Tsitsi Musasike Presents Key SADC Renewable Energy Report in Seychelles and Beijing
Tsitsi Musasike, Professor of the Practice of Global Development Policy at Frederick S. Pardee School of Global Studies and researcher at the Global Development Policy Center, recently presented a significant report on expanding renewable energy and energy access in the Southern African Development Community (SADC) region. Musasike led the study, a collaboration between the Boston University Global Development Policy Center, the SADC Development Finance Resource Centre, and the SADC Centre for Renewable Energy and Energy Efficiency (SACREEE).
From June 27-28, 2024, Musasike traveled to Seychelles to attend the SADC Development Finance Institutions (DFI) Network meetings and present the report’s findings. The event brought together CEOs of SADC development finance institutions and other key stakeholders in the region’s development sector.
The meetings, themed “Development Finance Institutions as Enablers of Industrialisation for Regional Integration,” featured addresses from prominent figures including M. Devika Vidot, Seychelles Minister for Investment, Entrepreneurship and Industry, and Mr. Rian Coetzee, SADC DFRC Board Chair and Acting Divisional Executive at the Industrial Development Corporation (RSA).
Musasike participated in discussions that included representatives from the African Development Bank, World Bank, African Export Import Bank, and Norsad Capital. These discussions covered topics such as multilateral, regional and national development finance institutions’ experiences with industrialization in the SADC region, challenges in project preparation, and the role of DFIs in financing industrialization.
On June 28th, Musasike jointly presented the SADC Prefeasibility Facilities Report with SACREEE. The presentation addressed key questions on funding sources, potential hosts for new prefeasibility facilities, and funding required to unlock the challenges faced by project developers in the early stages of projectdevelopment. The report, titled “Evaluating Regional Prefeasibility Facilities: Expanding Renewable Energy and Energy Access in the SADC Region,” emphasizes the inadequacy of existing regional and global prefeasibility facilities for scaling up renewable energy projects in the SADC area.
Key findings from the report include:
- Only seven out of 41 SADC development finance institutions have an infrastructure mandate and provide early-stage project preparation facilities.
- The region lacks dedicated renewable energy project preparation facilities.
- Local developers face challenges in accessing funding and need support in early stages of project development.
The report examines the challenges faced by developers implementing renewable energy projects in the region, analyzes existing prefeasibility or early-stage project preparation funds in the region and globally to assess their adequacy, effectiveness and efficiency in supporting local project developers, and offers recommendations to improve and scale up these facilities.
The study was a collaborative effort, with contributions from Kevin P. Gallagher, Naa Adjekai Adjei, Jiaqi Lu from the GDP Center and Kudakwashe Ndhlukula, Eugenia Masvikeni from SACREEE, and Maipelo Stroh from the SADC DFRC.
Following the Seychelles presentation, Gallagher and Musasike traveled to Beijing to present the report’s findings, further extending the reach and impact of this research on renewable energy development in Southern Africa.
The report and presentations are timely, with upcoming events like the Forum on China-Africa Cooperation (FOCAC) in September 2024 and South Africa hosting the G20 Summit in 2025. These events offer opportunities for SADC countries to explore new partnerships and funding sources for developing renewable energy projects, using the insights and recommendations from this study.
Next steps include promoting the fund among relevant stakeholders and continuing engagements with potential fund managers. The research team is also exploring a regional research project on industrialization through transition minerals, as there is currently no regional strategy in this area.
Tsitsi Musasike specializes in development finance and infrastructure projects, focusing on renewable energy in Africa. With 20+ years of experience, she’s involved in South-South cooperation, addressing climate change, and empowering women and youth. She mentors on project financing and financial inclusion. Read more about Professor Musahike on her Pardee School faculty profile.