In a groundbreaking collaboration, Kenya's President William Ruto led a gathering of African leaders at COP28 to unveil the Green Industrialization Initiative, capitalizing on the UAE's Clean Energy Pipeline. This initiative, a testament to the success of the existing USD 4.5 billion Africa Green Investment Initiative, is set to propel Africa's sustainable growth.
At its core, the initiative aims to finance 15 GW of renewable energy capacity in Africa by the end of the decade. COP28 showcased the first successful projects under the UAE-led initiative, directing nearly USD 2.6 billion for power projects across eight countries, slated to contribute 1.8 GW of clean capacity to the African grid.
President Ruto underscored the Initiative as a tangible step toward realizing the Nairobi Declaration, emphasizing private sector-led scaling-up of green industrial clusters. African leaders, representing Angola, Burundi, Djibouti, Ghana, Cote d’Ivoire, Mauritania, Nigeria, Senegal, and Zambia, united behind the Africa Green Industrialization Initiative as the catalyst for their nations' development.
Discussions focused on plans to achieve socioeconomic transformation through the rapid growth of green industrial clusters, recognizing the pivotal role of regional and global export markets for value-added green products and technologies in the global clean energy value chain.
Macky Sall, President of Senegal, expressed, "We are forging a green pathway for Africa. Through strategic collaborations with industrial and energy developers across the continent, we have set in motion a virtuous cycle, fostering economic growth and sustainable job creation."
COP28 President, Dr. Sultan Al Jaber, commended the initiative as an opportunity to elevate the ambition of the COP28 Presidency’s Clean Energy program launched at the Africa Climate Summit. He stressed that the challenge faced by the African continent lies not in the scarcity of resources but in the scarcity of "action."
Significant progress of the USD 4.5 billion Africa Green Investment initiative was highlighted during the event, spearheaded by UAE entities including Masdar, AMEA Power, Abu Dhabi Fund for Development, and Etihad Credit Insurance, with Africa50 as the strategic partner.
Noteworthy announcements included Masdar’s plans for a 150MW solar power plant in southern Angola, AMEA Power's 300MW onshore wind power project in Ethiopia, and Africa50's projects in Mozambique totaling 260MW of clean power.
COP28 President and President Ruto issued a compelling call to action, urging more countries and partners to join the initiatives, laying the foundation for sustainable growth at the heart of Africa’s economic future.
The USD 4.5 billion UAE-led ‘Africa Green Investment Initiative’ was announced by COP28 President, H.E. Dr Sultan Al Jaber, during a keynote address at the African Climate Summit in Nairobi. The initiative aims to unlock Africa's clean energy potential by delivering transformational projects and effecting systemic change in collaboration with committed Governments.
The ‘Africa Green Industrialization Initiative’ launched by President Ruto and COP28 aims to hyperscale green businesses and industries in Africa and promote climate change mitigation and adaptation, driving significant economic growth and job creation in the region.
The collaborative efforts of UAE’s ‘Africa Green Investment’ and Kenya’s ‘Africa Green Industrialization’ initiatives are poised to play a pivotal role in Africa’s green industrialization efforts, serving as a global inspiration for environmentally responsible endeavors.
William Ruto. PHOTO/COURTESY
