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
Cameroon seeks first local-currency credit rating from Bloomfield Aims to boost regional investor confidence, diversify funding sources Move supports...
Diaspora sent $990M to CEMAC via mobile money in 2023 Europe led transfers; Cameroon dominated digital transaction volume Mobile money reshapes...
Chari raises record $12M Series A to expand fintech services Secures central bank license to launch super-app for merchants Moroccan...
Burkina Faso orders NGOs to use state-run bank for all funds Move follows arrests, aims to tighten oversight of foreign NGOs Burkina Faso issued...

Most Read
01

• The five-year plan allocates 388 billion pulas to boost growth and jobs.• Focus areas include tran...

Botswana unveils $27bn plan to accelerate economic diversification
02

• Parliament approves Virtual Asset Service Providers Bill 2025 to regulate digital assets• Central ...

Kenya passes landmark law to regulate booming cryptocurrency market
03

Indorama to invest $210M in Senegal phosphate sector upgrade ICS to expand fertilizer, acid ...

Indorama, Petrochemicals Major, to Invest $210 Million in Senegal Fertilizer Plant
04

Copper prices hit $10,775/t, their highest since May 2024, driven by a weak dollar and recent...

Copper Prices Extend Gains Close to Record Highs, Improving Prospects for Zambia and the DRC
05

• The Bank urges Nigeria to raise excise taxes on alcohol, tobacco, and sugary drinks.• Current rate...

World Bank backs higher public health taxes in Nigeria
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

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


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.