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Africa's new energy market has great potential

29-06-2022

The global carbon emission reduction continues to advance, and the African region is also gradually adjusting the energy structure, and renewable energy has grown significantly. The six countries of South Africa, Namibia, Kenya, Egypt, Morocco and Mauritania recently launched the African Green Hydrogen Alliance, which aims to promote the African continent to become a leader in the development of green hydrogen energy, accelerate the transition from fossil fuel dependence and switch to new energy technologies.


Some African countries are considered well-suited for developing a green hydrogen industry because of their strong solar and wind potential and large areas of non-arable land. German Chancellor Scholz has recently visited Senegal, Niger, South Africa and other countries to discuss with the leaders of these African countries to strengthen cooperation in the field of hydrogen energy, showing the willingness to join hands with Africa to accelerate the transition to new energy.


According to the World Energy Outlook 2021 report released by the International Energy Agency, the investment needs of the solar energy industry alone in sub-Saharan Africa will reach US$6 billion in 2021. Currently, the African Development Bank has a $500 million fund to support small-scale renewable energy projects and plans to invest $20 billion in sub-Saharan Africa to build a solar power area covering 11 countries.


At the "China-Africa New Energy International Cooperation Video Seminar" held recently, Zhang Shiguo, executive director of the China New Energy Overseas Development Alliance, suggested that Chinese enterprises should make good use of their local advantages and seize the opportunity for the development of the new energy industry in Africa. Through further strengthening of renewable energy information sharing, standard promotion, country-to-country connection, channel complementarity, project promotion, etc., it will promote carbon neutrality and international cooperation in renewable energy to a higher level and create a new situation.


At present, there are many companies in my country that are deeply involved in the African new energy market. In order to continue the positive trend, cooperation should be further optimized.


On the one hand, make good use of the bridge role of overseas economic and trade cooperation zones in China-Africa new energy industry cooperation, improve top-level design, promote the improvement of infrastructure environment outside the zone, build multi-level fiscal and taxation promotion policies, and establish overseas cooperation zone industries. Mechanism and other multiple measures to help Chinese new energy companies go to Africa, and at the same time drive African countries to rapidly improve the level of industrial and energy development.


On the other hand, facing the challenges of local policies, capital, technology, etc., with the idea of "high-end entry, planning first", innovating the development method of "energy integration and field compounding", and attaching importance to the development responsibility of "social welfare and territorial growth", Make good use of the "going to sea" mechanism promoted by the government, driven by finance, and linked by enterprises.


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