News & Insights
APRA Investment Forum Kicks Off in Nairobi
Mobilizing Investments for Renewable Energy
Oct 14, 2024
The Accelerated Partnership for Renewables in Africa (APRA) convenes in Nairobi to align international cooperation and scale up investments for renewable energy projects across the continent.
The Accelerated Partnership for Renewables in Africa (APRA) officially commenced its inaugural Investment Forum in Nairobi, Kenya, on October 14, 2024. This significant event, co-hosted by the Government of Kenya and the International Renewable Energy Agency (IRENA), aims to mobilize investments and foster collaboration among various stakeholders in the renewable energy sector.
Objectives of the Forum
The APRA Investment Forum brings together ministers, investors, developers, and financial institutions to engage in open dialogue about the pressing need for renewable energy development across Africa. The forum's primary goals include:
Mobilizing Large-Scale Investments: Fostering a robust project pipeline to accelerate the energy transition and support green industrialization within APRA member countries.
Enhancing Energy Access: Aligning with global climate objectives by addressing Africa's vast renewable energy potential.
Facilitating Project Matchmaking: Creating opportunities for project developers to connect with potential financiers through dedicated matchmaking sessions.
Key Highlights
The forum spans three days and features a variety of activities designed to stimulate investment in renewable energy projects:
High-Level Panels and Technical Discussions: These sessions will focus on priorities and investment needs, innovative financing instruments, and the development of supply chains within APRA countries.
Project Exhibition: An exhibition area will showcase renewable energy projects from across the continent, providing global exposure and networking opportunities for stakeholders.
Bilateral Discussions: A closed-door space will facilitate direct discussions between financiers and project proponents to advance project development.
Notable Speakers
IRENA Director-General Mr. Francesco La Camera emphasized the importance of APRA's role in aligning international cooperation with Africa’s renewable energy priorities. He stated, “The success of global climate objectives is intrinsically linked to Africa realizing its vast renewable energy potential.”Kenya’s Cabinet Secretary for Petroleum and Energy, Hon. J. Opiyo Wandayi, highlighted the forum as a milestone under President Ruto’s leadership, stating that it mobilizes critical investments to support sustainable development while accelerating progress on global climate goals.
Background and Significance
The APRA partnership includes member countries such as Ethiopia, Ghana, Namibia, Rwanda, Sierra Leone, and Zimbabwe, along with partner nations like Denmark, Germany, the UAE, and the US. This collaboration is crucial for fulfilling commitments made under the Nairobi Declaration and aims to boost Africa's renewable capacity to 300 GW by 2030.As the forum unfolds over three days, it is expected to play a pivotal role in shaping Africa's renewable energy landscape and facilitating necessary investments that will drive economic growth and climate resilience across the continent.
Conclusion
The APRA Investment Forum in Nairobi marks a significant step forward in mobilizing resources and fostering collaboration among stakeholders dedicated to advancing renewable energy initiatives in Africa. By bringing together diverse actors from government, finance, and industry, this forum aims to create a sustainable future powered by clean energy solutions.
