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Private sector commits billions to Africa’s clean energy
Source: G20 South Africa
From the newsletter
Africa’s clean energy transition gained strong momentum this week at Global Citizen’s Scaling Up Renewables in Africa forum in South Africa, where five private firms pledged at least $13 billion for new clean energy investments. The commitments are expected to support a pipeline of 16.2 GW of new renewable energy capacity across the continent.
ENERTRAG, Octopus Energy, Genesis Energy Group, CrossBoundary Energy and Harith General Partners made the commitments, setting the stage for the next wave of energy investment across Africa.
The renewables market has long been driven mainly by governments and climate advocates concerned about the impacts of fossil fuels. Today, companies are taking the lead, with economics becoming the main force behind the shift.
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