$ 2.8 billion has been invested in renewable energy projects in sub-Saharan Africa, except South Africa, according to Bloomberg New Energy Finance ( BNEF ). This amount is $ 600 million higher than the investments made the previous year in the sector. For the year 2019, $ 2.1 billion in investments were traced by the organization to January 16, a figure that is subject to update.
In terms of infrastructure, 1.2 GW of photovoltaic solar power plants are scheduled to be inaugurated by 2021, which will double the capacity inaugurated in 2018.
The establishment of these new capacities in the countries is supported by multilateral organizations. The World Bank’s Scaling Solar program aimed at facilitating and accelerating the installation of solar power plants enabled the installation of 400 MW of power plants between 2015 and 2018. This represents 39% of the total installed capacity.
This type of initiative also offers many measures that reduce the costs and risks associated with the project. “It helps lower the cost of energy, but it can also lead governments to expect to pay the same price for projects that are not supported by such mechanisms,” says Antoine Vagneur-Jones, analyst. at the BNEF.
Source: Agence Ecofin