The Global Energy Transition presents an opportunity for Africa to utilize its green natural resources and achieve the growth its people have desired for the last 2-3 decades. Africa can play a significant part in Energy Transition due to the following factors:
- Africa has the potential to supply large volumes of energy, if its undeveloped Variable Renewable Energy (VRE: solar/wind) and Low Carbon Solutions (LCS: hydrogen/battery storage) projects are developed.
- Although Africa’s 1.4Bn populace currently contributes 3-4% of global CO2 emissions, these levels are anticipated to increase with population and economic growth. Participating in green energy projects will provide new sources of energy to meet the currently unmet demand and replace less sustainable sources of energy production.
- Many African countries are among the most vulnerable to global warming effects such as droughts, floods, and unforeseen climate disasters. Contributing to abatement and/or reduction of CO2 emissions will help address this significant risk.
The success of such ‘Clean Energy Projects’ in Africa face many headwinds such as the lack of local know-how, infrastructure & grid insufficiency, limited financing, regulatory issues and a nascent, if not non-existent, eco-system.
The INSEAD Africa initiative has hosted several webinars promoting awareness of the opportunity and challenges of doing business in Africa, including the impact of ESG on Africa. This INSEAD Global Energy Club webinar will focus on
1) What the clean energy opportunity in Africa is.
2) What sources of capital are available and where they are being deployed.
3) What challenges green project operators face and how they could address the concerns of financiers.
4) How Africa could, in general, capitalise on this opportunity.
Panelists:
- Edu Okeke, Managing Director, Azura Power (an Independent Power Producer in Nigeria, Senegal and Mozambique)
- Tom Gray, Legal Counsel, Solar Century Africa (a solar projects developer and operator, part of the BB Energy Group)
- Bassem Abou Nehme, Senior Investment Officer, Infrastructure and Natural Resources, Africa Region at IFC (a member of the World Bank Group)
Moderator:
- Tabrez Khan, Partner, GENesis Advisory (GEMBA’23, championing African Energy development)
