Wednesday
November 3
2021

Productive Use of Energy in Africa Is Powering Socio-economic Transformation While Offering Investment Opportunities

Africa needs energy for development and the socio-economic transformation of hundreds of millions of people. Increasing the productive use of energy (PUE) is an important way to unlock jobs, create incomes and deliver social impacts in local communities. Two reports released today by the Powering Renewable Energy Opportunities (PREO) (www.PREO.org) Programme outline the business case for investment into productive equipment and appliances and the scale of the investment opportunity that exists.

PREO is funded by the IKEA Foundation (https://IKEAFoundation.org) and UK aid (https://tea.carbontrust.com), via the Transforming Energy Access platform and delivered by the Carbon Trust (www.CarbonTrust.com) and Energy 4 Impact (https://Energy4Impact.org). The programme enables African businesses to harness clean energy to improve incomes, build climate resilience and reduce reliance on fossil fuels. To date it has funded 23 private sector and non-profit enterprises that demonstrate the business and impact case of PUE in multiple sectors. PUE refers to the type of energy demand that generates revenue, increases productivity, enhances diversity, and creates economic value.

Photo courtesy of Ministry of Environment – Rwanda.

Source: Africanews (link opens in a new window)

Categories
Energy, Investing
Tags
clean energy, economic, energy access, investment, nonprofits, renewable energy, scale, social impact