Africa will benefit from new investments thanks to the $2 billion Lekela is injecting into solar and wind power on the continent over the next five years.
In particular, it is targeting South Africa, Egypt, Senegal and Ghana.
Africa benefits from Lekela investments
According to CEO Chris Antonopoulos, the company, which produces 1 GW of energy in Africa, plans to generate a further 1.5 GW.
Lekala also intends to develop other sectors such as battery storage, green hydrogen and desalination plants.
Financing will come from equity and borrowings from multilateral development banks and export credit agencies.
The reason is that most African commercial banks do not yet provide long-term financing for such operations.
Facing climate change
According to the CEO, 600 million of Africa’s 1.3 billion inhabitants have no access to electricity.
As the population grows, Mr. Antonopoulos calls for a redoubling of investment to ensure economically and ecologically sustainable development.
The paradox is that the continent benefits from far less investment than elsewhere, yet is overexposed to the consequences of climate change.
According to a study by Oxford University, renewable energies will account for less than 10% of electricity production by 2030.
According to the Brookings Institution, one in five African countries does not have enough revenue to launch an energy transition.
The investments launched by Lekala will help to advance sustainable development in Africa.
