North Africa — Algeria, Egypt, Libya, Morocco, Tunisia, and Sudan – faces significant challenges due to climate change, which increasingly disrupts the region’s economies that rely on agriculture, fishery and tourism. Fortunately, the region is endowed with immense renewables potential, especially solar and wind power, making it a prime candidate for a renewables-based energy transition. These characteristics, combined with its vast renewables potential, could enable North Africa to lead at the forefront of the global energy transition. North Africa is also well-positioned to be a major producer and exporter of green hydrogen. Contrary to the global trend in the period of 2013-2020 which shows private sector financing as the primary source of funding for renewables development, North Africa sees public finance play a far more important role.

Source: The North Africa Journal February 26, 2024 23:23 UTC