Africa needs $40bn annual grid investments for stable electricity

0
67

African countries will require an average of $40bn power grid investments annually for about five years to deliver stable electricity to citizens on the continent, Kola Adesina, Group Managing Director, Sahara Power Group, has said.
Delivering a Keynote Address on “The Future of Power in Africa” over the weekend at the Lagos Business School, Adesina said projections indicate an increase in energy demand across Africa in the coming years.
He noted that in 2040, this demand could be around 30 per cent higher than what was obtainable currently, adding that it was vital for all stakeholders to work towards shoring up the continent’s power grids through continuous investments.
“Massive investment in Africa’s grids is critical to improve system reliability, expand access and facilitate the integration of variable renewables,” he stated.
Adesina added, “Annual investment in electricity grids should more than triple in the 2026‐30 period, compared with 2016‐20, reaching $40bn per year on average. Distribution networks account for over two‐thirds of this total.”