NAIROBI: The inaugural Investment Forum for Accelerated Partnership for Renewables in Africa (APRA) commenced today in Nairobi, Kenya, with key speakers highlighting the urgent need for increased financial and technical support from Western countries to help Africa meet its renewable energy targets. The forum aims to address the significant disparities in renewable energy deployment across the continent, which is crucial for adhering to the Paris Agreement's objectives. According to Ghana News Agency, the Director-General of the International Renewable Energy Agency (IRENA), Mr. Francesco La Camera, emphasized the importance of tripling the deployment of renewable energy sources such as solar, wind, and hydro. He noted that while IRENA data shows 473 gigawatts of renewable energy capacity was added globally in 2023, Africa continues to lag, with only 1.6 percent of the global share of installed renewable power capacity. Mr. La Camera pointed out that the continent's investment in energy-transition was signif icantly lower compared to other regions, making a strong case for enhanced international cooperation and investment. The Deputy Minister of Energy from Ghana, Mr. Collins Adomako-Mensah, highlighted the financial challenges his country faces in its pursuit of zero carbon emissions by 2060. He stated that Ghana requires an investment of $550 billion over the next 40 years and urged investors to finance the country's renewable energy potentials. Mr. Adomako-Mensah called for a gradual transition to renewable energy to avoid negative impacts on the industrial and economic sectors of the country. Mr. James Opiyo Wandayi, Kenyan Cabinet Secretary for Energy and Petroleum, also addressed the forum, underscoring the low penetration of renewable energy in Africa despite the continent housing 17 percent of the world's population. He stressed the importance of targeted investments to bridge the substantial gap between the current investments and the projected needs, especially as the African population is expected to double in the next 30 years. The forum, which is country-led by African nations including Kenya, Ethiopia, Ghana, Namibia, Rwanda, Sierra Leone, and Zimbabwe, with international partners like Denmark, Germany, the United Arab Emirates, and the US, will continue over three days. Discussions will focus on investment priorities, enabling frameworks, innovative financing instruments, and the development of supply chains in APRA countries. Technical assistance will be available throughout the forum, providing participants access to expertise and advisory services offered by IRENA and its partners.
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