"Irina" And Sierra Leone launches "The Second Investment Forum of the Partnership for Accelerating Renewable Energy Deployment in Africa"
Freetown (Sierra Leone), October 22, 2017 – The International Renewable Energy Agency (IRENA) and the Government of Sierra Leone launched today the second investment forum of the Partnership for Accelerating Renewable Energy in Africa (APRA), which aims to increase investments to promote the energy transition and green industrialization in all member states of this partnership.
The forum, which continues until tomorrow, Thursday, at the Freetown International Conference Centre, brings together ministers and high-level representatives from member states of the Partnership for Accelerating the Deployment of Renewable Energy in Africa, as well as investors, developers and financial institutions from Africa and beyond, to hold high-level dialogues and technical sessions.
The Forum offers networking opportunities and includes a project exhibition that provides regional developers with a platform to showcase their projects and meet global investors and financiers.
His Excellency Dr. Kandeh Yumkella, Head of the Energy Sector, Chair of the Presidential Initiative on Climate Change, Renewable Energy and Food Security, and Chair of the Energy Governance Coordination Group, Sierra Leone, stressed that the Partnership for Accelerating the Deployment of Renewable Energy in Africa (APRA) is a crucial initiative for African countries in their efforts to accelerate the use of renewable energy to achieve the seventh goal of the Sustainable Development Goals.
He added that Sierra Leone is proud to host the 2025 Summit of the Partnership for Accelerating the Deployment of Renewable Energy in Africa, especially after the signing of the (Mission 300) agreement worth $2.2 billion, which aims to increase the share of renewable energy in the country from 46% to 52%.
For his part, Francesco La Camera, Director-General of the International Renewable Energy Agency, said that renewable energy has become the least expensive source of energy generation, yet the gap remains wide between Africa’s enormous potential in the field of renewable energy and its actual application, stressing the importance of moving quickly and cooperatively to remove persistent financial barriers and ensure the availability of capital at an affordable cost for implementable projects.
He stressed IRENA’s endeavor, through the APRA Investment Forum, to employ its full range of project facilitation and partnership tools to reduce investment risks, provide innovative financing methods, and direct capital to regions and areas of greatest need.
It is worth noting that this forum builds on the successes achieved in the inaugural forum held last year in Nairobi, which succeeded in mobilizing a group of projects worth US$2.7 billion and approximately 1 gigawatt of renewable energy potential.
The post-Forum facilities are scheduled to focus on moving forward with the implementation of the identified projects, enhancing investment readiness, and supporting the implementation efforts of those projects in all member states of the Partnership for Accelerating Renewable Energy in Africa (APRA).
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