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Africa - Renewable Energy Rising Rapidly

"Global investment in renewable energy jumped 32% in 2010, to a record $211 billion. It was boosted in particular by wind farm development in China and small-scale solar PV installation on rooftops in Europe. ... Significant investment is also starting to be seen in Africa, which posted the highest percentage increase of all developing regions, if the emerging economies of Brazil, China and India are excluded. ... Total investment on the continent rose from $750 million [in 2009] to $3.6 billion [in 2010]." -- Global Trends in Renewable Energy Investment 2011

As noted in another AfricaFocus Bulletin released today and available on the web at http://www.africafocus.org/docs11/clim1107.php), progress at global climate talks is painfully slow and inconsistent, with serious setbacks likely unless there is new momentum by the end of the year. But, as indicated by this new report on renewable energy, there is significant progress on some fronts away from the global negotiations. The new UNEP report on global trends in renewable energy investment, excerpted below, comments:

"There was a sense, in both the second half of 2010 and early 2011, that progress in renewable energy was taking place at a pace that public opinion and policymakers in many countries were simply failing to spot. This progress was both in investment levels and, even more, in costcompetitiveness with conventional power sources."

Another sign of increased momentum on the renewable energy front was the launch of the International Renewable Energy Agency (IRENA), with headquarters in Abu Dhabi. An initial consultation earlier this month resulted in the "Abu Dhabi Communiquà on Renewable Energy for Accelerating Africa's Development," also included in this AfricaFocus Bulletin. While the language of the declaration echoes all too familiar conference boilerplate commitments, it indicates a growing consensus that renewable energy must take higher priority in Africa's development plans. As prices drop, and renewable energy becomes more competitive, private investors as well as policy makers are taking the sector more seriously.

Source: allafrica.com - 14 July 2011

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