Africa has launched the African Renewable Energy Initiative which aims to produce 300 gigawatts of clean energy for the continent by 2030.
The project also aims to help African countries leapfrog towards renewable energy systems that support their low-carbon development strategies while enhancing economic and energy security. The initiative is expected to deliver 10GW of new and additional renewable energy generation capacity by 2020 and mobilize the African potential to generate at least 300GW by 2030.
AREI is an outcome of African leadership in Workstream II of the Durban Platform including their May 2014 proposal for a global renewable energy support programme. The initiative has been endorsed by African Heads of State (AU Assembly and Committee of African Heads of State and Government on Climate Change) and Ministers of Environment (AMCEN) the G7 (Elmau Summit) the G20 (Energy Summit).
Akinwumi Adesina, the President of the African Development Bank (AfDB), one of the major sponsors of the initiative, said the institution will triple its financing to climate change initiatives by 2020 dedicating 40% of the bank’s resources to such efforts.
“The initiative is a game-changer as Africa loses 4 per cent of its GDP due to lack of clean energy,” he said. “Sunshine should do more than just nourish our crops. It must light our homes. Our massive water resources should do more than water our farms, it should power our industries. Potential is important, but homes and industries cannot be powered by potential. Africa must unlock its renewable energy potentials.”