Ahmed: ISA set to pave the way for increased solar deployment
Africa has vast solar potential, but many countries still struggle with energy access. To understand how the International Solar Alliance (ISA) is helping bridge this gap, CNBC Africa spoke to Barakat Ahmed, Regional Head Africa, International Solar Alliance at the side-lines of the on Djibouti Africa Forum.
Mon, 13 May 2024 15:32:13 GMT
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AI Generated Summary
- The International Solar Alliance has garnered 190 member countries to support solar energy development in Africa, focusing on smaller scale projects in rural areas to showcase the benefits of solar energy and stimulate economic growth.
- The ISA is working on transferring assets to the private sector to ensure the sustainability of solar projects, with a focus on overcoming financing challenges and attracting investments in solar energy.
- The organization provides technical assistance, capacity building programs, and policy support to help African countries develop bankable solar projects and create an enabling environment for private sector engagement in the renewable energy sector.
The International Solar Alliance (ISA) has been making significant progress in paving the way for increased solar deployment in Africa. Barakat Ahmed, the Regional Head for Africa at ISA, recently discussed the organization's efforts at the Djibouti Africa Forum. With 190 member countries signed up, the ISA has been focusing on supporting African nations in developing their solar energy capabilities. One of the key initiatives has been the implementation of smaller scale solar projects in rural areas, showcasing the benefits of solar energy and creating economic opportunities. Ahmed highlighted a recent project in Djibouti where two solar cold storages were commissioned, providing rural communities with a means to preserve agricultural produce and generate income. The success of these projects has led Djibouti to consider expanding the initiative to include more solar cold storages, indicating a growing interest in sustainable solar technologies. The ISA's objective of demonstrating the viability of solar energy through small scale projects is a crucial step towards encouraging countries to adopt solar solutions and develop sustainable economic models. Additionally, the ISA has been working on transferring assets to the private sector to ensure the long-term sustainability of these projects. Collaboration with partners and the private sector is essential to overcome the challenges of financing and attract investments in solar energy. Despite the vast solar potential in Africa, the continent only accounts for 2% of global solar energy investments due to perceived risks and lack of capacity. To address this, the ISA has established a global facility with payment guarantees to attract investment in African solar projects. The organization also provides technical assistance to help countries develop bankable projects and offers capacity building programs to enhance local expertise. Policy and regulatory support are also critical in creating an enabling environment for private sector participation. By working closely with member countries to develop appropriate policies and regulations, the ISA aims to instill confidence in the private sector and drive further investments in solar energy across Africa.
