Nairobi/Monrovia — The Chief Executive Officer of the Liberia Electricity Corporation (LEC), Monie R. Captan, has emphasized the need to strengthen capacity of energy stakeholders for successful project implementation delivery, which is crucial to achieving the overall objective of the 25th edition of the Africa Energy Forum in 2023.
Mr. Captan stated that creating capacity is essential for the effective development and delivery of projects, particularly in the energy industry, where there are several complicated difficulties.
According to him, the Africa Energy Forum 2023 is an important platform for African countries to come together and discuss ways to improve the sectors by creating capacity building for its people.
Captan, who spoke recently at the African Utilities Roundtable Forum in Kenya, Nairobi, called on African countries to work together and share knowledge as well as resources in order to achieve their energy goals. It was held under the patronage of cabinet secretary of Mr. Davis Chirchir, Kenya Minister of Energy and Petroleum.
He further believes that the Africa Energy Forum provides an opportunity for African countries to collaborate and learn from each other's experiences.
Captan also highlighted the importance of investing in renewable energy sources such as solar, wind, and hydro power.
He, however, said these sources of energy are not only more sustainable but also more cost-effective in the long run.
The LEC Chief Executive Officer, who many believed to be an energy expert, observed that most African utilities do not have cost-reflective tariffs, which hampers commercial viability, asserting that commercial viability is cardinal to economic growth and development.
He stated that a cost-reflective tariff is one that reflects the true cost of supplying electricity, removing the reliance on State Government subsidies to cover the variance between the current tariff and the supply of electricity.
According to Captan, there is a compelling need for Energy Experts and Stakeholders on the African Continent to develop a strategic framework that will address challenges relative to capacity building, project implementation delivery, and procurement processes.
Meanwhile, the Forum, which started from June 20-23, 2023, was aimed at uniting governments, utilities, and regulators with development finance institutions, commercial banks, power developers, technology providers, EPCs, and professional services.
Over the last 24 years, the African Utilities Roundtable Forum has earned a reputation as the most meaningful gathering of decision-makers in African energy to form partnerships, identify opportunities, and move the industry forward.
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The Africa's Energy Roundtable Forum handpicks the most credible organizations in the sector, delivering an intensive networking experience.
The 2023 topic and themes discussed were: Insights from energy ministers and heads of utilities into project pipelines; Increasing pace and scale for Africa's renewable energy projects; and the Growing Role of Africa's Gas within today's Geo-Political context.
Followed by breaking down barriers to energy transition in mining, capital flows, and risk mitigation in today's market, financing an African 'transition, Africa's path of becoming a global hydrogen power house, and building regional power markets as well as electricity trade between countries.
Other topics discussed were new streams for 2023, including mining, critical minerals, and energy.
Overall, Mr. Captan's vision for the Africa Energy Forum 2023 is one of collaboration, knowledge-sharing, and investment in renewable energy sources.
The forum was also attended by 2,000 plus Industry Stakeholders, 300 plus Expert Speakers in a multi-streamed agenda, and 150 plus Sponsors and exhibitors, among others.
