GreenVenture is excited to venture into Africa's renewable energy market! As Africa accounts for one-fifth of the global population, it's time to address investment gaps and drive sustainable development across the region.
The "Financing Clean Energy in Africa" report by IEA & African Development Bank emphasizes that energy investment needs to double to over $200 billion per year by 2030 for Africa to reach its energy-related development goals and nationally determined contributions.
However, the cost of capital for energy projects is 2-3 times higher in Africa than in advanced economies & China, hindering investments. To overcome this, we need innovative financing solutions and collaboration between private investment, development finance institutions (DFIs), and donors.
By 2030, $28 billion of concessional capital can mobilize the required $90 billion in private investment for clean energy, enabling growth and access in both the commercial and non-commercial sectors.
Let's work together to accelerate Africa's renewable energy journey, bringing clean, accessible energy to millions!