07 March 2021| Articles
Southern Africa holds significant promise for renewable energy development. In recent years, the region has increased its share of renewables in power generation from 23 per cent six years ago to 40 per cent today, however its resource abundance means much more is possible.
With enabling policy and investment steps, IRENA analysis shows the region could achieve a 90 per cent share of renewables in total primary energy by 2050 – aligning regional development with the low-carbon growth necessary to ensure an inclusive and sustainable future – growing jobs, improving livelihoods and deepening energy access.
Despite this potential, regional electrification rates remain a challenge and broader renewable energy investment trends in sub-Saharan Africa are low relative to global investment trends. Average annual investments of around USD 6 billion were directed at renewable energy technologies in the period between 2013-2017.
To drive the acceleration of Southern Africa’s energy transition, bolster energy access and develop the region’s sustainable energy ecosystem, IRENA and the SADC Centre for Renewable Energy and Energy Efficiency (SACREEE) are implementing the SADC Renewable Energy Entrepreneurship Support Facility.
The Facility aims to support renewable energy market development in Southern Africa through technical support for small and medium sustainable energy business owners. Through technical and financial guidance delivered through tailored workshops, the facility will improve entrepreneurs’ understanding of how to effectively engage financial institutions and secure financing.
It will also help broker productive relationships between regional entrepreneurs and relevant financial institutions, support strong business ideas and help small business owners scale their operations.
The facility is currently inviting its second cohort of entrepreneurs to submit applications for technical support. The applications will go through a selection process before successful applicants are identified.
Application form can be downloaded here.
The deadline for applications is 19th March 2021.
16 March 2021 | Press Releases