A new analysis from multinational conglomerate, General Electric (GE) has urged governments, stakeholders and power industry players in Sub-Saharan Africa to keep pace with changing trends in the global energy sector.
As the 19th edition of a high profile affair dubbed the ‘Africa Utility Week and PowerGEN Conference’ kicks off, GE unveiled a whitepaper re-imagining the future of power in Sub-Saharan Africa.
The ‘Future of Power Whitepaper’, which will take center stage at the Conference, highlights future game-changers in the energy landscape in Sub-Saharan Africa. It discusses the factors contributing to energy transformation and the enabling environment; Outlines the market’s response through region-specific case studies and the path forward.
“Global and regional energy industry trends are continuously shifting and stakeholders need to stay constantly informed to better understand the key drivers of change,” GE said in a recent statement.
“This paper, developed by the Strategic Marketing unit of GE in Sub-Saharan Africa focuses on the changing trends and future direction of the energy industry as it explores the relevance and impact of key drivers both regionally and globally,” the company – a world energy leader providing equipment, solutions and services across the energy value chain, explained.
Key themes discussed in the paper include decarbonization, decentralization and digitization as well as how they affect the current and future energy transformations in the region. The paper also sheds light on the rise of renewables including solar, wind and hydro and the place of geothermal in Sub Saharan Africa’s energy mix. The whitepaper also discusses energy sector management, financing and regulatory frameworks that create an enabling environment for the sector.
According to GE, Sub-Saharan Africa needs power and there is seemingly an over-dependence on governments to resolve this energy dilemma.
The company noted that governments are faced with investment, policy and regulatory framework challenges that oftentimes hinder their ability to fulfill the responsibility of providing affordable and reliable power.
With increasingly diverse funding from public and private sources, including innovative partnerships with private investors and independent power producers (IPPs), the current narrative that two out of three people in the region needs access to electricity is expected to change,” GE elaborated.
“To solve Africa’s energy deficit and improve energy access, there is a clear need for solutions that foster collaboration through partnerships with governments, technology providers and the private sector” said Elisee Sezan, CEO for GE’s Gas Power business in Sub-Saharan Africa.
“GE has been at the forefront of driving this collaboration which has resulted in significant milestone projects and solid partnerships that have successfully added more megawatts to the grid. We are delighted to lead this changing narrative on powering Africa forward and are committed to supporting energy initiatives to accelerate its progress” he added.