Camco at COP27 events
Renewable energy for climate action and economic transformation in Africa: The role of SEFA
Tuesday, 15 November | 15:00 – 16:30
MDB Pavilion (Blue Zone)
Africa has only received 2% of the global renewable energy investments in the last two decades; larger, smarter and faster climate finance is urgently needed to change the status quo.
Financing at scale is necessary to scale up and accelerate the energy transition, in particular through investments that deliver high socio-economic impact in rural and peri-urban areas.
Universal energy access would require electrifying over USD90 million per year, nearly tripling what has been seen in recent years, and would require mobilising nearly USD25 billion per year in capital investments (IEA Africa Outlook).
Clearly, there are various risks holding back commercial investments in technologies that are both mature and competitive. Larger concessional finance flows are therefore needed to leverage more private capital and mobilise the millions of investments required, including from domestic financial markets that have to duplicate in size before the 2030 target.
This event will explore how to accelerate financial flows at scale to Africa’s renewable energy sector and showcase success stories of where renewable energy is playing a critical role in closing the continent’s energy access gap.
Geoff Sinclair, Managing Director, Camco
Wanji Nganga, Regional Manager East Africa, Shell Foundation
Ash Sharma, VP of the Nordic Green Bank
Gabriel Davies, CrossBoundary Energy Access
Aaron Cheng, PowerGen
Yiheyis Eshety, Director, Energy Policy and Strategy, Min. Water & Energy, Ethiopia
Idesbald Chinamula, Head of the Rural Electrification Agency, DRC
United Nations Development Programme