Energy growth in Africa saw a shift in interest as the same number of projects were equally commissioned in both renewables and oil and gas sectors across Africa in 2024. The change in the energy landscape was driven by the need to provide access to electricity to 600 million people which is equivalent to 43% of the total population in Africa.
In 2024, 424.3 MW of solar and 821 MW of wind power were added into the capacity bringing the total capacity of renewables in Africa to approximately 21 GW. However, this number was largely attributed to the rapid development of renewable projects in Northern African countries and South Africa.
According to the International Energy Agency, Africa needs to acquire $190 million in yearly investment between 2026 and 2030 to guarantee that the renewables sector continues to thrive. Numerous investments for carbon capture and hydrogen projects have been made in various African countries such as Kenya and South Africa, scheduled to become operational between 2025 and 2030.
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