From 7-9 May over 1,000 leaders from business, government, civil society and academia will attend the World Economic Forum on Africa in Nigeria’s capital, Abuja. Many issues are on the table, though it is to be hoped that the issue of hundreds of schoolgirls still held captive by Islamist militants will be addressed — though some analysts argue that the forum will serve as a distraction rather than a catalyzer for action.
On the economic front, one of the main themes of the Forum will be energy and its regional outlook, from why renewables are the way forward for the continent to how African entrepreneurs are bringing power to the people. Green Alliance, an English think tank, recently published a report that focuses on how low-carbon energy can bring faster development to sub-Saharan Africa — the region which has the lowest energy access in the world, being home to 41% of the world’s energy-poor people, with 65% of primary schools and 30% of health centers having no access to electricity. The report says that “achieving universal energy access in sub-Saharan Africa requires more than a tripling of current capacity. This is a huge challenge. But it also means that expansion of low carbon energy is an opportunity that shouldn’t be missed.”
The lack of infrastructure and of institutionalized energy systems offers opportunities for renewables to break through. The solar resource in the Northern Cape of South Africa is 25% higher than that of Spain, and Spain is considered to be a world-class site, according to Jasandra Nyker, Chief Executive Officer of BioTherm Energy, a renewable energy investment and independent project development platform focused on sub-Saharan Africa (watch her video below). Even if the potential is there, she is well aware of the obstacles to move forward: “The industry still suffers from a lack of competitive financing. The perceived risk of renewables is higher than the actual risk. We need to look at different financing solutions, and private sector to private sector engagement will be key. The private sector will also need to develop innovative technologies that can continue to drive down the cost of production.”
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On the economic front, one of the main themes of the Forum will be energy and its regional outlook, from why renewables are the way forward for the continent to how African entrepreneurs are bringing power to the people. Green Alliance, an English think tank, recently published a report that focuses on how low-carbon energy can bring faster development to sub-Saharan Africa — the region which has the lowest energy access in the world, being home to 41% of the world’s energy-poor people, with 65% of primary schools and 30% of health centers having no access to electricity. The report says that “achieving universal energy access in sub-Saharan Africa requires more than a tripling of current capacity. This is a huge challenge. But it also means that expansion of low carbon energy is an opportunity that shouldn’t be missed.”
The lack of infrastructure and of institutionalized energy systems offers opportunities for renewables to break through. The solar resource in the Northern Cape of South Africa is 25% higher than that of Spain, and Spain is considered to be a world-class site, according to Jasandra Nyker, Chief Executive Officer of BioTherm Energy, a renewable energy investment and independent project development platform focused on sub-Saharan Africa (watch her video below). Even if the potential is there, she is well aware of the obstacles to move forward: “The industry still suffers from a lack of competitive financing. The perceived risk of renewables is higher than the actual risk. We need to look at different financing solutions, and private sector to private sector engagement will be key. The private sector will also need to develop innovative technologies that can continue to drive down the cost of production.”
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