Rome — Leaders representing the African and European renewable energy (RE) sector gathered in a closed-door event for the launch of renewAfrica, a new initiative aimed at boosting renewable energy investments in Africa. Hosted by RES4Africa, the event gathered high-level representatives of the Italian government, European Commission and key actors from the renewable energy industry, international financing institutions, academia, think-tanks and international partners to endorse the initiative and discuss ways to multiply and scale up Africa's renewable energy investments.
"European RE industry, academy, investors and think-tanks are in a position to offer leadership and industry field experience on what is needed to make it happen. In this way renewAfrica aims to be a game-changer for Africa's sustainable energy future" said Antonio Cammisecra, President RES4Africa and CEO Enel Green Power.
The event underscored the need for strong joint public-private efforts through harnessing sector-wide and multi-stakeholder leadership to lay the foundation for Africa's sustainable energy transition.
Through this initiative, renewable energy leaders are seeking to enhance cooperation in this sector and and create enabling environments for RE investment in Africa. It is also expected to enhance European private investment in RE market development on the continent.
The event was opened by Emanuela Del Re, Italian Vice-Minister of Foreign Affairs and International Cooperation, and by Antonio Cammisecra as RES4Africa President. A video recorded statement was made by Romano Prodi, former president of the European Commission and special envoy of the United Nations for Africa.
Additional High-level remarks were made by Vera Songwe, Executive Secretary of the Economic Commission for Africa; Antonella Baldino from Cassa Depositi e Prestiti, Anne-Charlotte Bournoville from the European Commission and Maria Shaw-Barragan from the European Investment Bank.
The meeting underscored that Africa has a tremendous opportunity to develop its vast RE resources and ensure its resilient, prosperous and sustainable development. While significant progress has been made by multiple international and national RE investment support programs, more efforts are needed to scale up investments to where they need to be.
However, it was noted, bringing RE investments in Africa to a transformative scale requires a new type of support in terms of overcoming policy and regulatory hurdles. It also aims to build capacity for ease of access to finance.
"The next step is defining a roadmap to put a holistic initiative as renewAfrica on the rails. There can be no doubt that sector-wide and multi-stakeholder approach is the main ingredient for success, that is why we gathered so many of us here today to commit to driving Africa's sustainable energy future," said Antonio Cammisecra.
To ensure sector-wide and multi-stakeholder participation, the conference closed with a non-binding Declaration of Intent, signed by 20 participants who expressed commitment, interest and participation in the initiative.
The Declaration of Intent is signed by: ABB, Cassa Depositi e Prestiti, DNV GL, EDP Renewables, Enel Green Power, Ge Renewable Energy, Intesa Sanpaolo, Nordex, Nordic Energy, Norfund, Pöyry, Prysmian, PwC, REC Group, Siemens Gamesa, SMA, Solar Power Europe, Soltec, Total Eren, Vestas
For more information please visit www.res4africa.org or write to communication@res4med.org
Renewable Energy Solutions for Africa (RES4Africa) promotes the deployment of large scale and decentralized renewable energy in African markets to meet local energy needs for growth. RES4Africa gathers a member network from across the clean energy value chain and supports the creation of an enabling environment for renewable energy investments and strategic partnerships.
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