Thursday
November 21
2019

African Cleantech Deals Stand Over Regular VC Funding Like A Familiar Solar Tower

By Andrew Christian

Africa has all the makings of the world’s cleanest economic revolution. By leveraging renewable energy sources to brighten an extensive stretch of urbanization, the continent’s sunshine is not entirely going to waste. Even though the installations so far are less than half of what’s in place in the UK, cleantech is playing a Jesus role is supporting the region’s double-swelling populace.

According to the International Energy Agency, renewables form part of what will make industrialization in Africa a reality, over the next two decades. In a report released this November, the agency predicted a sun-enabled boom in countries across the continent. This forecast could provide hundreds of millions of African homes with clean electricity for the first time.

By now, it is understandable that Africa’s hunger for energy will only continue to grow. But the IEA says it will do so at double the rate of the global average in the next 20 years while it unseats China and India as the world’s most populated region. The rise of 800 million people from today in 2050, will, for one, bring about a continent where the demand for housing and infrastructure will give birth to a whale-sized crave for energy. On the backs of the by-the-corner industrial revolution, that energy is likely to be renewable.

Photo courtesy of Axel Fassio / CIFOR.

Source: WeeTracker (link opens in a new window)

Categories
Energy
Tags
clean energy, economic development, emerging markets, renewable energy, solar energy, venture capital