The United Arab Emirates has announced a substantial $4.5 billion investment in clean energy across Africa, with the aim of expediting the transition towards sustainable and clean energy sources on the continent. This initiative, unveiled at the first African Climate Summit in Nairobi, emphasizes the pivotal role of the UAE in supporting renewable energy projects in Africa.
Investment Background and Objectives
The $4.5 billion investment, announced by the COP28 President-Designate, Sultan Al Jaber, aims to develop 15 gigawatts of clean energy by 2030 and to catalyze at least an additional $12.5 billion from multilateral, public, and private sources. This effort is part of the Etihad 7 program, launched in 2022, which seeks to provide clean electricity to 100 million people in Africa by 2035.
Project Development and Impact
Key Emirati companies involved, including Masdar, the Abu Dhabi Fund for Development, Etihad Credit Insurance, and AMEA Power, will play a central role in implementing these projects. The objective is to bolster the continent’s renewable energy capacity, which is expected to exceed 530 gigawatts by 2040, predominantly via solar and wind power.
Practical Advice and Future Outlook
Africa is poised to become a key supplier of green hydrogen for the European market, especially in the context of reduced Russian natural gas supplies following the invasion of Ukraine. With nearly 52 green hydrogen projects announced across the continent, production is expected to reach 7.2 million tonnes by 2035.
In conclusion, the UAE’s commitment to clean energy in Africa marks a crucial step towards a sustainable energy transition. This initiative not only aligns with the goals of the Paris Agreement but also presents significant opportunities for Africa’s economic and environmental development.
