The Africa Development Bank (AfDB) has affirmed its commitment to pursuing the continent’s ambition of harnessing its green energy potential and totally eliminate greenhouse gas emissions by 2050, a new statement by the organisation has shown.
The commitment follows the stakeholders’ meeting that was held in November 2021 in Democratic Republic of Congo (DRC) for the DRC Business Forum to discuss moving Africa up the ladder in the battery, electric vehicle and renewable energy value chain and market.
According to the statement, the AfDB was one of the co-hosts of the DRC Forum, a clear sign of the Bank’s commitment to supporting Africa’s energy transition.
It said: “The following projects supported by the African Development Bank symbolise the continent’s efforts to reduce greenhouse gases, even though it is only responsible for 3.8 percent of global emissions:
“The Noor Ouarzazate Complex, south-east of Marrakesh, had ushered Africa into a new era at the beginning of the 2020s. With a capacity of 580 megawatts spread over four power plants, the complex is one of the biggest solar parks in the world.
“More importantly, it supplies electricity to nearly two million Moroccans and prevents the release into the atmosphere of nearly one million tonnes of greenhouse gases every year.”
In addition, it also stated that the project in Chad, the Djermaya solar power plant which will soon be under commercial operation. In Senegal, too, 30 solar power plants are being constructed in the regions of Fatick, Kédougou, Kolda, Matam, Sédhiou, Tambacounda and Ziguinchor, with high public expectations, the statement reads.
While noting all this, the AFDB said that in February 2022, its Board of Directors approved the Leveraging Energy Access Finance Framework and committed to investing up to $164 million to promote decentralized renewable energy in Ghana, Guinea, Ethiopia, Kenya, Nigeria and Tunisia.
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According to the statement, this is coming after the pledges made by countries of the world at 26th United Nations International Climate Conference (COP26), held in Glasgow, Scotland, from 31 October to 12 November 2021, where bank officials affirmed this very fact that Africa has enormous energy potential to harness.
“Now is the time for African countries to find ways to guarantee a cleaner future and become a net exporter of clean energies to Europe,” said Gareth Phillips, the Bank’s manager of climate and environment finance.
The statement also said the fact that Africa has, in addition to natural gas, significant quantities of other resources, including forests and minerals, arable land, and water and wind, capable of producing enough clean energy to meet the needs of its people and to industrialize, while supporting sustainable development has made it possible for the continent to achieve this feat.
“These resources, including the minerals and metals used in batteries such as lithium and cobalt, should be exploited to support the global energy transition and the sustainable development of Africa.
“At the same time, we should maintain carbon neutrality and ensure food security as well as water and energy security for the African people,” said Environmental experts during one of the events hosted by the AFDB during COP26.
