The African continent has an enormous renewable energy potential which just began to be harnessed successfully. The adoption of innovative, affordable and efficient renewable energy solutions will support Africa in achieving sustainable development growth and economic transformation. To accelerate the energy transition and expand energy access in the continent calls for stronger, sustained and concerted efforts between public and private actors to attract private investments and technological transfers at a much higher scale than has so far been achieved.
Africa still faces major challenges related to ensuring access to energy for all and beyond, to the development of its industrial base to create much-needed jobs.
SVK’s mission is to create an enabling environment for renewable energy investments in African countries to meet local energy needs. Renewable energy is fundamental for Africa to achieve its inclusive and sustainable development.
In particular, there is an urge to:
- Increase market readiness and market confidence through additional market reforms;
- Expand private and policy dialogues paired with capacity building and technical assistance;
- Embrace private investment de-risking measures and the effective deployment of diverse tailor-made, one-stop financial development instruments;
- Implementing innovative business models able to bring development impact at scale in support of an energy transition
SVK Life-Transforming Engagements
- More countries are prioritizing renewable energy;
- SVK advocates for least-cost energy solutions that mitigate risks and offer business opportunities. Our approach is to advocate and promote the least-cost solutions that mitigate risks and offer viable business opportunities.
- Ensuring the transfer of technology to local operators, which is a panacea for sustainability. Technical skills that help provide quality power and meet future energy needs are key to success. Facilitating the training of local people to maintain and produce renewable energy helps develop entrepreneurship and job opportunities.
- Regulatory: Helping to facilitate non-obstructive and simple regulatory frameworks.