Full Title: The Energy Transition in Africa: Opportunities for International Collaboration with a Focus on the G7
Author(s): International Renewable Energy Agency
Publisher(s): International Renewable Energy Agency
Publication Date: April 9, 2024
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Description (excerpt):
Africa stands at a crucial crossroads in its developmental trajectory, and energy plays a pivotal role in shaping its future. Despite having abundant renewable resources, the continent faces a significant energy access deficit, with three-quarters of the population lacking access. Insufficient investment compounds this issue, with the continent receiving less than 2% of global investments in renewable energy over the last two decades.
The G7 has the opportunity to lead international collaboration in support of African-led initiatives to address these issues. G7 countries can meet the call to action from African leaders in the Nairobi Declaration on Climate Change, which requests that the international community contribute to the goal of increasing renewable capacity on the continent from 56 GW in 2022 to 300 GW by 2030, aligning with the COP28 goal to triple renewable energy and double efficiency by the end of the decade.
This report identifies priority areas for potential collaboration between the G7 and Africa, including increasing investment in infrastructure and enabling access to finance; expanding energy access and supporting the productive use of energy; effectively managing critical minerals for the energy transition, and strengthening institutional frameworks and capacity.