The Chief Executive Officer (CEO) of the Business and Financial Times (B&FT), Dr. Godwin Acquaye, has called the acceleration of investments in technology, innovations, policies and regulations to speed up Africa’s renewable energy revolution.
“As the world races to meet the Sustainable Development Goals (SDGs) come 2030, there is an increasing awareness of the value of initiatives and strategies to use regional trade integration to strengthen the energy sector and improve utilization of the regions abundant renewable energy resources to meet the vast demand,” he stated.
“Our collective aspiration must be high and we should drive for universal access to energy in Africa by 2030 as the World Bank projects. For this to happen, countries will need to scale up on-going efforts in the energy sector, institute a stronger political will and we as partners must work,” Dr. Acquaye added during his welcome address at the ongoing AFRICA ENERGY CONFERENCE 2022.
Citing a February 2015 report by McKinsey & Company, Dr. Acquaye said Africa has an extraordinary reserve of untapped energy potential, including an estimated 10 terawatts of potential solar energy, 350 gigawatts of hydroelectric power, 110 gigawatts of wind power, and an additional 15 gigawatts of geothermal energy.
With these immense resources, “Africa should accelerate investments in technology, innovations, policies and regulations to speed up a renewables revolution. Africa cannot power its homes or businesses with potential. Africa must utilize its huge renewable energy potential and combine this with conventional energy to light up and power Africa,” he declared.
The maiden edition focuses on highlighting the infrastructure gap, financing options and energy transition opportunities in the Africa energy sector and will be held under the theme, Africa’s energy future – achieving an all-round competitiveness and sustainability to support the continent’s development ambitions.
The AFRICA ENERGY CONFERENCE is a strategic platform powered by the Business & Financial Times Limited (B&FT) and supported by GCB Bank, Sethi Brothers Ghana Limited, Bulk Oil Storage and Transportation Company Limited (BOST), Volta River Authority (VRA), Arthur Energy Partners and Nuclear Power Ghana.