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Energy needs private investment.

A report from UNEP Finance Initiative, Financing Renewable Energy in Developing Countries: Drivers and Barriers for Private Finance in sub-Saharan Africa recommends opening up energy markets to private sector investment through the introduction of smart government policies, to unlock Africa's massive renewable energy potential.

The report outlines how current obstacles to sus-tainable energy solutions in Africa - such as the cost of electricity generation or difficult grid access - can be tackled. It says that to meet the continent's growing energy demands, Africa's power sector needs to 1 install an estimated 7,000 MW of new generation capacity each year. The report cites Cape Verde, Kenya, I Madagascar, Sudan and Chad as having particularly significant potential. Mauritania's wind energy potential is almost four times its annual energy need, while Sudan's is equivalent to 90% of its annual energy needs. This offers both opportunities to improve energy security and create regional markets. The report is based on a survey of 38 institutions, mostly private sector, involved in energy infrastructure finance in developing countries.
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Title Annotation:POWER
Publication:African Business
Article Type:Brief article
Geographic Code:60SUB
Date:Apr 1, 2012
Words:170
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