New partnership on energy launched for Africa
The African Development Bank Group (AfDB) presented its New Deal on Energy for Africa, and launched a Transformative Partnership on Energy at the World Economic Forum in Davos, Switzerland. The New Deal on Energy for Africa is a transformative partnership-driven effort with a goal of achieving universal access to energy in Africa by 2025. To drive and achieve this goal, the African Development Bank is working with governments, private sector, bilateral and multilateral energy sector initiatives to develop a Transformative Partnership on Energy for Africa, a platform for public-private partnerships for innovative financing in Africa’s energy sector. “The New Deal on Energy for Africa sets the ambitious target of universal access by 2025, which means bringing modern energy to 900 million people in sub-Saharan Africa, to cover for those who do not currently have access, as well as the expected population growth,” said Akinwumi Adesina, President of the African Development Bank Group. “This implies a step change in the way that the Bank, African countries, development partners and the private sector approach the energy sector on the continent.” The new deal has four main targets; to increase on-grid generation by adding 160GW of new capacity by 2025, nearly doubling the current levels; increase on-grid transmission and grid connections that will create 130 million new connections by 2025, an increase of 160 percent; increase off-grid generation to add 75 million connections by 2025, nearly 20 times that of today; and increase access to clean cooking energy for around 130 million households. “Energy is the lifeblood of any society,” added Adesina. “It is the passport to economic transformation, and it is one of the foundations for any society in the provision of education and health. And yet as we begin 2016 over 645 million Africans, some two-thirds of the people on the continent, have no access to energy. Africans are tired of being in the dark: children suffer, because 90 percent of the continent’s primary schools have no electricity. Women suffer, with 600,000 people, largely women, dying each year from cooking with unclean energy like wood or baked earth.” The partnership is also practical, setting up the right energy policy environment: laws, regulation, governance; build the capacity of national energy utility companies; increase the number of bankable energy projects and the funding pool to deliver them; and roll out waves of country-wide energy ‘turnarounds’. The deal will be energy resource neutral, using renewables and non-renewables alike, and technology neutral.
By Nick Michell
SHARE THIS ARTICLE
SHARE THIS ARTICLE
Photo: African Development Bank