- SEforALL’s analysis identifies an initial first wave of eight countries that have medium or high feasibility to localise solar or battery storage manufacturing capacities and build the tools and incentives to increase investment opportunities favourably.
- SEforALL, in a press statement, noted that with 60 percent of the world’s best solar resources in Africa, the continent has the potential to become a global green manufacturing hub with expected growth in solar photovoltaics (PV) to 650 gigawatts by 2050.
On Tuesday, Sustainable Energy for All (SEforALL), the African Climate Foundation, Bloomberg Philanthropies, ClimateWorks Foundation, and the Chinese Renewable Energy Industries Association (CREIA) launched the Africa Renewable Energy Manufacturing Initiative (AREMI) to drive investment and scale up renewable energy manufacturing capabilities in African countries. AREMI will help drive the financial, technical, and socioeconomic investments required to advance clean energy development and transition in Africa while opening up 1.2 terawatts of energy potential, creating 14 million new jobs, and increasing GDP by 6.4 percent.
SEforALL, in a press statement, noted that with 60 percent of the world’s best solar resources in Africa, the continent has the potential to become a global green manufacturing hub with expected growth in solar photovoltaics (PV) to 650 gigawatts by 2050. Therefore, AREMI will focus on capacity building, knowledge transfer, policy dialogues, and advocacy, as well as enabling pilot projects that drive low-emission development and carbon neutrality in Africa through four key programmes.
AREMI will bring together governments in Africa and the Global South, as well as key decision-makers across the renewable energy industry, businesses, academia, and research institutions, to champion renewable energy as a key anchor for both economic growth and sustainable development goals across the continent. Drawing on multiple sources, including an economic analysis from McKinsey & Company, SEforALL’s analysis identifies an initial first wave of eight countries (Algeria, Egypt, Ghana, Morocco, Namibia, South Africa, Tanzania, and Tunisia) that have medium or high feasibility to localise solar or battery storage manufacturing capacities and build the tools and incentives to increase investment opportunities favourably.