Addis Ababa, 11 August 2015 (WIC) – Energy ministers and top investors engaged in energy and power investment are going to convene in Addis Ababa, Ethiopia in October.
The meeting focuses on how Africa can grow and create development opportunities while also considering evolving climate policies and new resilience challenges.
The meeting organized by the World Energy Council Executive Assembly, will be from 26-29 October, 2015.
The Assembly will also discuss about the challenge of how to get investors and politicians to work together to find ways of surmounting the obstacles that are preventing the flow of capital to Africa and develop its large resources in areas such as hydropower, solar, oil and natural gas.
Christoph Frei, Secretary General of World Energy Council was quoted in a statement saying, “With a resilient energy infrastructure, cross border co-operation and investment there are energy resources which could be exploited to the benefit of African prosperity.”
“There is enormous energy resources in sub-Saharan Africa, 30 percent of the world’s energy commodities can be found here. But regional integration, market creation and development of long value chains will be essential to maximize their potential for the region where regional co-operation is a key factor,” Frei continued.
“In our World Energy Council Scenarios Report, we estimate that an investment of between USD 1.2 trillion and USD 1.4 trillion is needed to meet the energy demands of the region by 2050,” the Secretary noted.(The Reporter)