The African Energy Chamber (AEC), headquartered in South Africa, has declared its endorsement and support for the Invest in African Energy (IAE) forum, organized by Energy Capital & Power. Set to take place in Paris on May 14th to 15th, the forum aims to facilitate collaboration between European and international investors and African energy stakeholders. The event, focused on investment and partnership, brings together key players like TotalEnergies and Perenco, contributing to transformative projects in Africa's energy sector. TotalEnergies, a major French project developer in Africa, has been pivotal in projects such as Mozambique LNG and Uganda's Lake Albert Development. Meanwhile, Perenco, a leading independent hydrocarbons producer, demonstrates operational excellence in the Central African Economic and Monetary Community region, including the construction of the $1 billion Cap de Lopez LNG facility in Gabon.
IAE 2024 serves as a crucial platform for driving Africa's energy transition, with companies like Engie, EDF Renewables, Voltalia, and others investing heavily in renewable energy projects. The AEC's endorsement emphasizes the need for strategic partnerships and capital inflows to unlock Africa's energy potential. To achieve the Sustainable Development Goals outlined by the Paris Agreement by 2030, Africa requires an additional $194 billion in annual finance. With over 125 billion barrels of proven oil reserves and abundant renewable energy resources, the continent presents lucrative opportunities for foreign investors. The AEC's commitment aligns with the forum's goal of fostering sustainable energy development, highlighting the significance of collaborations to propel Africa towards a future marked by energy security and economic growth.