Renewable Energy Investment in Africa and Nationally Determined Contributions (NDCs)
By Miquel Muñoz Cabre and Mohamed Youba Sokona
The working paper by Miquel Muñoz Cabre identifies up to USD 241 billion and 101 GW of likely renewable energy investments in Africa based on an analysis of Nationally Determined Contributions (NDCs) and renewables plans. These include plans for 34 GW of solar PV, 26.4 GW of hydro, 25.7 GW of wind power and 7.4 GW of geothermal energy. The paper identifies 50 multilateral finance institutions and mechanisms active in financing renewable energy investments in Africa, and discusses the inclusion of energy access measures in NDCs. Moving forward, the paper considers the future role of NDCs regarding renewable energy.