a fundamental change in investment, financing, technology, markets and policy is needed for success in the sector, engineeringnews.co.za reported.
Speaking at the Power and Electricity World Africa conference in Johannesburg, Mr Fall noted that regional and sub-regional co-operation was vitally important for this target to be met.
"Developing, enlarging and freeing up markets at national, regional and global levels is fundamental to creating momentum for the African energy sector, as well as solving supply and demand challenges," he noted.
According to the expert, the African energy sector is facing a number of challenges including a low level of access to services.
To tackle these, he said that it would be important to harness Africa's significant energy resources, develop clean energy systems and secure a diversified energy mix.