Call issued for renewables investments in Africa

European Commission President Ursula von der Leyen and South African President Cyril Ramaphosa have launched the global campaign ‘Scaling up Renewables in Africa’ during the Global Citizen NOW event in Rio de Janeiro, Brazil.

COP28 had set the target of tripling renewable energy and doubling energy efficiency worldwide, and to achieve these goals, investments will be necessary. According to the Commission, this new campaign is meant to mobilize investments into renewables in Africa, to tap into its “enormous” potential.

As disclosed, the campaign will rely on the policy support of the International Energy Agency and will seek to drive new commitments on policy and finance from governments, financial institutions, the private sector and philanthropists. Coordinated with the international advocacy organization Global Citizen, it will conclude around the G20 summit in South Africa in November 2025.

This initiative builds on the EU-Africa Global Gateway Investment Package, which supports Africa through projects jointly identified in priority areas. As per the Commission, Global Gateway projects focus on accelerating the green and digital transition, creating sustainable growth and jobs, as well as supporting health systems and improving education and training. The package contains €150 billion worth of investments and is also designed to attract investments from the private sector.

Ursula von der Leyen commented: “Africa’s clean energy journey is picking up speed. We are proud to be part of it. Europe has been investing massively in renewable energy projects in Africa with Global Gateway. Now we are calling on the world to join us. I’m happy to co-host the campaign Scaling up Renewables in Africa with President Ramaphosa. Together, we will help bring clean, affordable power to Africa.”

Cyril Ramaphosa stated: “Africa has enormous potential and the necessary resources to lead a revolution in renewable energy. A mass roll-out of renewable energy across our continent would enable many countries to propel their economies along a clean energy development path. We welcome this initiative, which, if undertaken in a just and inclusive manner, could have a huge impact on the lives of Africa’s people.”

To remind, in September 2024, the European Union committed R628 million (approximately €32 million) in grants to promote the sustainable development of green hydrogen value chains in South Africa.

The European Commissioner for Energy Kadri Simson remarked at the time that the investment “shows the EU Global Gateway strategy in action, boosting smart, clean and secure connections in the energy and transport sections. Our cooperation in support of South Africa’s green hydrogen agenda aims to accelerate the green transition, drive sustainable development, create new economic opportunities, and build a more sustainable future for the region.”

It is worth mentioning that the Global South, including Africa, has been recognized as a promising market for green fuels. By implementing the concept of green shipping corridors, countries in the Global South could be supplying green fuels to the countries of the Global North.

In August 2024, trade and employer association Danish Shipping urged Denmark and the EU to intensify investments in Africa, reflecting on the continent’s potential for both green energy and economic growth.

Anne H. Steffensen, CEO of Danish Shipping, said at the time: “Africa has massive potential for renewable energy, which can play a key role in the future of green fuels for shipping. If we are to ensure the green transition, it is crucial that we strengthen cooperation on the development of these energy sources.”