Wind and solar associations to organize »Africa Renewables Investment Summit«

An alliance of African and European stakeholders is organizing the Africa Renewables Investment Summit (ARIS) next September. Participants include the Global Wind Energy Council (GWEC), the European solar industry association Solar Power Europe, the business-backed initiative for a European renewable energy investment program in Africa »renewAfrica« and the African Solar Industry Association AFSIA. ARIS is also supported by »GET.invest«, a European program that promotes investments in renewable energies in developing countries.
The summit, to be held Sept. 27-29 in Cape Town, South Africa, is supposed to »gather renewable developers, institutional investors, development finance institutions, technology suppliers and African government stakeholders.« Some investments, the ARIS Alliance announces, are »set to be facilitated right at the event.« Large-scale hydrogen production projects are also to be an important topic.
The organizers cite as a motive for their initiative the fact that, despite the enormous potential, only two percent of the global investment in renewable energy from 2000 to 2020 – some two trillion dollars – went to Africa. That would equate to a total of $40 billion, or an average of two billion per year. According to a report by the International Renewable Energy Agency IRENA, 70 billion per year would be needed to achieve access to electrical energy for all African people by 2030.

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