The need to scale up investment into energy Infrastructure across Africa is a challenge that looms large, according to International Energy Agency (IEA) Deputy Director Mary Burce Worlick. Current energy investment into Africa needs to ramp up to around $200 billion a year if the continent is to meet its climate goals by 2030. 2025 date set for opening of Africa Energy Bank in AbujaA place for gas as an energy sourceAsked at the opening ceremony of Africa Energy Week how company boards decided where they would invest their money, Andrew Inglis, Kosmos Energy CEO, said it is clarity of strategy which is supported by both company shareholders and debt holders that determines how you pick the best projects. “It’s about regulation that is predictable… You talk about sign, sign, sign but to do that you have to have a process that is predictable. “I find it quite curious that some of the Western leaders are advocating for Africa to prioritise renewable energy.

Source: The North Africa Journal November 05, 2024 17:47 UTC