Posted on 24 Nov 2023
The German government has committed to invest €4 billion ($4.35 billion) in developing green energy projects in Africa until 2030, Kallanish learns.
German Chancellor Olaf Scholz described Africa as “the partner of our choice” while speaking at a press conference earlier this week in Berlin, as part of the G20 Compact with Africa conference. He said the German government has pledged €4 billion towards the joint EU-Africa initiative for green energy, although the nature of the investment remains unclear.
“Today’s conference is the starting signal for stronger, reliable cooperation between Africa and Europe to realise climate-friendly energy supply based on green hydrogen,” Scholz said.
The conference, started in 2017 under the German G20 presidency, aims to improve investments in partnering African countries. So far, 13 African countries are part of the initiative, including Morocco, Egypt, Senegal, Guinea, Ivory Coast, Ghana, Togo, Rwanda, and the Democratic Republic of Congo.
The Chancellor called for more private investments and “closer cooperation” in the energy sector, especially hydrogen. He added that Africa’s “enormous economic potential” can only be realised through large-scale private investments.
“Produce green hydrogen and you can rely on us as buyers,” Scholz told African leaders, adding that Germany’s goal was not only to facilitate exports but also to ensure access to sustainable and affordable energy for all Africans.
Germany will rely on imports to meet 50-70% of its hydrogen demand in 2030. It recently released a draft plan for developing a €19.8 billion core hydrogen network across Germany, which will enable both the imports into the country and further domestic distribution to end-users.
Source:Kallanish
