GEAPP GLC moves forward to accelerate access to clean, affordable energy for all

by MMC
0 comment

Last week, the Global Leadership Council (GLC) of the Global Energy Alliance for People and Planet (GEAPP) met on the sidelines of UNGA 78 to review progress against its two flagship initiatives: first, mobilize 5 GW of accelerated commitments in favor of battery energy. Storage Systems (BESS); and second, enable large-scale consolidation in the distributed renewable energy (DRE) sector, with a short-term goal of securing a $500 million group procurement order by the end of 2024.

These are crucial steps to unlock an estimated 90 GW market for BESS in Africa, Asia, Latin America and the Caribbean and to lower the average DRE electricity price by more than $0.5 /kWh in most contexts today, less than $0.25/kWh. within five years.

Together, these initiatives have the potential to transform the pace at which energy poverty can be reduced. Currently, the world’s electricity systems are not serving the people who most desperately need energy; Today, 3.6 billion people still live in energy poverty, of whom 760 million have no electricity and 2.8 billion have expensive and unreliable access.

“The GLC is working together to overcome barriers to renewable energy adoption in low- and middle-income countries, said – “We need a more ambitious and inclusive renewable energy agenda at scale. “To achieve this, it is essential to find partners, obtain funding from new sources and encourage creativity.”

The Battery Energy Storage Systems (BESS) Consortium is a multi-stakeholder partnership established to galvanize a transformation of energy systems in Africa, Asia, Latin America and the Caribbean through expanded deployment of battery energy storage.

The Distributed Renewable Energy (DRE) Scaling Initiative aims to enable collective action to unlock market potential in developing countries, providing affordable and reliable energy to nearly half a billion people. people who are not served by traditional electricity networks.

“As GEAPP approaches its second anniversary, the GLC plays a vital role in ensuring the scale, urgency and connectivity of our initiatives,” said Simon Harford, CEO of GEAPP. “Whether it is GEAPP facilitating the first wave of BESS in India or our investment in private sector development of metropolitan solar grids in eastern DRC, the GLC champions our efforts and amplifies our reach as the climate emergency continues to take hold.

“Renewable energy is out of reach for too many people. Expanding access to stable, affordable clean energy is a crucial part of our climate solution,” said Ajay Banga, President of the World Bank. “The World Bank supports the efforts of the GEAPP Global Leadership Council to address these challenges, and we must continue to act with even greater urgency and scale. »

“Addressing the existential threat of climate change requires urgent and bold leadership. That’s why I am energized by the GLC’s mission and its ability to connect leaders around the world,” said Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organization. “This work helps facilitate the just energy transition the world needs, and I encourage the GLC to continue on its path with even greater urgency, scale and action.” »

“Five months ago, the GLC made one of the world’s largest collective commitments to significantly reduce the cost of renewable energy technologies. We will mobilize 100 GWh of accelerated BESS by 2030, and today we are several steps away from identifying the “first mover” countries that will lead this work. This is the kind of collaboration we need to see more of,” said GLC Co-Chair Dr. Rajiv J. Shah, President of the Rockefeller Foundation.

“600 million Africans do not have access to electricity. To close this gap, we need bolder approaches that are effective at scale and reach hundreds of millions of people, like the Desert to Power initiative,” said Dr. Akinwumi A. Adesina, President of the Desert to Power Group. the African Development Bank. “In Africa, the cost of capital for large-scale clean energy projects is at least two to three times higher than in advanced economies. Today we discussed how the GLC can help overcome the political, technical and financial barriers that lead to these asymmetries and accelerate universal energy access.

You may also like

Leave a Comment

The news website dedicated to showcasing Africa news is a valuable platform that offers a diverse and comprehensive look into the continent’s latest developments. Covering everything from politics and economics to culture and wildlife conservation

u00a92022 All Right Reserved. Designed and Developed by PenciDesign