Billions pledged for Africa’s clean energy at summit

Kenyan President William Ruto has sought to use the Africa Climate Summit in Nairobi to shift the narrative on the region, presenting the clean energy transition as a unique opportunity for Africa — if it can attract the financing to realize its potential.

Jaber, who is also president of the COP28 climate summit, said a consortium including Masdar would help develop 15 gigawatts of clean power by 2030. It is billed as bringing together African leaders to define a shared vision for green development on the diverse continent of 1.4 billion and set the tone for a flurry of international diplomacy leading up to the COP28 meeting.

Despite an abundance of natural resources, just three percent of energy investments worldwide are made in the continent.“Renewable energy could be the African miracle but we must make it happen,” Guterres told government and industry leaders. Speakers at the summit have doubled down on calls to reform global financial structures to align with climate and green development goals.

Source: Energy Industry News (energyindustrynews.net)

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