RenewAfrica Initiative
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14th September 2020
10 Guiding Principles
The renewAfrica Secretariat released its “10 Guiding Principles” to tell the story of renewAfrica, its vision and how it aims...

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2020
10 Guiding Principles
This document tells the story of renewAfrica, its vision and how it aims to get there, through 10 Guiding Principles....

The African energy context

What there is
Mission - Population growth
POPULATION
GROWTH
Mission - Urban concentrations
URBAN
CONCENTRATION
Mission - Demand growth
DEMAND
GROWTH
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LAND
AVAILABILITY
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RENEWABLE
ENERGY POTENTIAL
What is still missing
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SUSTAINABLE PROJECT
DEVELOPMENT
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AN ENABLING
REGULATORY FRAMEWORK
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ADEQUATE
FINANCING SUPPORT
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ADEQUATE
DE-RISKING MEASURES

Inadequate energy access is a major obstacle to Africa’s development. Following the current trajectory, in 2030 over 600 million people in Africa will be living without access to electricity, equivalent to 36% of the population. Bridging this energy access gap will require upward of 300 GW of renewable capacity.

Most of this investment must come from the private sector, as public financing is not expected to exceed its current level of 15% (IRENA). However mobilizing private capital is hampered by a multitude of challenges.

renewAfrica seeks to advance European commitment to Africa's clean energy access

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Expand access to energy in private and productive uses, to unlock Africa's sustainable development potential
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Scale up European investments in Africa's renewable energy by building a pipeline of bankable and sustainable projects
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Meet Africa's growing energy demand with sustainable, resilient, and clean solutions able to withstand the challenges of climate change

Build a comprehensive EU Programme to support investment in Africa's renewable energy

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Combine the best features of the existing instruments to form a stronger, more complete platform aiming to enhance the development of large-scale RE projects in Africa
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Create a one-stop-shop programme offering support to investors along all project phases in the form of financing as well as expert advisory services
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Provide the right mix of guarantees and insurances able to mitigate investment risks, to attract private capital and ensure that projects are bankable

Who we are

renewAfrica is backed by 26 European industry players dedicated to advancing the European commitment to developing Africa’s renewable energy. Our members come from the worlds of finance, manufacturing, think tanks, consulting, Independent Power Producers, and industry associations.

This diversity of views is renewAfrica’s key asset: it helps tap into best practices to build a new, comprehensive and impactful Programme.

COMPOSITION OF RENEWAFRICA SIGNATORIES

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MANUFACTURERS
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THINK TANKS AND CONSULTING FIRMS
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INDUSTRY
ASSOCIATIONS
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FINANCIAL
INSTITUTIONS
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INDEPENDENT
POWER PRODUCERS
19th May 2020

renewAfrica reconfirms its commitment to scaling up renewables in Africa releasing its video

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