{"id":187753,"date":"2024-06-07T04:10:09","date_gmt":"2024-06-07T04:10:09","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/06\/07\/president-ruto-urges-global-north-investors-to-invest-in-africas-renewable-energy\/"},"modified":"2024-06-07T04:10:09","modified_gmt":"2024-06-07T04:10:09","slug":"president-ruto-urges-global-north-investors-to-invest-in-africas-renewable-energy","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/06\/07\/president-ruto-urges-global-north-investors-to-invest-in-africas-renewable-energy\/","title":{"rendered":"President Ruto Urges Global North Investors to Invest in Africa&#8217;s Renewable Energy"},"content":{"rendered":"<p><\/p>\n<div>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-315126\" alt=\"\" width=\"897\" height=\"550\"  data-lazy- src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2024\/06\/rutoo.jpg\"\/><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-315126\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2024\/06\/rutoo.jpg\" alt=\"\" width=\"897\" height=\"550\"  \/>President William Ruto has raised concerns over the underfunding of Africa\u2019s renewable energy development.<\/p>\n<p>He noted that while 2023 saw the largest increase in renewable energy capacity globally, with about 500 gigawatts added and $600 billion in new investments, Africa lagged behind.<\/p>\n<p>The President highlighted that Africa has the highest untapped potential for renewable energy reserves in the world but managed to add only 3 gigawatts of the global increase.<\/p>\n<p><em>\u201cAfrica, with the greatest potential and highest demand, currently accounts for a mere 1.6% of the world\u2019s total renewable energy capacity,\u201d<\/em> he stated.<\/p>\n<p>He emphasized that Africa presents significant opportunities for wealthy investors from the Global North in clean energy, offering a mutually beneficial outcome.<\/p>\n<p><em>\u201cAfrican leaders endorsed the Nairobi Declaration, setting the continent\u2019s green power generation target at a five-fold increase from 56GW in 2022 to at least 300GW by 2030,\u201d<\/em> he said.<\/p>\n<p>President Ruto made these remarks on Wednesday while addressing the High-Level Business Segment on Climate Change Response and Transition to Carbon-Free Energy in Seoul, South Korea.<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-315125\" alt=\"\" width=\"928\" height=\"450\"  data-lazy- src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2024\/06\/kenya-south-korea1.jpg\"\/><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-315125\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2024\/06\/kenya-south-korea1.jpg\" alt=\"\" width=\"928\" height=\"450\"  \/><\/p>\n<p>He cited recent floods in Kenya and other parts of the world as evidence of climate change and called for collaborative efforts to mitigate its effects.<\/p>\n<p>Ruto also highlighted Kenya\u2019s significant progress in renewable and clean energy, noting that the country\u2019s power grid is 93% green.<\/p>\n<p>The President urged Korea and Korean investors to continue supporting Kenya in clean energy adoption, as the country aims to expand its current grid from 3GW to 100GW by 2040.<\/p>\n<p><em>\u201cThe ambition is realistic because Kenya is endowed with abundant potential in every type of renewable energy,\u201d<\/em> he said.<\/p>\n<p>The President mentioned that Africa launched the Africa Green Industrialisation Initiative at COP28 to promote the growth of clean energy manufacturing.<\/p>\n<p>He asserted that this potential positions the continent to seize economic opportunities within the global energy transition.<\/p>\n<p><em>\u201cThis can be achieved by mobilizing $1 trillion from public and private finance by 2030,\u201d<\/em> he concluded.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>President William Ruto has raised concerns over the underfunding of Africa\u2019s renewable energy development. He noted that while 2023 saw the largest increase in renewable energy capacity globally, with about 500 gigawatts added and $600 billion in new investments, Africa lagged behind. The President highlighted that Africa has the highest untapped potential for renewable energy [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":187754,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-187753","post","type-post","status-publish","format-standard","has-post-thumbnail","category-kenya-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>President Ruto Urges Global North Investors to Invest in Africa&#039;s Renewable Energy - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/06\/07\/president-ruto-urges-global-north-investors-to-invest-in-africas-renewable-energy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"President Ruto Urges Global North Investors to Invest in Africa&#039;s Renewable Energy - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"President William Ruto has raised concerns over the underfunding of Africa\u2019s renewable energy development. He noted that while 2023 saw the largest increase in renewable energy capacity globally, with about 500 gigawatts added and $600 billion in new investments, Africa lagged behind. 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