Southern African countries possess vast renewable energy potential. Renewables account for a rapidly growing share of power capacity, up from 23% in 2015 to almost 39% in 2018, in the Southern African Development Community (SADC), with immense opportunities expected as commissioning and operating costs for renewable power technologies continue to fall.
Countries in the region seek to extend electricity access, improved from 24% (5% in rural areas) in 2010 to 48% (32 % in rural areas) in 2017, improve their energy security and, ensure environmental sustainability. Most SADC countries have set renewable energy targets in the NDCs to and meet climate goals. Meanwhile, financing renewable energy projects remains a significant challenge. The SADC’s Regional Energy Access Strategy and Action Plan aim to utilise energy resources strategically to ensure affordable, sustainable, secure energy supply. Climate finance initiatives are a crucial channel for support to develop renewables in the region.
The Southern African Investment Forum aims to scale up renewable energy investments in the region, support project development and implementation, and contribute to the creation of policy and regulatory frameworks conducive to renewable energy investments.
The regional forum is part of IRENA’s contribution to the Climate Investment Platform (CIP), which aims to advance sustainable energy projects to investment maturity and facilitate their access to finance.
Key forum activities include matchmaking between projects, project developers, and potential financiers and investors. Renewable energy projects, along with renewable-based electricity grid and energy efficiency projects, may be considered for support.
Submit a Request to obtain support for project development and/or access to finance for a renewable energy project in Southern Africa.