RenewAfrica.Biz, a leading media company on African renewable energy market intelligence, news and thought leadership has concluded a partnership agreement with the Africa Solar Industry Association (AFSIA) to co-organize the Africa Renewables Investment Summit (ARIS) – an event that seeks to catalyse renewable energy investment in Africa.
Despite the progress witnessed in Africa’s renewable energy sector, the continent still lags behind in terms of attracting investment compared to other regions in the world. With close to half of
Africa’s population (600 million) still without access to electricity, the need for investment on the continent couldn’t be more crucial. Through ARIS, RenewAfrica.Biz and AFSIA will provide a platform for the facilitation of investment in various African countries beyond just the attractive markets of Egypt and South Africa.
Africa has by far the largest renewable energy resources of any continent but lack of investment is stifling Africa’s renewable energy potential. Around USD 2.8 trillion was invested in clean energy globally between 2000 and 2020, but only 2% went to Africa. In order for Africa to end energy poverty and meet its electrification goals, the continent would need at least USD 70 billion in yearly renewable energy investments, according to estimates by the International Renewable Energy Agency.
The urgent need for more renewable energy investment
“There is a need for a more radical approach to facilitating renewable energy investment in Africa, hence we conceptualised ARIS. We are grateful to partner with an incredible organization in AFSIA to provide a conducive platform for investors to make deals, and invest in renewable energy projects in our continent. We intentionally do not want to add another ‘talk shop’ but bring something that actually makes an impact” said Munyaradzi Jani, Executive Director at RenewAfrica.Biz.
“Key investors, developers, development finance institutions and high-level government officials we are in contact with from Africa and around the world are excited about ARIS. They will descend in Cape Town to help move the needle on African renewable energy investment.” Jani continued.
John van Zuylen, AFSIA’s CEO added: “Africa offers tremendous opportunity for business leaders and investors interested in renewables, and in solar in particular. Through our activities at AFSIA, we witness a sharp increase of African and international companies developing promising projects, as well as an abundance of capital ready to be deployed. Unfortunately, very often these two sides of the coin fail to connect at the right time and in the right place. ARIS will be an exceptional platform for all stakeholders to meet, identify opportunities and move the projects to the next level.”
The Africa Renewables Investment Summit (ARIS) is scheduled to take place in Cape Town at the Cape Town International Convention Centre 2 (CTICC 2). The event will run from the 27th to the 29th of September 2022.