Masdar and PwC Middle East launch report on Accelerating Renewable Energy Investment in West Africa at Abu Dhabi Finance Week

Masdar and PwC Middle East launch report on Accelerating Renewable Energy Investment in West Africa at Abu Dhabi Finance Week

Currently the region has one of the lowest electrification rates, according to a 2023 World Bank report, with 220 million people living without access to power.

The renewable energy transition in West Africa can play a vital role in ensuring adequate and affordable access to clean electricity.

Abu Dhabi: Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, and PwC Middle East have partnered to highlight the renewable energy potential of West Africa and the necessary reforms to increase private sector investment, with the new report “Accelerating Renewable Energy Investment in West Africa”.

Launched ahead of COP28 at Abu Dhabi Finance Week, the report reaffirms the importance of advancing the renewable energy transition in West Africa to ensure adequate and affordable access to clean electricity and encourages policymakers to realize the investment required for the energy transition in the region.

Key findings from the report:

West Africa has an unexploited renewable capacity potential of 2,000GW.

West Africa’s energy sector demands renewal and decarbonization.

Pro-investment policy coupled with renewable energy technologies could transform the sector and meet urgent social and economic needs.

Sovereign wealth funds could play a big part in driving investment