The Strategist

EC chair calls for more investment in clean energy in Africa

01/30/2024 - 06:17

European Commission President Ursula von der Leyen stated at the Italy-Africa summit that although foreign investors are not making significant investments in clean energy in Africa, the region has abundant conditions for accessing such energy resources.

"It is undoubtedly thought-provoking, considering Africa's enormous potential for clean energy circumstances. Africa offers enough of sunshine, wind, and space, to mention a few. It is devoid of infrastructure. But we can alter that if we work together," she remarked.

Africa currently receives just 2% of these global investments, according to her. Through greater investment, Africa "will not only be able to produce enough clean energy to meet the needs of the African continent, but also generate revenues from its exports." She made reference to the beginning of plans to install the first underwater electrical line that will link Italy and the rest of Europe with North Africa in this regard.

African producers can immediately apply for loans from the new European Hydrogen Bank, according to the EC President.

According to von der Leyen, "this means good jobs, energy, and energy security for both Africa and Europe."