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Several global organizations joined hands to launch the Africa Renewable Energy Manufacturing Initiative (AREMI) at the recently held Abu Dhabi Sustainability Week in UAE. The initiative aims to scale up financial investment for developing renewable energy capacities in Africa, with a target of utilizing 1.2 TW of renewable energy potential in the continent.
The partners include Sustainable Energy for All (SEforALL), African Climate Foundation, Bloomberg Philanthropies, ClimateWorks Foundation, and Chinese Renewable Energy Industries Association (CREIA). According to the team, AREMI will provide support in monetary, technological, and socioeconomic investments required for the green energy transition in Africa.
Africa is home to 60% of the ideal solar energy resources in the world. It has the potential of becoming a global hub in green energy manufacturing with expected solar PV growth to 650 GW by 2050. AREMI will concentrate on capacity building, knowledge transfer, advocacy, and policy dialogues, and enable pilot projects on carbon neutrality in the continent.
Under AREMI, four key programs will be executed. This includes enabling a best-in-class business environment with the help of African government officials, building a green manufacturing workforce, attracting green manufacturers, and incubating green manufacturing projects & policies in the continent.
The new initiative will foster South-South cooperation and increase energy capacity with the help of worldwide collaborations. It will bring together the various governments in Africa and the Global South for green energy advancement along with enhancing de-carbonization.
According to AREMI partners, the initiative will create nearly 14 million jobs and contribute 6.4% economic growth in regard to the GDP of Africa. In conjunction with AREMI, SEforALL also launched a report named ‘Africa Renewable Energy Manufacturing: Opportunity and Advancement’ that analyzes the renewable energy landscape in the continent.
The report identifies eight nations – Algeria, Egypt, Ghana, Morocco, Namibia, South Africa, Tanzania, and Tunisia – that have medium or high feasibility to localize solar PV manufacturing capacities and build the tools to increase investment opportunities.
Saliem Fakir, Executive Director of the African Climate Foundation, said, AREMI will capitalize on Africa’s growing economy while laying a solid foundation for sustainable growth and clean energy development by working with intergovernmental agencies, financial institutions, research organizations, and enterprises.
Damilola Ogunbiyi, the CEO and Special Representative of the UN Secretary-General for SEforALL as well as Co-Chair of UN-Energy said, scaling up sustainable and renewable energy projects in Africa will help in ending energy destitution. With AREMI, the continent will be able to reduce the energy gap as well as enable a just and also equitable energy transition.