No »post pandemic rebound« for renewables in Africa

Only 2.6 billion dollars of capital for wind, solar, geothermal and other renewable energy projects was invested in Africa in 2021. This is according to market research firm Bloomberg New Energy Finance (BNEF) for a report (Scaling-up Renewable Energy in Africa) presented at the World Climate Summit in Egypt. The continent is not seeing any »post-Corona rebound«; on the contrary, 2021 investment levels were the lowest in 11 years.
Despite »outstanding natural resources, rapidly growing electricity demand and improving policy frameworks,« Africa thus accounts for only 0.6 percent of the $434 billion in total renewable energy investment identified by BNEF globally. And while the global investment total thus grew by nine percent compared to the previous year, which was marked by the Corona pandemic, it fell by 35 percent in Africa.
© PHOTON