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Thursday, September 8, 2022

Energy Capital & Power (ECP) Promotes African Energy Investment on Africa Day 2022

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Representing the main funding platform for the power sector, ECP (https://EnergyCapitalPower.com) is totally dedicated to serving to the continent obtain meals safety on the again of large-scale power developments.

Representing the spine of each financial system, power is a basic enabler and key driver of Africa’s improvement. Entry to dependable, inexpensive and sustainable power goes past merely retaining the lights on, nevertheless, however drives industrialization, agriculture, and infrastructure growth whereas enhancing entry to medical, training and meals providers. With the continent celebrating Africa Day on Could 25, and the yr 2022 having been slated as ‘The Yr of Diet’ by the African Union (AU), Power Capital & Energy (ECP), Africa’s main funding platform for the power sector, stays totally centered on enhancing funding and improvement throughout the African power sector, making a robust case for power as a key driver of meals resilience and local weather change mitigation.

Strengthening Meals Safety by Power

Africa is dealing with a mounting meals disaster which has solely been worsened by the COVID-19 pandemic. Local weather change, political and financial crises, and regional battle and displacement have resulted in over 346 million individuals affected by extreme meals insecurity whereas 452 million endure from average meals insecurity. Whereas this insecurity continues to have vital penalties on the bodily, psychological and physiological improvement of the inhabitants, the burden of malnutrition transcends into the socioeconomic house, with the Price of Starvation in Africa Examine estimating that African nations are dropping the equal of between 1.9 and 16.5% of their gross home revenue resulting from little one under-nutrition. Accordingly, this yr’s Africa Day is being celebrated underneath the theme, ‘Strengthening Resilience in Diet and Meals Safety on the African Continent,’ centered round the necessity to strengthen agro-food programs and well being and social safety programs for the acceleration of human, social and financial capital improvement.

On this sense, ECP believes that efforts to realize internet zero starvation could be strengthened by the growth and enchancment of power programs throughout Africa. At the moment, 65% of Africa’s inhabitants depends on subsistence farming, and with the intention to sort out meals insecurity, governments throughout the continent are taking a look at deploying large-scale trendy agricultural programs, programs which require vital power at each stage of the manufacturing stage.

“By scaling up funding in key power industries, Africa has the chance to handle two imminent crises: power and meals insecurity. The correlation between improved power and meals safety is obvious: by strengthening power entry and affordability, nations can strengthen agro-food programs continent large, tackling meals safety and driving socioeconomic development,” states Laila Bastati, Managing Director, ECP.

Scaling-up Safety whereas Decreasing Emissions

Along with the alternatives offered by industrial agriculture, most notably meals safety, job creation and related sub-sector development, scaling up funding in clear power will assist mitigate local weather change impacts throughout the continent. At the moment, Africa’s meals programs rely predominantly on conventional fuels together with coal and diesel, bringing challenges of value volatility and provide and distribution disruptions. Nevertheless, these challenges could be rectified by the adoption of decentralized renewable power programs.

In keeping with the World Financial institution, the implementation of climate-smart agriculture will assist resolve a two-fold disaster. Firstly, deploying renewable power options will assist mitigate the challenges imposed by local weather change comparable to flood, drought and erratic rainfall, thereby enhancing meals manufacturing and agro-processing whereas strengthening meals safety continent large. There has already been success on this space with Empower New Power and Useful resource Power connecting a 700 KWp photo voltaic plant to Nigeria’s largest egg producer, Premium Poultry Farms; the primary agrivoltaic system opening in Kenya in 2022; and with 10% of South Africa’s renewable programs utilized in agriculture.

Secondly, renewable deployment is vital to decreasing greenhouse fuel emissions, each within the power and agriculture house. With 19-29% of complete greenhouse fuel emissions generated from the agriculture sector, the applying of zero-emitting applied sciences comparable to photo voltaic and wind is integral for mitigating local weather change. On this regard, the World Financial institution is selling climate-smart agriculture, recognizing it as an built-in strategy that addresses the interlinked challenges of meals safety and accelerating local weather change. Renewable power applied sciences are on the middle of this strategy, and due to this fact, rising funding and improvement throughout the clear power house in Africa is essential for addressing each crises.

“Because the continent celebrates Africa Day, and stakeholders speed up the drive in direction of a internet zero starvation financial system, consideration should flip to Africa’s excessive potential renewable power sector. By scaling up funding in clear power, Africa can enhance meals safety, cut back emissions and drive long-term, sustainable financial development,” Bastati notes.

Distributed by APO Group on behalf of Power Capital & Energy.

This Press Launch has been issued by APO. The content material just isn’t monitored by the editorial group of African Enterprise and never of the content material has been checked or validated by our editorial groups, proof readers or truth checkers. The issuer is solely accountable for the content material of this announcement.

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