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Can a sovereign wealth fund transform the energy sector in West Africa?

Tel: +971 56 603 Director, Infrastructure Finance, PwC Middle East West Africa’s energy sector demands renewal and decarbonisation. Pro-investment policy coupled with renewable energy technologies could transform the sector and meet urgent social and economic needs – and sovereign wealth funds could play a big part in the process

Why should West Africa Invest in renewable power?

The provision of easy access to affordable power is a vital enabler of economic growth. For West Africa, that will mean the rapid deployment of lower-cost, lower-carbon renewable power and the engagement of investors who are capable of financing and executing such projects.

Are SWFs a good investment option for West Africa?

For West Africa, that will mean the rapid deployment of lower-cost, lower-carbon renewable power and the engagement of investors who are capable of financing and executing such projects. We believe that SWFs are well-placed to help drive forward such investments.

What are energy storage policies?

These policies are mostly concentrated around battery storage system, which is considered to be the fastest growing energy storage technology due to its efficiency, flexibility and rapidly decreasing cost. ESS policies are primarily found in regions with highly developed economies, that have advanced knowledge and expertise in the sector.

Are energy tariffs and levies exempt in front of ESS facilities?

Under the German Renewable Energy Sources Act (EEG), grid tariffs and levies are exempted for in front of the metre ESS facilities. This is as long as the stored energy is fed back into the grid. The EEG was updated in and the exemptions was expanded under §61k for loss of energy and self-supply of storage .

Does West Africa have a potential for economic growth?

To achieve this we recommend: West Africa has extraordinary potential for economic growth and social development. It is rich in natural resources and has favourable demographics (70% of the sub-Saharan population is under the age of 30). Yet this potential for growth can only be realised through improved economic infrastructure.

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The State of African Energy Outlook Report offers a rigorous analysis of the trends, challenges and opportunities shaping the continent’s energy landscape.

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We explore how energy storage is key for intergrating renewables into the grid - even as regulatory regimes struggle to catch up. The following article was first published in the May