AFRICAN ENERGY STORIES annual increase in its popula on through 2050, the con nent ’s demand for energy will rise by 82% by 2050. <strong>The</strong> study states that gas will account for 30% of Africa’s energy mix b y 2 0 5 0 a n d t o g e t h e r w i t h renewables will be crucial in driving energy access across the con nent. <strong>The</strong> GECF further predicts Africa’s natural gas produc on to increase from 260 billion cubic meters (bcm) in 2021 to 585 bcm by 2050, owing to energy security, affordability and reliability on the back of maximal exploita on of local energy resources becoming the top concerns for African policymakers. However, with limited investments across the industry disrup ng growth over the past few years, the GECF report highlights that Africa will need t o s e e u p t o $ 1 . 7 t r i l l i o n i n investments being made towards upstream ac vi es for the con nent to achieve a produc on rate of 585 bcm by 2030. <strong>The</strong> report adds that with an increasing number of African c o u n t r i e s d e v e l o p i n g e n e rg y strategies which are based on natural gas and renewables to address energy poverty and economic expansion, the share of Africa’s gas sector on the global market will expand to over 11% of all gas supplies by 2050, with the majority of the supply set to be directed towards power genera on. ”While global gas trade is expected to rise by 36% through 2050, driven by increases in LNG trading, Africa is set to record a significant increase in pipelines, liquefied natural gas and regasifica on spending through 2050,” said HE Eng. Mohamed Hamel, Secretary General of the GECF. A d d i o n a l l y, w h i l e e n e r g y mone za on is a top priority for Africa to expand gross domes c product (GDP), the trading of gas will be crucial in helping the con nent to ensure the availability of energy investments and capital to drive social development projects. <strong>The</strong> GECF an cipates Africa’s GDP to rise from $2.5 trillion in 2021 to $7.1 trillion by 2050. WeLight Raises 19 Million from EU Financial Institutions to Electrify 120 Villages in Madagascar E uropean Investment Bank (EIB), Triodos Investment Management and EDFI ElectriFI has allocated their new collec ve investment of €19 million to support WeLight Madagascar’s €28 million project in Madagascar. <strong>The</strong> investment will enable WeLight to build and develop solar mini-grids to supply electricity to over 120 villages in Madagascar which currently have no access to the electricity grid. <strong>The</strong> funding will be combined with €9 million in loans which WeLight will source from its shareholders – AXIAN Group, Sagemcom and Norfund. <strong>The</strong> new mini-grids will provide residents in off-grid rural villages access to clean and affordable energy. Alongside homes and businesses, the project will benefit schools, h e a l t h c e n t r e s a n d p u b l i c s p a c e s , strengthening the local economy and improving health, security and educa on. Made up of a solar power plant and energy storage system, a distribu on line and a meter for each customer, a mini-grid can supply electricity 24 hours a day, seven days a week. <strong>The</strong> 120 addi onal villages cover 17 regions and were selected thanks to outstanding work with Madagascar’s Ministry of <strong>Energy</strong> and the Agency for the Development of Rural Electrifica on (ADER). At present around a quarter of the popula on in Madagascar has access to electricity. Offgrid solar technology has proven to be a fast and effec ve solu on to accelerate economic growth and sustainable development in regions where connec on to the grid is s ll challenging. Romain de Villeneuve, Chief Execu ve Officer of WeLight Madagascar, stated that the project will “posi vely impact hundreds of thousands of people, greatly enhancing living standards, the local economy and people’s well-being. WeLight has already deployed its solu ons in more than 40 rural communi es.” EIB Vice-President Ambroise Fayolle, added that EIB’s backing of the project in Madagascar represents part of the group’s commitment to contribu ng towards scaling up solar mini grid deployment in Africa to mi gate climate change, with the bank having funded projects in Benin, Chad, the Comoro Islands, Mozambique and Uganda. Thanks to the support of these partners and with AXIAN Group, Sagemcom and Norfund as its shareholders, and through the opera onal excellence developed to serve customers, WeLight will pursue its growth in Madagascar and in other countries in Sub-Saharan Africa where such types of needs are s ll not answered. 76 THE ENERGY REPUBLIC I SPECIAL EDITION
Gas Expor ng Countries Forum Member Countries Observers