- China will fund 30 clean energy projects in Africa and provide 360 billion yuan ($50.8 billion) in support over the next three years.
- China-Africa trade hit a record 1.19 trillion yuan ($168 billion) in early 2024, with green energy as a significant focus.
Clean energy initiatives are becoming a cornerstone of China-Africa economic cooperation, as evidenced by recent developments highlighted in a Deutsche Welle report. At the 2024 Forum on China-Africa Cooperation (FOCAC) Summit, China unveiled plans to launch 30 clean energy projects across Africa to bolster the continent’s green development.
Additionally, over the next three years, China pledged 360 billion yuan (approximately 50.8 billion US dollars) in financial support for African countries.
These efforts are projected to create at least 1 million new jobs, according to the German report titled “China Eyes Bolstering Green Energy Ties with Africa.” Trade between China and Africa has surged over the past two decades, growing at an average annual rate of 17.2 per cent. In the first seven months of 2024 alone, trade volume reached a record high of 1.19 trillion yuan (about 168 billion US dollars).
Green energy is emerging as a critical focus in the evolving China-Africa partnership. Africa’s significant role in China’s green supply chain is expected to enhance bilateral relations, particularly as the continent seeks a green transition.
Christian-Geraud Neema, a Mauritius-based China researcher, emphasised the potential for Chinese green products like solar panels and electric vehicles in Africa, where energy shortages are a significant barrier to economic growth and industrial development.
China has already implemented numerous solar, wind, and hydro energy projects across Africa. Despite the continent’s relatively small share of global renewable energy capacity, its growth rate is noteworthy, with a 19 per cent increase in installed solar power capacity in 2023.
However, due to tariff barriers, Chinese green products face challenges accessing US and European markets. Lina Benabdallah, an expert on China-Africa relations at Wake Forest University, pointed out the irony in the shift of Western criticism. “A few years ago, China was criticised for insufficient green energy efforts, but now it faces criticism for doing too much,” Benabdallah remarked.
The deepening green energy collaboration between China and Africa underscores a mutual commitment to sustainable development and highlights the growing importance of clean energy in their economic relationship.