A recent report entitled Ways for Africa’s energy future of the technology group Wärtsilä offers power system modeling for three African countries, Nigeria, South Africa and Mozambique. The report notes that they can leapfrog developed nations if they don’t rely on conventional fossil fuel-based power generation. However, to enable such a massive transformation, a combination of climate finance, effective planning and system reforms is essential.
According to the report, replacing coal with renewable energy, including solar and wind, when backed by the necessary infrastructure, combined with the flexibility of engines and energy storage, can generate enough energy to feed around 100 million people in Nigeria, South Africa and Mozambique to provide electricity to those who currently do not have universal access to energy. At the same time, it is the most effective way to reduce energy costs and improve reliability.
The report’s modeling also shows that 1) Nigeria can reduce electricity costs by 74% on its path to net-zero by 2060 if 1,200 GW of clean capacity is added to its power system; 2) South Africa can achieve a 17% emissions reduction and cumulative system savings of US$26 billion by adding 40GW of solar PV and wind power by 2032; 3) Mozambique can save 5.6 million tons of emissions between 2022 and 2032 and save 84 million USD in electricity generation by 2032 with 3 GW of clean capacity.
However, all of these outcomes require a total investment of around $119 billion over the next decade, which is only going to be possible when wealthy nations deliver on the promise Provide $100 billion in climate finance annually from 2020.
Although post-COVID challenges regarding funding and climate policy remain, Wärtsilä President and CEO Håkan Agnevall said that COP27 (to be hosted in November of this year) “is the perfect opportunity to deliver on global climate finance pledges.”
As a global community, we can use this moment to act and unlock Africa’s renewable potential. This investment must be combined with effective planning and system reforms to improve access to energy and create the renewable energy systems of the future.
— added Håkan.
The report also points out that setting clear strategies to build well-functioning flexible renewable energy grids, highlighting the new opportunities and regulatory reforms are necessary to lay the groundwork and stimulate the transformation.
Click this link to view the full report.