Sobogun gave the figure while delivering a paper titled ‘Energy Mix – The Challenges with Funding and Deploying Commercially Viable Renewable Energy Solutions,’ at the recently concluded West Africa Power Pool Conference in Dakar, Senegal.
Citing the International Energy Agency’s Africa Energy Outlook for 2022, Sobogun said: “achieving Africa’s energy and climate goals means more than doubling energy investment this decade. This would take it over $190bn each year from 2026 to 2030, with two-thirds going to clean energy.
He stated that, the funds would be required to drive the installation of the renewable energy sources, as well as the infrastructure needed for the generation, network and storage system, and other enabling costs. According to Sobogun, solar, wind and hydro power generation are the most viable renewable energy solutions in Africa. He pointed out that Nigeria’s photovoltaic power potential made solar energy very feasible for both investors and consumers.
It's only a challenge raising that fund for as long as our political leaders sees public office as a mean to enrich their unborn generation
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