SolarPower Europe and GWEC have signed an agreement with RenewAfrica and the AFSIA to jointly organise the Africa Renewables Investment Summit (ARIS), an event that seeks to catalyse renewable energy investment for African countries.
Despite the continent’s massive renewable energy potential, Africa received 2% of the $2tn that was invested in renewable energy globally between 2000 and 2020.
ARIS plays a “key role in catalysing renewable energy investment for Africa” by bringing together major renewable energy stakeholders.
The summit in Cape Town will gather renewable developers, institutional investors, development finance institutions, technology suppliers and African government stakeholders to explore ways to harness Africa’s renewable energy potential, with some investment set to be facilitated right at the event.
Additionally, ARIS will explore opportunities for commercialisation and bankability of green hydrogen projects on the continent.
ARIS is also supported by GET.invest, a European programme that mobilises investment in renewable energy in developing countries, supported by the EU, Germany, Sweden, the Netherlands and Austria.
The event will take place in Cape Town South Africa, from 27-29 September 2022.
Walburga Hemetsberger, CEO of SolarPower Europe said, “Africa is a true ‘sun continent’. As African economies grow, they present enormous potential for solar investment and deployment.
“ARIS is set to support next-level solar, and clean, green, secure energy for millions of African citizens.”
Wangari Muchiri, Director of GWEC’s newly established Africa WindPower initiative, said: “Wind and solar are the cornerstones of Africa’s transition to sustainable energy, and both industries must continue to work together to drive more investment into the continent, as energy is a key enabler of Africa’s sustainable development.
“Africa’s wind and solar industries must raise more awareness of the complementarity of these two crucial technologies, their combined potential for Continent-wide electrification and also face common challenges together.
“ARIS presents a much needed platform to address these common causes, and to highlight the tremendous investment opportunity for the benefit of all Africans.”