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Africa Can Leverage On Gas, Renewables To Close Electricity Gap – World Bank

The World Bank has revealed that Africa can tap into its natural resources in closing its electricity gaps.

The World Bank made this known in its recent report explaining that African countries can leverage their resources to bring together gas and renewable energy to meet the region’s domestic needs.

In the report, World Bank highlights that “Natural gas and renewable energy can go hand in hand, particularly with gas as both a transition fuel and a source of export earnings.

“Upwards of 5,000 billion cubic meters of natural gas has been discovered but not approved for development on the continent. This could produce an additional 90 billion cubic meters per year until 2030. Up to two-thirds of which the International Energy Agency (IEA) estimates could eventually be used for domestic needs and the remainder for export.

“The use of natural gas in Africa would keep its contribution to carbon emissions at fewer than 10 gigatons over the next 10 years, and, if added to existing emission levels, it would amount to 3.5% of total emissions.

“The International Renewable Energy Agency (IRENA) estimates that Africa could have 310 gigawatts of renewable energy capacity by 2030. This is in part due to the region’s high potential in a range of clean energy: it has 10 terawatts of solar capacity, 350 gigawatts of hydro, 110 gigawatts of wind, and 15 gigawatts of geothermal capacity.

“African countries also have rich endowments of the “green” minerals and metals that are required to build these clean energy technologies.”

According to the World Bank, countries that have rich deposits of natural gas need to develop stable investment policies that are critical for leveraging domestic gas supplies for export revenue and domestic consumption.

“Exploiting natural gas reserves requires substantial investments, particularly for offshore and liquefied natural gas (LNG) transportation.

“Countries should seek deals to invest in their gas reserves that are consistent with meeting domestic energy and development goals while also ensuring sufficient exports of natural gas to generate fiscal and export revenues. Effective policies can support an effective transition from pipeline to operation.” The report reads.

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