At the beginning of 2024 Africa has come to a key juncture in its renewable energy rollout. The potential of technologies such as wind and solar energy to help close the continent’s energy access gap is now beyond doubt. Across Africa, however, there are multiple challenges in accelerating the speed and scale of the drive for renewables. Roughly half of Africa’s population, around 600m people, lacks access to electricity; millions more endure an unreliable or intermittent supply. Solar, in particular, has a key role in bringing more reliable access. Most of Africa enjoys excellent conditions for solar generation; and solar is well-suited for both utility-scale projects and smaller schemes designed to serve homes and businesses in remote areas. Last year’s COP28 climate conference, along with the Africa Climate Summit held in Nairobi last September, reaffirmed the importance of renewables on the continent. But whether 2024 will see donors and development finance institutions (DFIs) turn commitments into action remains to be seen. The International Energy Agency (IEA) estimates that $28bn in concessional capital is needed each year up to 2030 to mobilize $90bn in private sector investment – a more than tenfold increase from the present level. Investing in energy and power infrastructure in Africa and forming partnerships to support such investments is essential for several reasons:

Millions of people in Africa still lack access to reliable and affordable energy services. Partnering in energy and power investments can help expand access to electricity, improving the quality of life for communities and facilitating economic development.

Access to affordable and reliable energy is crucial for driving economic growth and industrialization. Partnering in energy infrastructure projects can provide the necessary power supply to support businesses, attract investment, and stimulate economic activity across various sectors.

Africa has abundant renewable energy resources, including solar, wind, hydro, and geothermal. Partnering in renewable energy investments can harness these resources to diversify the energy mix, reduce reliance on fossil fuels, and mitigate greenhouse gas emissions, contributing to climate change mitigation efforts.

Investing in energy and power infrastructure requires significant investment in transmission and distribution networks, grid modernization, and power generation facilities. Partnering in energy projects can drive infrastructure development, enhancing energy reliability, efficiency, and resilience.

Oil and gas projects require extensive infrastructure, including pipelines, refineries, terminals, and storage facilities. Partnering in oil and gas investments can drive infrastructure development, benefiting not only the energy sector but also ancillary industries and local communities through improved access to transportation and utilities.

Energy and power projects create employment opportunities across the value chain, from construction and installation to operation and maintenance. Partnering in energy investments can stimulate job creation, skill development, and capacity building, particularly in local communities and industries.

Diversifying the energy mix and expanding domestic energy production enhances energy security by reducing dependence on imported fuels and volatile international markets. Partnering in energy projects can strengthen energy security, improve energy independence, and promote long-term stability and resilience.

Rural areas in Africa often face challenges in accessing electricity due to their remote locations and limited infrastructure. Partnering in rural electrification projects, including mini-grids and off-grid solutions, can extend energy access to underserved communities, empowering rural populations and supporting agricultural productivity, healthcare, and education. Public-Private Partnerships (PPPs): Energy and power projects often require collaboration between public and private sector stakeholders to mobilize financing, share risks, and leverage expertise. Partnering in PPPs can facilitate the development of energy infrastructure projects, leveraging the strengths of both sectors to deliver sustainable and impactful outcomes. Overall, partnering in energy and power investments in Africa is critical for addressing energy poverty, promoting economic development, advancing renewable energy deployment, enhancing energy security, and improving the quality of life for millions of people across the continent. Collaborative efforts between governments, businesses, development organizations, and local communities are essential to unlock the full potential of Africa's energy sector and achieve sustainable energy access for all.