Energy transformation in Southern Africa boosted by new IRENA agreement with SACREEE
The International Renewable Energy Agency (IRENA) and the Southern African Development Community’s (SADC) Centre for Renewable Energy and Energy Efficiency (SACREEE) signed a Memorandum of Understanding (MoU), to work together on accelerating the deployment of renewable energy solutions, including decentralised technologies, in Southern African countries. The two organisations will also cooperate on policy development, capacity building programmes and regional events aimed at attracting investments to the region.
Southern Africa has seen remarkable improvement in electricity access over the past decade. This is largely due to a strong commitment from SADC member states to take advantage of the region’s vast renewable energy potential to improve energy security and meet rising energy demand. As a result, the total share of renewables in power generation rose from 23% in 2015 to almost 39% in 2018. However, despite significant progress, electricity access remains a challenge.
IRENA and SACREEE will also work together to accelerate renewable energy investments through the implementation of the “Southern African Investment Forum” that will facilitate access to sustainable finance in the region. The forum is part of IRENA’s contribution to the Climate Investment Platform (CIP), designed to advance sustainable energy projects to investment maturity and facilitate their access to finance. Key forum activities include matchmaking between projects, project developers, and potential financiers and investors.
Read the press release here.
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