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The African Development Bank and Partners host Energy Week in Abidjan
The African Development Bank (AfDB) is hosting and co-organizing Energy Week, a series of events, including high-level discussions and partnerships focusing on lighting up and powering Africa, and unlocking the continent’s huge energy potential. Energy Week runs from Monday, September 14 to Friday, September 18 in Abidjan.
Since taking office on September 1, the President of the African Development Bank, Akinwumi Adesina, has reaffirmed the position of energy among the key priorities for the AfDB. “Africa is blessed with limitless potential for solar, wind, hydropower and geothermal energy resources,” he said during his inaugural speech. “Unlocking the huge energy potential of Africa, for Africa, will be a major focus of the Bank. The Bank will be a leader on this critical issue, for nothing is more important for Africa’s economic growth and development.
“We will be bold and creative, to build strategic partnerships on energy for Africa and harness resources from the public and the private sectors. We will work closely with our political leaders and support African countries to power their economies. As a Bank, we will launch a New Deal on Energy for Africa.” Energy Week will launch a dialogue with key stakeholders to set out the New Deal on Energy for Africa that will accelerate energy supply and access across the continent.
Events taking place during Energy Week include the ECOWAS Sustainable Energy Policy & Investment High Level Forum, the “Towards a New Deal on Energy for Africa” High Level Consultative Stakeholder Meeting, the 2nd West African Forum for Clean Energy Financing, the technical meeting of the Africa Renewable Energy Initiative, and the International Renewable Energy Agency (IRENA) West Africa Clean Energy Corridor Technical Workshop. Leading investors, project developers, policymakers, development institutions, entrepreneurs and heads of state are expected to attend.
The ECOWAS Sustainable Energy Policy & Investment High Level Forum takes place on September 14-18. It will bring together top-level policy- and decision-makers, project promoters, investors and international partners to meet, discuss and explore relevant inter-linkages between the ‘enabling environment’ and project development and financing, and identify concrete investment opportunities. The latter will be country-driven based on the Sustainable Energy Country Action Plans, National Renewable Energy Action Plans (NREAPs), National Energy Efficiency Action Plans (NEEAPs), and the Sustainable Energy for All (SE4All) Action Agendas of the ECOWAS Member States.
The technical meeting of the Africa Renewable Energy Initiative will take place on September 16, to finalize the action plan for the Initiative.
The African Development Bank’s High Level Stakeholder Consultative Workshop “Towards a New Deal on Energy for Africa” will take place on September 17-18 and will bring together leaders in the energy sector to identify actions for the launch of the New Deal on Energy for Africa. It will also chart next steps towards a Transformative Partnership on Energy for Africa, providing a major platform for structured private sector, multilateral and bilateral partnerships and financing to solve Africa’s energy challenge.
The West Africa Forum for Clean Energy Financing (WAFCEF2) is West Africa’s premier clean energy investment showcase. Participating projects were selected through a rigorous evaluation process, in response to a call for proposals. Twenty projects were shortlisted, and have received dedicated support and assistance from CTI PFAN professional financing advisors to help structure bankable business plans and professional investment pitches. The 10 best projects from this shortlist will be presented at the WAFCEF2 Investor Forum on September 17.
The IRENA Africa Clean Energy Corridor in West Africa calls for the accelerated deployment of, and cross-border trade in, renewable power. IRENA will facilitate a technical stakeholders’ meeting on September 18, and launch the IRENA Project and Financial Navigator and Sustainable Energy Market Place, which aims to make the overall renewable energy project development process more transparent, practical and explicit.
The Energy Week events are organized in partnership with the ECOWAS Centre for Renewable Energy and Energy Efficiency (ECREEE), the Climate Technology Initiative – Private Financing Advisory Network (CTI-PFAN), the International Renewable Energy Agency (IRENA), the Sustainable Energy for All (SE4All) Africa Hub, and the Sustainable Energy Fund for Africa (SEFA). They are supported by the United Nations Industrial Development Organization (UNIDO), the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), the Government of Côte d’Ivoire, the Spanish Agency for International Development Cooperation (AECID), the Austrian Development Cooperation (ADC), the European Union (EU), the United States Agency for International Development (USAID), the Global Environmental Facility (GEF), the International Center for Environmental Technology Transfer (ICETT), la Banque ouest africaine de Développement (BOAD), and the African Biofuels and Renewable Energy Company (ABREC). ABREC is affiliated with the ECOWAS Bank for Investment and Development (EBID).
The African Development Bank plays a leadership role in energy on the continent as host of the Secretariat of the African Energy Leaders Group (AELG), host of the Sustainable Energy for All (SE4ALL) Africa Hub, an architect of the Programme for Infrastructure Development in Africa (PIDA) and a key financier for the PIDA Priority Action Plan, an anchor partner to President Obama’s Power Africa Initiative, and a key partner on the new Africa Renewable Energy Initiative. The AfDB has an active energy portfolio of around USD 10 billion, and lending to energy sector projects in recent years has on average exceeded USD 1 billion annually. The Bank is also a leader in clean energy financing and host to a suit of concessional finance instruments including SEFA, GEF and the Climate Investment Funds.
For more information on Energy Week, visit: https://www.afdb.org/en/energyweek
Official hashtag: #AfDBEnergyWeek
About the SE4ALL Africa Hub
The UN Secretary General’s Sustainable Energy for All (SE4ll) initiative was launched in September 2011 with the aim of achieving three main goals by 2030 (i) ensuring universal access to modern energy services; (ii) doubling the global rate of improvement in energy efficiency; and (iii) doubling the share of renewable energy in the global energy mix. The AfDB is at the forefront of the implementation of the SE4ALL Initiative and hosts the Africa Hub in partnership with the African Union Commission, the NEPAD Planning and Coordination Agency and UNDP. The mission of the Hub is to coordinate and facilitate the implementation of the SE4ALL initiative on the African continent. The Hub also contributed to the establishment of the African Energy Leaders Group (AELG), and the Secretariat of the AELG is housed at the AfDB in conjunction with the Hub.
SEFA is a USD 90 million multi-donor facility funded by the governments of Denmark, the United Kingdom and the United States. It supports the sustainable energy agenda in Africa through: grants to facilitate the preparation of medium-scale renewable energy generation and energy efficiency projects; equity investments to bridge the financing gap for small- and medium-scale renewable energy generation projects; and support to the public sector to improve the enabling environment for private investments in sustainable energy. SEFA is hosted by the Energy, Environment and Climate Change Department of the AfDB.
ECREEE is a specialized agency of the Economic Community of West African States (ECOWAS) which acts as an independent body, within the legal, administrative and financial framework of ECOWAS rules and regulations. The overall objective of ECREEE is to contribute to the sustainable economic, social and environmental development of West Africa by improving access to modern, reliable and affordable energy services, energy security and reduction of energy-related GHG emissions and climate change impacts on the energy system.
About CTI PFAN
CTI PFAN is a multilateral, public-private partnership initiated by CTI in cooperation with the UN Framework Convention on Climate Change’s Expert Group on Technology Transfer.
The International Renewable Energy Agency (IRENA) is an intergovernmental organisation that supports countries in their transition to a sustainable energy future, and serves as the principal platform for international cooperation, a centre of excellence, and a repository of policy, technology, resource and financial knowledge on renewable energy. IRENA promotes the widespread adoption and sustainable use of all forms of renewable energy, including bioenergy, geothermal, hydropower, ocean, solar and wind energy in the pursuit of sustainable development, energy access, energy security and low-carbon economic growth and prosperity.