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IRENA
The pan-African infrastructure investor and asset management Group, Africa50, has pledged to invest $100 million to fund and co-finance renewables-based energy transition projects and infrastructure across Africa.
Africa received just $60 billion or 2% of the $3 trillion of global investments in renewable energy in the past two decades, a trend that will now impact negatively on its ability to export competitively into Europe.
Since 2014, energy investments in Africa have dropped by nearly 45%.
SEForAll has said that the high cost of capital significantly diminishes the economic advantage of renewable energy solutions in developing countries, further limiting the pace and scale of their uptake.
According to the report, substantial investments in renewable energy are necessary to achieve SDG 7 by 2030.
According to a recent report by international organizations, 86 million Nigerians lack access to electricity, making Nigeria the country with the largest number of people without electricity access.
The International Renewable Energy Agency (IRENA) says that the world needs $130 trillion in clean energy investments by 2050 to meet climate goals.
A new report by the World Bank has revealed that healthcare facilities in Sub-Saharan Africa have a high level of energy insecurity
A new report by IRENA said Nigeria is the highest premium motor spirit (PMS) and diesel generator importer in Africa.
Only 27, 000 Nigerian homes were connected to hydropower sources between 2014 to 2021, a new report by IRENA has shown
About 5 million people across the six geo-political zones of Nigeria are now enjoying access to clean, safe, reliable and affordable electricity
90% of global electricity needs have to be supplied by renewables by 2050.