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According to a new research report by Bloomberg New Energy Finance, major African economies are increasingly looking to use wind energy to power
their homes.
And, it will be part of
a continent-wide trend towards clean energy adoption.
As the continent's most advanced economy, South Africa is the clear leader
in renewable energy policies and projects in the region.
South Africa, for example, plans to increase its wind capacity by 3.
3 GW by 2024 as it both addresses the problems of its national power company, Eskom, and strives to reduce its reliance
on coal.
Kenya, another major African renewable energy leader, started building Africa's largest wind farm in 2019 and is expected to soon source clean electricity
from a variety of renewable energy sources, including geothermal and solar.
Investment in clean energy in sub-Saharan Africa jumped from US$2.
3 billion in 2017 to US$7.
4 billion
in 2018.
South Africa accounted for $4 billion in investment, driven by large onshore wind projects in
2018.
Driven by policy incentives, clean, renewable energy is being adopted across Sub-Saharan Africa and is receiving international support to overcome local funding shortfalls
.
Although clean energy policies are somewhat limited to tax incentives, BNEF analysts believe that "in the long run, insufficient hydropower supply and reluctance to increase coal financing will drive investment
in renewable energy.
" "It is expected that this will help to reduce the infrastructure costs required to implement new projects to some extent, thereby reducing the use of
natural gas and coal.
"
According to a new research report by Bloomberg New Energy Finance, major African economies are increasingly looking to use wind energy to power
their homes.
And, it will be part of
a continent-wide trend towards clean energy adoption.
As the continent's most advanced economy, South Africa is the clear leader
in renewable energy policies and projects in the region.
South Africa, for example, plans to increase its wind capacity by 3.
3 GW by 2024 as it both addresses the problems of its national power company, Eskom, and strives to reduce its reliance
on coal.
Kenya, another major African renewable energy leader, started building Africa's largest wind farm in 2019 and is expected to soon source clean electricity
from a variety of renewable energy sources, including geothermal and solar.
Investment in clean energy in sub-Saharan Africa jumped from US$2.
3 billion in 2017 to US$7.
4 billion
in 2018.
South Africa accounted for $4 billion in investment, driven by large onshore wind projects in
2018.
Driven by policy incentives, clean, renewable energy is being adopted across Sub-Saharan Africa and is receiving international support to overcome local funding shortfalls
.
Although clean energy policies are somewhat limited to tax incentives, BNEF analysts believe that "in the long run, insufficient hydropower supply and reluctance to increase coal financing will drive investment
in renewable energy.
" "It is expected that this will help to reduce the infrastructure costs required to implement new projects to some extent, thereby reducing the use of
natural gas and coal.
"
