June 13, 2024
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ELECTRICITY RENEWABLE ENERGY

Africa to Lead Global Renewable Energy and Green Transitions – AfDB President

Dr. Akinwunmi Adesina, President of the African Development Bank (AfDB) Group, says Africa will play a pivotal role in driving the global agenda on renewable energy and green transitions.

He made this statement during a media conference in Nairobi, held alongside the AfDB Annual Meetings 2024 that commenced on Monday.

This event, marking the 59th Annual Assembly of the AfDB, the 50th meeting of the African Development Fund (ADF), and the 60th anniversary of AfDB, provided a platform for Adesina to highlight Africa’s significant potential in renewable energy.

“Africa will drive the global agenda on renewable and green energy transitions for two reasons. We have great sunshine, which has about 11 terawatts of solar potential. That is the highest solar potential you have anywhere in the world. And the level of solar radiation in Africa is the highest anywhere you will find in the world,” Adesina emphasized.

He pointed out that Africa’s abundant solar energy potential positions it as a crucial player in global renewable energy initiatives.

Additionally, Adesina noted the growing interest in green hydrogen, green ammonia, fertilizers, and jet fuels, which are dependent on renewable energy sources such as solar power.

Adesina highlighted Africa’s wealth of natural resources, including platinum, copper, and lithium, which are essential for the burgeoning Electric Vehicle (EV) market. He stressed the importance of strategically harnessing these resources to boost Africa’s transformation and establish its prominence in global value chains.

“Africa today has 90 percent of all the platinum in the world. It has well over 60-70 percent of all the copper you have worldwide. Fifty percent of all the other metals, whether nickel or lithium, Africa has a massive amount of these natural metals that will determine the future of electric vehicles in the world,” he stated.

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