The much-anticipated Africa Energy Indaba 2020, held in collaboration with strategic partners, the World Energy Council, NEPAD Agency and SANEA yet again proved to be a resounding success. The symposium was hosted last week at the Cape Town International Convention Centre in Cape Town, South Africa. The conference proved highly efficacious in addressing key issues impacting the African energy sector while solutions to best mitigate these concerns were devised and debated at length.
The upcoming Africa Energy Indaba is proud to announce its continued strategic partnership with the World Energy Council. Dr Angela Wilkinson, Secretary General & CEO, World Energy Council stated: “Investment in energy transition for Africa is not all about finance or technology, it’s really about people – quality access for families, livelihoods, communities, dignity, and a healthy planet. It’s time to rethink investment in energy for humanity.”
The world is rapidly moving towards sustainable sources of energy and renewable energy is at the forefront of this evolution. The demand for renewable energy technologies has skyrocketed globally. Africa’s abundant renewable energy resources including hydro, solar and wind have been adapted to the growing demand with innovative off-grid solutions.
The Minister of Mineral Resources and Energy, Gwede Mantashe revealed on Tuesday that government is looking forward to creating a new entity with the ability to generate power independently from Eskom. He communicated to the audience that government will provide license-free permission to mining companies to generate power for their own consumption.
Africa’s abundant clean energy resources, coupled with new investments in renewable energy technologies, have spearheaded Africa into a clean energy revolution. As reported by the International Energy Agency (IEA), renewable energy is believed to constitute approximately 50% of sub-Saharan Africa’s power generation growth by 2040, consequently accelerating Africa’s novice economies.
Prevalent topics with particular reference to Africa’s energy sphere, are set to form the core of discussions at the 12th Africa Energy Indaba. Interactive dialogues and key outcomes emanating from these themes will provide business growth opportunities for Africa’s energy sector and inspire the necessary transformation within this realm.
The African Continental Free Trade Area agreement (AfCFTA) will constitute the world’s largest free trade area, consolidating an integrated market of 1.3 billion consumers with a combined gross domestic product (GDP) of approximately $3.4 trillion. The objective is to realise a continent-wide single market for goods and services with free movement of business, persons and investments.
Energy storage coupled with renewable energy ensures supply is less intermittent, thereby solving balancing and system reliability issues. A new report commissioned by IFC and ESMAP finds that energy storage deployments in emerging markets are expected to grow 40 percent annually over the coming decade, resulting in about 80 gigawatts of new storage capacity.
The Africa Energy Outlook 2019 report states that cumulative investments of $2.6 trillion are required between 2019 and 2040 to meet Africa’s rising energy demand
Energy is a key driver for Africa’s economic growth. The business opportunity linked to developing Africa’s energy infrastructure and the electrification of the continent will be a key focus of the 2020 Africa Energy Indaba. For over a decade, the annual Africa Energy Indaba has served as the connection point for investments into Africa’s energy sector catering to opportunities from small renewable energy projects to billion dollar utility tenders.