Moving Beyond Fossil Fuel Reliance
More than half of Africa’s primary energy supply comes from fossil fuels, which also represent around 40% of African exports. Countries such as Algeria, Angola, Chad, Nigeria and the Sudan are highly dependent on oil and gas as a source of revenue. The emerging low-carbon future will lead to risks of stranded assets, in addition to the already serious effects of price volatility for internationally traded commodities.
Renewables, by contrast, offer African economies prospects for economic growth, cost-effective technologies to expand energy access and quality of access, and industrial development along new value chains, with substantial, local job creation potential.