Five African countries showcased their investment cases in the recent African energy market, which brings together governments, the private sector, and development partners, focusing on strategic projects and key energy sector reforms. The propaganda of these countries also emphasized the scale of renewable resources as their main priority.

The 5th Africa Energy Market was held from October 26 to 29. The theme was to identify opportunities in the energy value chain: solving bottlenecks in Cameroon, Guinea, Kenya, Mozambique and Tunisia and releasing investment.

Cameroon announced the establishment of an organization that manages the public power transmission system, Société National de Transport de l'Electricité (SONATREL), to support its vision of attracting approximately 10.6 billion U.S. dollars in investment to achieve its energy goals. “If we can develop a strong transmission infrastructure, we should be able to achieve universal access to electricity,” said Gaston Elundu Esumba, the country’s Minister of Water and Energy. The planned national energy structure is 80% hydropower, 14% natural gas and 6% solar, wind and biomass energy.

Sékou Sanfina Diakite, Interim Secretary-General of the Ministry of Energy of Guinea, stated that due to the different interconnection projects currently under construction in the country, the country is ready to become a power trading center in the region. It aspires to rely entirely on water and solar power.

Guinea’s goal is to export electricity in the subregion. It outlines the plan initiated by the West African Power Pool to establish the Guinea Power Company as a transmission system operator for the region's 5 regions (including Sierra Leone and Liberia).

In the discussion on Kenya, key issues included the need to urgently rebalance the risks in power purchase agreements that have led to high end-user electricity prices, calls for accelerated reforms, and expansion of power supply models.

Mark Carrato, coordinator of the US Agency for International Development's Power Africa project, said Kenya may attract multiple sources of investment. He said: "An important transmission line with a higher return will attract the national pension fund, and there is a large amount of money there, but we just haven't got enough use."

Dr. Antonio Saide, CEO of FUNAE (Fundo de Energia) in Mozambique, announced that the government recently initiated the application for the first green microgrid program under the BRILHO program. The plan aims to accelerate Mozambique’s off-grid energy market by providing selected companies with a unique combination of structured free funding and professional technical support, reducing the risks of business models, in order to achieve competitive business returns, and for low- Income market. Other round tables in Mozambique have integrated transaction and policy-related meetings, focusing on how the country can realize its ambition to become a regional energy power in the Southern African Development Community and achieve universal access by 2030. The government stated that sectoral reforms and major regional infrastructure are crucial, such as the transmission interconnection between Tanzania-Zambia, Angola-Namibia and Mozambique-Malawi.

Further north, Tunisia’s solar energy plan has become a key part of Tunisia’s recovery plan. "It is imperative to restore Tunisia's energy independence because the country's energy balance deficit has been increasing and costly over the past two decades," said Belhassen Chiboub, Director-General of the Ministry of Energy. To solve this problem, the government launched the Tunisian Solar Energy Plan in 2017 and set a goal of 3.8 GW of total renewable energy installed capacity by 2030, which means a tenfold increase in capacity and an estimated annual cost of about 400 million. Dollar.

Stakeholders participating in the conference include Power Africa, European Investment Bank, Africa50, Asian Infrastructure Investment Bank, International Finance Corporation, European Union, World Bank, British Foreign Affairs, Federal and Development Office, French Development Agency, German Development Agency GIZ, European Renaissance Development Bank, African Infrastructure Development Association (AfIDA), Islamic Investment Bank and IRENA.

The Deputy President of the African Development Bank, Dr. Kevin Kariuki, observed that following the Fourth Desert-to-Energy Program for G5 Sahel countries in 2020, this year’s AEMP focuses on five African countries selected based on geographical balance, needs and readiness. Private sector investment in the power sector. He pointed out that the four-day AEMP discussed key issues, including sector planning and reforms, renewable energy generation expansion, sustainability of finance and energy access, off-grid and power trade. He said: "AEMP finally proposed an executable action plan, and all stakeholders agreed to support a firm commitment to expand the scale of private sector investment."

The African Energy Market is a cooperative investment platform created by the African Development Bank. As part of the New Africa Energy Deal, this is a transformative partnership aimed at illuminating and providing power to Africa, and the bank’s high 5 strategic focus be consistent.

Read the original article about the African Development Bank (AfDB).

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