Africa faces significant energy challenges, with around half of the population without access to electricity and most people relying on biomass as an energy source. Frequent blackouts and lack of electricity supply have a significant impact on the African economy, but the continent has great energy potential, with abundant solar, geothermal and wind resources. Investment in renewable energy has grown in the region, with emphasis on solar energy, which is seen as a sustainable and viable solution to meet the energy demands of the African population. Climate finance investors in Africa expect renewables to dominate deals over the next three years, as the quest for clean energy to end blackouts increases its appeal to funders.
Africa faces significant energy challenges, with around half of the population without access to electricity and most people relying on biomass as an energy source. Frequent blackouts and lack of electricity supply have a significant impact on the African economy, but the continent has great energy potential, with abundant solar, geothermal and wind resources. Investment in renewable energy has grown in the region, with emphasis on solar energy, which is seen as a sustainable and viable solution to meet the energy demands of the African population. Climate finance investors in Africa expect renewables to dominate deals over the next three years, as the quest for clean energy to end blackouts increases its appeal to funders.
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Sustainable Energy Drives the Development of the African Continent
