Africa lights up Europe’s energy future 

Europe has historically relied on a few energy importers. This dependency has exposed vulnerabilities in the supply chain, especially during events like the COVID-19 pandemic and the war in Ukraine. The war has highlighted the urgent need for Europe to diversify its energy sources and become more independent and resilient.

Aligned with the Paris Agreement and the Green Deal, which aim for carbon neutrality by 2050, the EU is focusing on diversifying its energy resources and transitioning to green energy. The “RepowerEU” initiative aims to reduce reliance on single suppliers and speed up the deployment of renewable energy across Europe. The Hydrogen Bank also seeks to attract private investment in hydrogen projects by connecting renewable supply with EU demand.

Africa, once overlooked, is now a key trade partner for the EU. But how can Europe ensure a successful energy partnership with Africa?

Africa, a key partner in Europe’s green energy future

Africa’s vast natural resources make it a key player in the global green energy supply chain. The continent has significant reserves of materials required for renewable energy technologies. For example, the Democratic Republic of Congo holds around 50% of the world’s cobalt, a vital component in making batteries, wind turbines, and solar panels. As global demand for these materials rises, Africa is positioning itself as a leading supplier for the green energy sector.

Additionally, Africa’s renewable energy potential is substantial. By 2040, it is projected that 76% of Africa’s electricity will come from renewable sources, including hydropower (82%), solar (11%), and wind (7%). This makes Africa not only a supplier of essential minerals but also a leader in renewable energy production and distribution.

Booming initiatives to support the African green energy industry

European countries are recognising Africa’s potential for sustainable development. A prime example is Italy’s “Mattei Plan,” launched in November 2023. With €5.5 billion from Italy’s National Climate Fund, it aims to support sustainable growth and partnership projects with Africa.

At the EU level, the Global Gateway strategy strengthens ties with Africa through the Africa-Europe Green Energy Initiative. This program encourages collaboration between European and African public and private sectors to increase energy access, promote energy efficiency, and support regulatory reforms. It involves the EU, Member States, and financial institutions like the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD).

Projects like “The Lobito Corridor” further position Africa as a key partner. This infrastructure project, connecting Angola’s Lobito port to Zambia, aims to improve trade, reduce transportation costs, and support economic development in Southern Africa.

A strong Africa-EU cooperation to overcome economic challenges

As Europe seeks to diversify its energy supply, it aims to strengthen ties with Africa. This effort faces challenges. Geopolitical tensions and an underdeveloped regulatory framework complicate progress.

Europe can play a supportive role for Africa. It can provide technical assistance, financial support, and policy guidance. These measures could help create a more attractive environment for investment.

By sharing expertise in regulation and funding infrastructure, Europe can make a difference. Encouraging private investment is also key. This can help Africa develop a strong green energy industry. Trade agreements can improve market access. Research partnerships can foster innovation. Strengthening governance and transparency will further boost Africa’s economic growth.

Green energy projects in Africa should address local needs, not just exports to Europe. Reliable energy, job creation, and improved infrastructure are essential. These efforts can drive social and economic development. A sustainable partnership will benefit both continents.

Conclusion

By fostering balanced partnerships, Europe and Africa can achieve shared prosperity. These partnerships should be rooted in mutual economic interests.

The focus must go beyond immediate energy needs. Long-term stability and growth are essential for both continents. A collaborative approach can ensure this. It represents a win-win scenario. This approach also transcends traditional power dynamics.

Equitable relations are key to success. Together, Africa and Europe can secure a stable future. Strategic partnerships can tackle global challenges effectively.