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Tuesday 15 October 2024

Africa's Renewable Energy Push Gains Momentum at Nairobi Investment Forum


The Accelerated Partnership for Renewables in Africa (APRA) has launched its inaugural Investment Forum in Nairobi, bringing together ministers, investors, developers, and financial institutions to advance the continent’s renewable energy landscape. The forum aims to build a strong pipeline of projects and unlock large-scale investments, accelerating Africa’s energy transition while promoting the development of green industries.

Led by Kenya, this event is a crucial step toward fulfilling the Nairobi Declaration's target of boosting Africa’s renewable energy capacity to 300 GW by 2030. This ambitious goal aligns with global objectives, including the COP28 initiative to triple renewable energy capacity worldwide by the decade’s end. APRA countries, including Ethiopia, Ghana, Namibia, Rwanda, Sierra Leone, and Zimbabwe, present significant opportunities for scaling renewable projects that address both global climate commitments and Africa’s energy needs.

Over three days, the forum will feature high-level panels, technical discussions, matchmaking sessions for developers and financiers, and a project exhibition spotlighting renewable initiatives from across Africa. These activities will highlight how the continent's energy transition can drive economic growth through renewable industries.

"The success of global climate goals is tied to Africa realizing its renewable energy potential," said Francesco La Camera, Director-General of IRENA. "APRA is setting a new standard for international cooperation, aligning global support with Africa's priorities. This inaugural forum marks a key moment in mobilizing finance and turning ambitious plans into actionable results."

For his part Hon. J. Opiyo Wandayi, Kenya’s Cabinet Secretary for Petroleum and Energy, stated: “Under President Ruto’s leadership, which championed both the Nairobi Declaration and APRA, Africa's energy transition is gaining unprecedented momentum. The APRA Investment Forum is a significant milestone, mobilising critical investments to support Africa’s sustainable development at home while accelerating progress on global climate and energy transition goals.”

Mr. Joseph Nganga, Vice President for Africa at the Global Energy Alliance for People and Planet said: “APRA’s inaugural forum builds on the momentum of the 2023 Africa Climate Summit and the Africa 

Leaders Nairobi Declaration, accelerating progress toward Net Zero and unlocking crucial climate finance. By aligning with the efforts of the World Bank, African Development Bank, and partners like GEAPP, the Rockefeller Foundation, and SEforAll, we are committed to connecting 300 million unelectrified Africans to clean, affordable power by 2030—fuelling economic growth, job creation, and climate resilience. APRA serves as a vital platform, uniting investors, governments, and project developers to create an ecosystem that fast-tracks low-carbon electrification across the continent.”

APRA’s membership will expand to engage more countries with high ambitions for renewable energy and green industrialisation in Africa and beyond. 

Backed by IRENA, which serves as the APRA secretariat, the partnership is supported by Denmark, Germany, the United Arab Emirates and the United States, in addition to technical, advocacy and philanthropic actors including GEAPP and the Rockefeller Brothers Fund.     

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