The African Energy Chamber has said that the COVID-19 pandemic has accelerated the need for energy transition in which a reinforced energy divide and increasing energy poverty rates have led to a re-focusing on renewable developments to meet rising demand and address electricity challenges in Africa.
The group disclosed this ahead of its upcoming African Energy Week later this year.
It said:”In response to these challenges, and to facilitate and coordinate Africa’s energy transition, the African Energy Chamber’s (AEC) upcoming African Energy Week (AEW) 2021, an interactive exhibition and networking event taking place on the 9th-12th November in Cape Town, has placed the energy transition as a key focus at the event. Through informative conference sessions, productive networking events, and interactive workshops, AEW 2021 will unite global financiers with African renewable opportunities.
“Additionally, AEW 2021 incorporates multiple sectors in one exclusive event. By integrating oil and gas, renewables, and investment in a comprehensive event program, AEW 2021 serves to promote Africa’s energy transition while recognizing the role of traditional sectors”
It said despite decreasing costs of renewable technologies accelerating developments, financing, intermittency, and feasibility challenges characteristic of renewables continues to hinder economic growth.
It said the role of natural gas in addressing electricity demand while facilitating a transition to cleaner fuel sources has been identified.
It added: ” Africa’s abundant natural gas resources – 221.6 trillion cubic feet of proven reserves are in sub-Saharan Africa alone – have the potential to address global energy demand. Additionally, natural gas is considered an ideal ‘stepping-stone’ to climate friendly energy sources. The development and utilization of natural gas can ensure socioeconomic growth through energy poverty alleviation and enable the renewable energy market enough time to adequately develop”
It said,in Africa, energy poverty remains a significant concern with over 640 million people lacking access to electricity.
With energy poverty comprising a direct hinderance to economic growth, there has been a renewed focus on renewable power generation developments to meet rising demand, address electrification targets, and comply with global climate initiatives.
It added:”In a bid to fast-track renewable developments and establish an enabling environment for investment, many African countries have implemented renewable supportive policies and regulations. Specifically, countries such as Morocco with its Law 13-09 providing a legal framework for the development of renewable energy; Egypt’s net-metering scheme to promote distributed solar; and South Africa’s Integrated Resource Plan, have established investor confidence, leading to increased developments”
