
By Adaobi Rhema Oguejiofor
The International Renewable Energy Agency (IRENA) and the African Union Development Agency (AUDA-NEPAD) have signed an agreement aimed at supporting African countries in their efforts to achieve the African Union’s Agenda 2063 and the United Nations Sustainable Development Goal 7 in order to ensure access to affordable, reliable, sustainable and modern energy for all.
The agreement was signed on Tuesday by the Director General of IRENA, Francesco La Camera, and the Chief Executive Officer (CEO) of AUDA-NEPAD, Nardos Bekele-Thomas, on the margins of Africa Climate Week in Nairobi, Kenya.
La Camera, acknowledged that 80 percent of the global population without access to electricity resides in Sub-Saharan Africa, stating that it is evident that the existing energy infrastructure cannot adequately meet the continent’s needs.
In his own words, “the creation of a more equitable energy system, which is one that leverages a diverse mix of Africa’s abundant renewable resources, is dependent upon a more interconnected, flexible and reliable power grid in the region. This partnership serves as a pivotal step toward achieving that objective.”
AUDA-NEPAD CEO underscored the findings of the Continental Power Systems Masterplan (CMP), which is designed to provide a strategic roadmap for connecting Africa’s five power pools, emphasizing the critical need for immediate and proactive measures in Africa’s electricity sector.
She said that the current business as usual trajectory falls significantly short of achieving universal electricity access by 2040, necessitating a substantial increase in investments to elevate the continent’s installed capacity from 266GigaWatts (GW) to approximately 1,218GW.
“To realize this ambitious target, an estimated $1.29 trillion in cumulative investments will be essential, potentially culminating in the establishment of a robust continental electricity market valued at $136 billion by 2040. It is imperative to take urgent and strategic actions to accomplish these transformative goals,” she explained.
The continued investments in cross-border transmission infrastructure and a deepening of electricity trade will allow African countries to accelerate their energy expansion and transition by sourcing electricity from a wide range of competitive, clean energy resources, by anchoring on the continent’s five power pools to create Africa’s Single Electricity Market.