UAE’s COP28 tabled Africa as the Green Energy hub plus the top continent with Carbon market potential. As a result, 2024 has recorded multiple green energy contracts signed involving foreign investors like China, Turkey, and Japan.
During the ongoing COP29 Baku Summit, Africa will be aiming to maximize energy investment and financing opportunities. This includes local and youth renewable energy start-ups, who’ll be looking to improve their reach and production.
Through such, Africa’s renewable energy potential could reach 10 TW of solar, 350 GW of hydro, and 110 GW of wind power by 2050.
Africapractice, in association with the Green Hydrogen Organisation, is amongst the entities championing Arfica’s energy transition. They call for equitable finance in the renewable sector, helping boost Green Hydrogen, wind, and solar power and energy projects. Such champions at the top climate change summit will encourage upcoming companies like Next Energy (an East African Hydrogen Start-up).
Dr. Mithika Mwenda, the Executive Director of the Pan African Climate Justice Alliance (PACJA), was vocal about the continent’s energy potential at the Azerbaijan Summit. He said this at COP29 Day 2 in Baku, joining a dynamic panel on “Investing in Energy, Resilience, and Nature in Africa – Collaborative Approaches to Climate Resilience in the Global South.”
Similar negotiators, including the respective country’s energy officials, will aim to lure investors to explore their green resources and support local renewable energy startups. Importantly, they aim to simultaneously promote net-zero emission and fight for fair African natural resources and minerals exploitation.
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