Public Management

COP28: African countries sign on to join pioneering global battery energy storage consortium

COP28: African countries sign on to join pioneering global battery energy storage consortium
Monday, 04 December 2023 04:39

Several African countries have formally expressed interest to join the groundbreaking Battery Energy Storage Systems (BESS) Consortium, launched Saturday during COP28, which could revolutionise Africa’s energy landscape by developing advanced energy storage solutions through collaboration and innovation.

Joining the BESS Consortium, a multistakeholder partnership initiative of the Global Leadership Council, commits members to participate in efforts to reach energy storage commitments of 5 GW through the end of 2024. This will in turn provide a roadmap to ultimately achieving 400 GW of renewable energy by 2030.

Burkina Faso, Egypt, Ghana, Kenya, Malawi, Mauritania, Mozambique, Nigeria, and Togo. have formally expressed interest to join the Consortium. These countries are expected to receive support from BESS Consortium resource partners that include the African Development Bank, the World Bank, the Asian Development Bank, the Inter-American Development Bank, the Agence Française de Développement (AFD), Africa50 and Masdar. 

Resource partners will help prepare projects, improve the regulatory environment and unlock private and public investment.

In response to the announcement, Malawi’s President Dr. Lazarus Chakwera said, “Malawi is committed to maintaining a renewable energy generation pathway for a sustainable future and it’s projects like the BESS Consortium that will make our low carbon pathway a reality. We need more projects like that.”

Mauritania’s Minister of Petroleum, Mines and Energy, Nany Ould Chrougha expressed satisfaction over his country’s membership in the consortium. He believes that the need for battery storage is paramount for the country, which already records 40% reliance on renewable energy, and is set to become increasingly dependent, particularly, on solar and wind power.

African Development Bank President, Dr Akinwumi Adesina said, “The African Development Bank is proud to be at the forefront of this transformative journey, leveraging strategic partnerships and financial commitments to drive progress. As we move forward, let us remain steadfast in our dedication to a cleaner, greener, and more prosperous Africa one powered by the limitless potential of renewable energy and the resilience of the African spirit. Together, we can light up and power Africa for generations to come.”  

Adesina also highlighted the synergies between the BESS consortium and the Bank’s flagship Desert to Power initiative.

Dr Rajiv J. Shah, President of the Rockefeller Foundation and Co-chair of the Global Leadership Council said, “Without sufficient storage capacity, countries will be unable to add renewable energy to their grids at the scale needed to reduce emissions and create economic opportunity. The BESS Consortium is an example of the sort of big, bold action required to break down the barriers keeping so many people and communities from joining the climate transformations underway.” 

Barbados, Belize and India have also joined the BESS Consortium.

The Prime Minister of Barbados, Mia Mottley said, “Barbados is committed to playing a leading role in urging concrete deliverables on climate and climate financing. We are here with the BESS Consortium today because we support their efforts to improve access to battery energy storage systems as part of the energy transition in countries like ours.” 

The Global Leadership Council is a high-level coalition of global leaders brought together by the Global Energy Alliance for People and Planet.  It includes leaders of multilateral development banks, development finance institutions, international agencies, NGOs, corporate executives, and government representatives.

 logo BAD

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
• Bassirou Diomaye Faye denounces credit rating agencies’ methodologies as ill-suited to African contexts.• Senegal urges reforms to enable fairer...
(AfDB)-The Board of Directors of the African Development Bank Group has approved a $474.6 million loan for South Africa's Infrastructure Governance...
New card enables African payments without using US or European networks Aims to lower costs, protect financial data, and boost intra-African...
• Burkina Faso-based financial group, Vista Group Holding, has acquired a majority stake in Société Générale Burkina Faso (SGBF).•The move is part of...
Most Read
01

• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...

Israel-Iran conflict raises new threats for global shipping and oil trade
02

Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...

Telecoms: Lebara Enters Nigerian Market with Strong Competitive Ambitions
03

• Google unveils Veo 3, its latest AI tool for ultra-realistic video generation• Experts warn deepfa...

Deepfake Threat Becomes Alarming in Africa as AI Advances Faster Than Laws
04

In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...

In Five Years, Francophone Africa Will be A Major Force in African Tech –Régis Bamba
05

• Gates Foundation commits $1.6 billion over five years to Gavi.• Bill Gates warns of rising ch...

Gates Foundation Pledges $1.6 Billion to Gavi to Boost Global Child Vaccination
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.