Africa has abundant renewable energy resources, with solar, wind, and hydro energy reserves accounting for 40%, 32%, and 12% of the world's total, respectively. The development potential of renewable energy is enormous. In recent years, African countries have accelerated the development of renewable energy. Various countries attach great importance to cooperation with Africa in renewable energy, and more and more enterprises are participating in the green development process in Africa.
Currently, many African countries are actively promoting the construction of renewable energy projects. The 2023 Outlook Report released by the African Solar Industry Association last year showed that the photovoltaic industry in Africa is accelerating its development. South Africa, Morocco, Egypt and other countries continue to take the lead in photovoltaic construction projects. More and more regional countries such as Cape Verde, Botswana and Eritrea are increasing their investment in photovoltaic industry and starting to build and operate large-scale photovoltaic projects.
The United Nations Economic Commission for Africa emphasized in a report that renewable energy sources such as solar, wind, and hydro are viable alternative energy sources to meet the rapidly growing electricity demand on the African continent. The World Bank is optimistic about the development prospects of renewable energy in Africa and has recently agreed to invest $311 million in developing renewable energy projects in West and Central Africa.
