#Africa consumes about the same amount of energy as the state of #NewYork on its own.
just some topics quickly touched on by Professor Romano Prodi, former President of the European Commission
In the central section of the continent, there is almost a total lack of electricity. For the rest of Africa, practically everywhere, there are constant #black-outs. #Marocco is an exception, nearly reaching European standards.
#Electricity demand is soaring, and where you have 0 kWh, you’re stuck in the Middle Ages, rather than the digital age and 5G.
These are just some topics quickly touched on by Professor Romano Prodi, who was Italian Prime Minister twice and former President of the European Commission, and still Special Envoy of the #UN Secretary General for the #Sahel region.
My opinion is that the African market is already ready for #solar with #storage. The price per kWh of solar plus storage (LCOE) for the end consumer is today equal to or less than that taken from the national grid, when it’s available. Diesel generators, in terms of price, were already beaten years ago. However, there is the need for local economic activities to see their investments in solar energy financed with short term, acceptable rates.
The European Union has the authority, expertise and financial capacity to prepare, initially in some key African countries, platforms to offer guarantees through selected local #banks in order to finance medium-small sized PV #hybrid & storage systems, perhaps built with European technology. In return, some countries would have to ensure the gradual decrease of #Diesel subsidies.
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In the age of “helicopter money”, the ECB could contribute to baking these platforms with guarantees. The European #PV industry, already widely present on the continent, would flourish again.
This would create good jobs, developing the European-quality #storage chain, as well as the development of African countries, more markets, well-being and sustainability. And consequently, less migration.
Enel Green Power, led by Francesco Starace, has planned an investment of almost one billion Euro in Africa by 2021. And #Jua will do our part with ideas that are simple, effective, and innovative.