IFU’s Post

Africa’s Energy Sector: The Path to COP28 and ACS Goals In the spirit of international cooperation, the recent High-Level Event at the Berlin Energy Transition Dialogue spotlighted the critical pathway Africa and Europe can navigate together to meet the ambitious COP28 targets. The focus was on a strategic and pragmatic approach, leveraging the Africa Continental Power System Master Plan (CMP) and the Africa Single Electricity Market (AfSEM), with a special emphasis on the urgent need for developing transport and transmission infrastructures. Africa’s vast potential in renewable energy is undeniable. With the CMP aiming to elevate our renewable energy capacity from 60 GW to an astounding 763 GW, we’re looking at not just an energy transition but a revolution. This transformation is pivotal for our sustainable future, promising to significantly boost our energy generation mix with 61% renewable sources. However, realizing this vision demands more than just ambition; it requires concrete action, particularly in the realm of building robust transmission infrastructures. These are not mere physical constructions but the catalysts for creating a market that attracts further investments in power generation. The estimated investment of $30 billion in transmission to connect regional pools is a critical step towards linking regions and creating a unified market across the continent. The collaboration between public and private sectors is essential in this journey. Moving beyond traditional boundaries, this partnership aims to cultivate the necessary environments for investment. The focus on transmission marks a significant shift towards enabling renewable energy penetration and reducing system costs, highlighting the need for innovative funding models and legal reforms to facilitate private investment. Looking forward to the 7th AU-EU Summit, the strengthened partnership between Africa and Europe holds the key to transforming these ambitious plans into reality. The Europe’s pledge towards the Africa-Europe Green Energy Initiative underscores the commitment to supporting sustainable energy development in Africa, emphasizing the importance of moving from planning to execution. #AfricaEnergy #RenewableEnergy #Sustainability #COP28 #EnergyTransition #Innovation #PublicPrivatePartnership

Congratulations to our Director of Strategy, Mark Hinnells and Chief Economist, Farhad Taghizadeh-Hesary, who have attended a two day workshop in Bangkok on a book called "Financing the energy transition in SE Asia", organised by ERIA: Economic Research Institute for ASEAN and East Asia. There is a clear need for energy market reform aimed at enabling decarbonisation, including making grid connection for renewables easier and cheaper, and for grid integration across SE Asia (together with storage and real time pricing) to enable higher uptake of renewables. Mark’s chapter is on policy and finance for energy efficiency, achieving market transformation through energy labels, incentives and regulation, because using energy more efficiently is as important as generating more of it from renewables. Thank's to the fantastic organisation by ERIA: Economic Research Institute for ASEAN and East Asia. We are very happy to support this valuable work. #COP28 #COP29 #NDC #ASEAN #climateemergency #climatechange #sustainablefinance #emissionstrading #greenbond #energyservices #renewableenergy #windenergy #solarPV #energyefficiency

Senegal’s Path to a Greener Future: Recommitting to €2.5 Billion Just Energy Transition at COP29 🌞🔋 Senegal is gearing up to make a major commitment to renewable energy!🌱 At the upcoming COP29 conference in Azerbaijan, Senegal is expected to recommit to its €2.5 billion Just Energy Transition Partnership (JETP), a pivotal program to reduce fossil fuel dependence and expand renewable power in its energy mix. This investment plan, supported by major nations like France, Germany, and the EU, could transform Senegal's energy landscape and drive sustainable development. The JETP model, which has already been adopted by South Africa, Indonesia, and Vietnam, aims to accelerate green energy in emerging economies through substantial funding. Senegal's commitment represents a bold step toward a cleaner, more resilient future. 🌍 Read the full article by Energy Connects here: https://lnkd.in/d9NNq4VA #RenewableEnergy #JustEnergyTransition #Senegal #COP29 #GreenEconomy #SustainableDevelopment

Africa accelerates its #renewableenergy #transition with the launch of the Accelerated Partnership for Renewables in Africa (APRA) at ##COP28. Led by IRENA, APRA targets a #renewable capacity increase from 56 GW to 300 GW by 2030, aiming to tackle #climatechange and fuel economic growth. Tailored strategies, private sector engagement, and collective action are emphasized to drive #sustainableenergy initiatives and foster #green #industrialization. APRA offers a promising pathway towards a future powered by #renewableenergy, ensuring inclusive economic growth across the continent. #RenewableEnergy #ClimateAction #AfricaDevelopment #climatechnage 

At COP29 Azerbaijan, finance is central, with private sector investment crucial to accelerating renewable energy goals. Speaking during a panel discussion COP29 Azerbaijan during Confederation of Indian Industry ‘s report launch on 'Indian Industry Expectations,' Mr Sanjay Gupta, CBO of Jakson Group, emphasized on innovative solar financing as key to overcoming India’s solar infrastructure and funding barriers. He highlighted the need for strategic fiscal and policy measures to unlock private investment as well as reduce costs. Jakson’s partnerships across markets highlight how collaboration supports effective project navigation in different economies—paving the way for a cleaner, greener future. CII-ITC Centre of Excellence for Sustainable Development I International Solar Alliance #COP29 #CII #Jakson #SolarEnergy #ClimateAction #InnovativeFinancing #EnergyTransition

European Union And UNDP Delegation Explores Sustainable Energy Projects In Egypt’s Sharm El-Sheikh H.E Christian Berger, the EU Ambassador to Egypt, along with Alessandro Fracassetti, UNDP Egypt Resident Representative, and Ms. Hoda El-Shawadfy, Assistant Minister of Environment for Environmental Tourism, undertook a comprehensive visit to EU and UNDP-funded projects in Sharm El-Sheikh. This initiative falls under the joint project “Supporting the COP27 Presidency” in the Ministry of Foreign Affairs. The delegation’s focus was on exploring sustainable and renewable energy projects, with particular attention given to solar power initiatives. The tour encompassed various locations, starting with solar power plants funded by the European Union. A notable highlight was the extensive solar car shed at […] Read the full story here: https://lnkd.in/gVXbjmVj #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #middleeast #africa #india #asiapacific #asia #egypt #europeanunion #middleeast #renewableenergy #sharmelsheikh #solarenergy #undp

“The Philippines’ competitive market structure arguably presents an opportunity for the private sector to move faster and leverage carbon financing opportunities potentially ahead of counterparts from regulated markets. If scaled successfully, this new mechanism can attract multi-billion dollars worth of inflows into the country that will help fund our energy transition, create new green jobs, boost the economy and help the country attain its goal of reaching 50% renewables share by 2040.” In his article for The Philippine Star, ACEN CEO Eric Francia emphasized how our country is at the vanguard of the move away from fossil fuels to boost renewable energy, with ACEN at the helm. The company has executed the world's first market-based ETM, and is now setting up a pilot for Transition Credits, which will support the replacement of coal with clean energy and ensure a just transition for communities. With initiatives like these, the Philippines is not only meeting international climate goals but also positioning itself as a leader in the global energy transition. #COP28 #CleanEnergyTransition Read: https://lnkd.in/g_DDQ-Rf Learn more: https://lnkd.in/gkGRBZGe

🔹 What to Expect at #COP29: A Crucial Year for Renewable Energy 🔹 With COP29 approaching, all eyes are on the next steps for renewable energy. The recent report, “Delivering on the UAE Consensus,” from Global Renewables Alliance (GRA)International Renewable Energy Agency (IRENA) and COP Presidencies outlines key priorities if we’re to meet the ambitious targets of tripling renewable capacity and doubling energy efficiency by 2030. Here’s what to watch for at #COP29: #Accelerated Deployment: #COP29 will drive plans for scaling up renewable energy technologies globally. Expect discussions around policy frameworks and reducing trade barriers to make renewable adoption faster and more widespread. #Financing the Transition: There’s a clear call for mobilizing capital. #COP29 will focus on attracting large-scale investments to fund critical projects and infrastructure, a must to make real progress on the 2030 targets. #Strengthening International Collaboration: #COP29 will encourage deeper global partnerships. Cross-border cooperation is key to sharing technologies, harmonizing standards, and facilitating trade to make green energy a global reality. #COP29 represents a pivotal moment – not just to set targets, but to put practical, scalable plans into action. https://lnkd.in/ehUmFPKx

COP29 underscored the importance of private capital and country-level commitments in driving Southeast Asia’s energy transition. However, private sector participation depends on financial viability, which is only possible when supported by favourable regulatory policies.    Southeast Asia is already making strides in this direction. The Philippines now permits 100% foreign ownership in renewable energy projects. Indonesia has relaxed local content requirements for green energy investments, and Vietnam has introduced direct power purchase agreements for renewable energy. These initiatives demonstrate how enabling policies can attract investments to combat climate change while fueling economic growth.    As we look to 2025, there is hope for more enabling policies across the region to create an environment conducive to #sustainableinfrastructure development.    Read more about what lies ahead for Southeast Asia here: https://lnkd.in/e57mw-DU 

IRENA released a report outlining actions needed to meet renewable energy targets set by COP28. ➡ The goal is to deploy 1.1 TW of renewable energy capacity annually by 2030. ➡ 123 national governments and supranational blocs committed to tripling global renewable energy capacity to 11 TW by 2030. ➡ They also pledged to double the global average annual rate of energy efficiency improvements from 2% to 4%, until the end of 2030. ➡ Stressed the importance of building a workforce for the energy transition. ➡ Incentives are needed to stimulate the green hydrogen market and develop grid infrastructure for global energy trade. https://lnkd.in/eSSZS-NT ➡ IRENA highlighted the need for a significant increase in investments, from $570 billion in 2023 to $1,550 billion annually between 2024 and 2030. ➡ G20 nations are expected to lead, growing renewable capacity from under 3 TW in 2022 to 9.4 TW by 2030. ➡ International cooperation and strategic use of public finances are crucial for achieving COP28 goals. ➡ Structural reforms, particularly in multilateral finance mechanisms, are necessary to support the energy transition in developing countries. #IRENA #cop28 #2030pledge #renewable #energy #developing #developed #countries #energyoutlook #transition