BAKU, Azerbaijan, March 28. Africa's energy transition is such a huge task and it will cost an estimated $100 billion a year between 2020 and 2040, Akinwumi Adesina, President of the African Development Bank, said, addressing the 9th Berlin Energy Transition Dialogue, Trend reports.
"Africa is completely energy deficient. The continent accounts for only 6 percent of global energy use, and just 3 percent of global electricity demand. Africa has made, however, important progress in terms of access to electricity. With a population with access to electricity increasing from 44 to 56 percent between 2010 and 2020. Now, despite this progress, close to 600 million people do not have access to electricity. And close to a billion people lack access to a clean cooking energy," he said.
According to Adesina, to meet SDG goal, Africa needs to connect 90 million people annually to electricity in the next 8 years, and to also shift 130 million people from cooking fuels every single year.
"Universal access to electricity is possible in Africa if the continent fully unlocks its massive potential in renewable energy sources. The lowering costs of solar and wind energy coupled with energy storage systems makes renewables cost-competitive and presents a unique opportunity for Africa to underpin its future energy needs based on renewables," the president explained.
He also pointed out that, since 2016, 86 percent of African Development Bank's investment in power generation have been in renewables, including such projects as the 510 MW solar project in Morocco, and the 300 MW Sub-Saharan Africa's largest wind farm.
"The bank's $20 million desert to power project is working on solar power across 11 countries. It will provide renewable for 250 million people in terms of access to electricity. And when it is completed, by the way, it will be the largest solar zone in the world. The projects are currently underway," he noted.