Committing to sustainable energy development can be achieved alongside socio-economic development
First stated by President
Given
For existing examples, observers need look no further than the host nation itself,
Despite this success,
Interconnectivity and connectivity
Interconnectivity and connectivity are seen as a key pillar in the ambition to achieve sustainable energy access and achieve cross-border, continent-wide socio-economic development. With over half the population of the continent lacking electricity access, there is an appreciation that there is no one-size fits all approach. Both off-grid and grid-connected energy generation solutions and transmission projects are sought to improve domestic access whilst an attractive environment is created, catalysed by the African Continental Free
Energy security
In addition to the advantages that increased regional integration can provide in respect of energy security and enhanced regional trade, there is an appreciation of the importance of domestic energy security. Energy diversification is important alongside the identification of reliable baseload power sources.
However, there is also a sense that there is an unfairness to western-dictated development agendas that prioritise renewable power generation over traditional energy sources. These traditional energy sources may, in the short to medium-term, provide the type of reliable baseload power to enable the socio-economic growth that ultimately facilitates diversification and decarbonisation. With many African nations only beginning to realise the potential of domestic gas reserves, there is clear potential here if suitable financing solutions can be identified.
Battery storage
Battery storage is of significant interest on the continent and has the potential to be a major growth area. There are a number of potential applications for battery storage in an African context and it represents a crucial step in facilitating reliable energy access, including from renewable energy sources.
Such applications include balancing the potential misalignments of generation and demand, common when using renewable energy sources, as well as mitigating the impacts of intermittent generation generally. This includes load shifting, by storing excess electricity generated during off-peak hours and re-supplying to the grid during peak demand periods, optimising energy consumption and reducing strain on the grid; and providing a reliable power supply and enhancing grid stability and resilience through instantaneous supply during peak demand, voltage fluctuations, or power outages.
The importance of these areas in supporting both critical infrastructure such as hospitals and schools, and providing reliable energy supply for private businesses and citizens is clear. Furthermore, off-grid hybrid Independent Power Producer (IPP) projects utilising battery storage alongside renewables to service industrial clusters in various key sectors are an emerging area within the battery storage space.
Financing
Financing remains a crucial key to enable project development and, with the conference falling so close to the Paris Climate Summit, it offered an opportunity to emphasise and re-emphasise the wishes of African leaders and developers to change the financing environment in which they operate. There is a broad desire to make financing more affordable and predictable, with standardised, longer tenors and lower interest rates. Possible solutions to this include a global green bank, funded by green taxes and levies to find new financing solutions for the energy transition.
Read the original article on GowlingWLG.com
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
Mr Jonathan Brufal
Suite 1600,
M5X 1G5
Tel: 4168627525
Fax: 4168627661
E-mail: info@gowlingwlg.com
URL: www.gowlingwlg.com
© Mondaq Ltd, 2023 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source