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!
Ever wondered about the role exchange rates play in shaping the global economic landscape, especially within the renewable energy industry?
The renewable energy sector is flourishing rightfully, painting a brighter, greener future! Here are the key highlights from the latest IRENA and ILO report: