Stimulating European commitment for Africa’s RE transition:
A new holistic European initiative to foster renewable energy market development through private investments in Africa
4 June 2019
Grand Hotel de la Minerve, Rome
Leaders from prominent African and European renewable energy (RE) sector actors gather in a closed-door event for the launch of renewAfrica, a new supporting initiative to boost renewable energy investments in Africa. The half-day event hosted by RES4Africa counts the high-level presence of the Italian government, European Commission representatives, renewable energy industry, international financing institutions, academia and think-tanks as well as other international partners to endorse the initiative and align on how to multiply and scale up Africa’s renewable energy investments.
The renewAfrica initiative is conceived to stimulate the creation of a one-stop-shop EU Support Program, with its own institutional framework, to effectively strengthen RE investments in Africa. Through this initiative, RE leaders cooperate to shape enabling environments for RE investment in Africa and enhance European private investment in support of the effective deployment of RE market development in Africa. The initiative will seek the inception of a new European facilitating instrument that provides adequate support at policy and regulatory level, ensures preparation tools across project lifecycles, as well as financial de-risking and capacity building measures.
To ensure sector-wide and multi-stakeholder participation, the conference closes with a non-binding Declaration of Intent gathering RE institutions and actors signed by 21 participants* who commit their interest and participation to the initiative.