The APRA Investment Forum (IF) for renewable energy being held in Nairobi, Kenya from 14 to 16th, 2024, saw the teaming together of stakeholders drawn across the African continent and its neighbors in the discussion aimed at accelerating progress towards energy renewables. Under the secretariat of IRENA, The forum came about the world’s pressing need to boost investments in renewable energy. This is with the African continent being a contributor for energy with the efforts to curb climate change.
Housing 17% of the world population, Africa’s untapped efforts for investments in renewable energy has placed the continent at a critical point in the fight of climate issues. Overtime investment in energy from fossil fuels with its upshots has called for the attention to have a change in direction by harnessing and investing in the potential of renewable energy within Africa.
Speaking earlier on at the opening of the 3-day forum, IRENA Director General, Francesco La Camera, stated the need for adaptable efforts to catch up with the changing dynamics in Africa and the world. This is with recognition of Africa’s potential to generate renewable energy.
“We recognize the potential that exists in Africa and consider it our duty to ensure that all our members effectively navigate energy transitions and maximize benefits. This is not only a matter of climate change, it is a matter of equality, fairness and inclusion.” He noted.
With the achievement of better affordable and clean energy counting a sustainable development goal, the director general emphasized the need for adapting a faster and better approach for renewable energy across the African continent in tackling the challenges affecting humanity.
“The time for convincing is behind us and the world knows that business case of renewables is strong with markets are moving in that direction.” He added.
Present during the inauguration ceremony, the Kenyan Cabinet secretary for Energy and Petroleum. Hon Opiyo Wandayi, stated his call to action with Africa to tie knots in the speeded efforts to solve global challenges in the energy sector. The CS stated the greater influence the energy sector holds in the achievement of the Paris decree. With Kenya being at the center of the discussion, He also outlined the country’s efforts towards generation of renewables across the African continent.
“Many countries across Africa have embraced renewable energy to accelerate their energy transition efforts. Kenya itself stands as a leader, with over 90% of our electricity coming from renewable sources primarily geothermal, wind, and solar. However, despite the progress made, Africa as a whole is still lagging in renewable energy development. This disparity underscores a critical need for targeted, meaningful investment from both the public and private sectors.” He said.
The director general noted the good progress made in the adoption of renewable energy since 2015 with the IRENA data showing 473 GW of renewable energy capacity added in 2023 globally. This indicates that 87% of newly installed energy capacity was renewable with only 13% emanating from fossil fuels and nuclear combined.
Despite the notable adjustments, efforts in the achievement of a better synergy within the African continent remains untapped. This is with Africa accounting for only 1.6% of the global share of installed renewable power capacity with the larger 85% share taken by Asia, Europe and North America by the end of 2023.
Speaking during the ministerial debate, the stakeholders highlighted the need for countries having an elaborate policy system and framework that will see an expanded space for adoption of renewables. This is with nations fostering local interventions, enhancing regional integration as an important concept of getting synergies and the call for better financing to close the power gaps. Hon Opiyo Wandayi, the Kenyan CS for energy highlighted the countries progress in its geothermal capacity in production.
“Kenya as a country is keen in taking deliberate steps towards development of a better energy base. Emphasis is being put on geothermal with the country having a huge potential at the geothermal space.”
Having been founded at the COP28 climate summit in 2023 with 7 member states within Africa, APRA’s belief in Africa as the potential continent for renewables continue to gain momentum with Africa remaining hopeful in welcoming investments both from public and private investors.
In his closing remarks, the IRENA Director General, Francesco La Camera underscored the need for collaboration and focus in the realization of renewable energy for a better future.
“As we continue building on the momentum from this Forum, it’s crucial that we remain focused on delivering measurable progress and staying united in our shared vision for a sustainable energy future.”
