- While speaking at the African Investment Conference, Adesina stated that the bank would begin implementing the initiative in Nigeria.
- The Initiative aims to generate 10,000MW of solar energy in Africa’s Sahel region.
The African Development Bank (AfDB) President, Dr Akinwunmi Adesina, has stated that the bank will commence implementing the ‘Desert-to-Power’ initiative in Nigeria. He noted that the initiative has already started in a couple of countries, including, Morocco and Kenya and commencing in Nigeria will help ease its power supply challenges.
The Desert-to-Power initiative, an ambitious and innovative partnership of 11 Sahel region countries, targets the capacity to generate 10 GW of solar electricity through both on-grid and off-grid projects. The initiative aims to provide electricity to about 250 million people and turn the region into the world’s largest solar zone. The AfDB in recent years has increased its renewable energy investments, seeing clean energy as the solution to the continent’s electricity woes.
Read also: AfDB to Provide $5m Grant for Desert to Power (D2P) Initiative in the Sahel
Adesina who spoke at the African Investment Conference organized by the UK’s Department of International Trade stated “renewable energy is the future, Africans must tap into renewable energy, solar in particular. It would be a big disservice to Africans if the power of the sun were not converted energy having identified that about 600 million people in Africa have no access to electricity”.
Adesina also expressed optimism in the continent’s investment environment stating that feasible economic investments are possible in Africa. He also stressed the importance of youth investment. “While economic investments in the continent are pivotal, there is need to invest meaningfully in the youths. Investing in young people will in no small measure help them to effectively develop their business ideas and their other potentialities,” he noted.