On Friday, June 21, 2024, the Electricity Hub, in collaboration with EnergyNet Limited, hosted Hlatse Nkune, the Principal of Energy Finance at Nedbank, on the Grid Code Podcast. The podcast served as a precursor to the Africa Energy Forum (AEF), which will be held from June 25 to 28 in Barcelona, Spain.
During the podcast, Nkune addressed “Accelerating Energy Finance in Africa”. He highlighted Nedbank’s commitment to financing African electrification projects. As one of the sponsors of this year’s forum, Nedbank is eager to expand its investment in the continent’s energy sector.
Nkune emphasized the urgent need to address the fact that over 600 million Africans still lack access to electricity. To achieve comprehensive electrification, Africa must harness diverse energy sources.
Nkune outlined Nedbank’s strategic focus on financing projects involving solar, wind, hydropower, battery storage technologies, and emerging energy sources like hydrogen. Despite the anticipated growth in hydrogen production and usage in 2024, he acknowledged the challenges posed by the high production and transportation costs, which slow progress, particularly in Africa.
Experts project that Africa will become a global leader in green hydrogen production, potentially generating a trillion dollars’ worth of green hydrogen by 2035. However, to realize this potential, Nkune stressed the importance of collaboration among stakeholders to close the energy access gaps on the continent.
Nkune concluded by calling on all stakeholders to work together to close energy access projects in Africa.
Click this link to listen to the podcast.