Photo credit: www.irena.org
APRA Ministers and Partners Gather to Align International Cooperation and Scale Up Investments to Match Africa’s Renewable Energy Goals and Potential
Nairobi, Kenya, 14 October 2024 – The Accelerated Partnership for Renewables in Africa (APRA) Investment Forum commenced today in Nairobi, bringing together ministers, investors, project developers, and financial institutions. The aim is to facilitate open dialogue, enhance the development of a substantial project pipeline, and attract significant investments to expedite the energy transition while advancing green industries in APRA member countries.
Led by Kenya, this forum represents a critical step in actualizing the Nairobi Declaration and the Call for Action to elevate the continent’s renewable energy capacity to 300 GW by the year 2030. This initiative ties into the broader objective set by COP28 to triple global renewable energy output by the end of the decade. The collaboration with APRA-affiliated nations such as Ethiopia, Ghana, Kenya, Namibia, Rwanda, Sierra Leone, and Zimbabwe opens up new avenues to meet commitments, fulfill previous pledges, and bolster both local and global climate action efforts.
The three-day event encompasses high-level panels and technical discussions, along with matchmaking opportunities between project developers and financial institutions. Additionally, a project exhibition will provide visibility for renewable energy initiatives from across the continent, featuring real-world case studies that emphasize both the energy transition and the economic prospects generated through renewable-centric industries.
“The potential of Africa’s renewable energy resources is crucial to achieving global climate goals,” stated IRENA Director-General Mr. Francesco La Camera. “APRA exemplifies a new standard for international partnerships, ensuring that support from wealthier nations is tailored to align with Africa’s specific priorities. The inaugural forum in Nairobi is a pivotal moment in this collaborative effort, bringing together vital stakeholders to mobilize financial resources and transform objectives into concrete results.”
Kenya’s Cabinet Secretary for Petroleum and Energy, Hon. J. Opiyo Wandayi, remarked: “Under the leadership of President Ruto, who has been a strong advocate for both the Nairobi Declaration and APRA, we are witnessing unprecedented momentum in Africa’s energy transition. This investment forum marks a key milestone in mobilizing the essential funding required to support Africa’s sustainable development while contributing to global climate and energy goals.”
Mr. Joseph Nganga, Vice President for Africa at the Global Energy Alliance for People and Planet, noted: “The inaugural APRA forum capitalizes on the momentum generated from the 2023 Africa Climate Summit and the Nairobi Declaration. It accelerates our journey towards achieving Net Zero and accessing crucial climate finance. By collaborating closely with institutions like the World Bank and the African Development Bank, alongside partners including GEAPP and the Rockefeller Foundation, we aim to provide clean and affordable energy to 300 million unconnected Africans by 2030. This initiative is fundamental to stimulating economic growth, job creation, and enhancing climate resilience. APRA serves as a pivotal platform that unites investors, governments, and developers to foster an ecosystem that promotes rapid low-carbon electrification throughout the continent.”
APRA is set to broaden its membership to include additional countries that share ambitious goals for advancing renewable energy and green industrialization across Africa and beyond.
Supported by IRENA as the APRA secretariat, this partnership receives backing from Denmark, Germany, the United Arab Emirates, and the United States, along with contributions from technical, advocacy, and philanthropic entities such as GEAPP and the Rockefeller Brothers Fund.
For more details on the APRA Investment Forum, click here.
Source
www.irena.org