Africa: Energy future demands a united front

The continent needs a unified agenda to grow investment in renewable energy

If Africa is going to attract more investment, the African Union (AU) needs to do what the European Union (EU) is doing – Ademola Ogunbanjo, President and CEO of Oando Clean Energy.

Speaking at African Energy Week, Ogunbanjo joined a panel featuring Lindiwe Zwane, Principal: Origination and Coverage Outside SADC – East, Central and West Africa, Development Bank of Southern Africa (DBSA); Rivoningo Msibi, Group Executive for Renewables, Eskom; and Grant Berndsen, CEO, Terra Firma, to discuss balancing investment strategies and integrating renewables into the energy mix.

He noted that while each African country has its own strategy for deploying energy infrastructure, the continent needs a unified agenda to grow investment in renewable energy.

“And that agenda must, of course, be comparable with how we’re going to invest in the deployment of infrastructure for gas, for the basic goods that we’re talking about. That said, we must also stop waiting for foreign direct investments to grow sustainable energy infrastructure on the continent. Africa must invest in renewable energy infrastructure on the African continent,” he said.

Africa needs to decide what role it wants to play in the new energy drive

Citing the hydrogen project in Namibia – funded by German power utility RWE – Ogunbanjo said Africa needs to be disabused of the notion that it cannot afford a hydrogen production system.

“We can. We only need to reset our priorities. Africa needs to decide what role we want to play in this new energy drive. Do we want to continue exporting raw materials, as we have done with crude and gas for decades now? Do we want to do that with methane, coal, copper and tin? Or do we want to turn Africa into a battery manufacturing powerhouse? Because we need it.”

Weighing in, Msibi stated that while Africans are well aware of the continent’s challenges, there isn’t always enough focus on finding solutions. He added that addressing these issues requires strong, continent-wide policies to guide development.

“Africa on its own has a lot of renewable energy. In fact, if you start digging into the pockets of different countries, you’ll realise many are already using it. The issue is how to scale up adoption. We have the resources – rivers, mountains and pumped storage, and we also have the sun and the wind.

“We also have the resources when it comes to minerals, including those for greenhouse gas solutions, like platinum, which is quite critical. But as my fellow panellists said, the critical mineral is not the crystal. I think the real issue is at the level of execution,” said Mnisi.

Cover photo:  ESI Africa