Powerful boost for new energy industryGlobeleq launches new app to support new journey

Africa’s new energy industry is ready to take off

In recent years, as global climate change has become increasingly serious, developing new energy has become a consensus among countries around the world. As a resource-rich and densely populated emerging market, the African continent has enormous development potential and market opportunities in wind, solar, hydro and geothermal energy. According to the International Energy Agency (IEA), Africa has 60% of the world’s solar energy resources, as well as abundant wind, geothermal and hydropower resources. However, the actual utilization rate is extremely low, and solar power generation capacity accounts for only 1% of the total global capacity. This makes Africa one of the last frontiers for large-scale renewable energy development. In addition, Central and Southern Africa are rich in mineral resources necessary for the production of batteries, wind turbines and other low-carbon technologies, which provides a solid foundation for the development of new energy industries in Africa. In addition, with economic growth, Africa’s electricity demand continues to grow, but insufficient power supply has become a bottleneck limiting local economic development. Statistics show that of the world’s population without access to electricity, about 600 million people live in Africa. The development of new energy in Africa will greatly improve the local energy situation and provide a huge market space.

Currently, African governments are introducing policies that strongly support the development of new energy industries and the construction of new energy projects. Tunisia has declared that “the development of renewable energy is a national strategy” and aims to increase the share of renewable energy in total energy production from less than 3% in 2022 to 24% by 2025. Niger’s latest energy strategy plan clearly states that “by 2030, 30% of the country’s electricity will come from renewable energy, and the installed capacity will increase by at least five times to reach 2,000 megawatts.” Niger plans to develop abundant wind energy in the southern part of the country, build its first wind farm and connect it to the grid by 2025. Currently, the total installed capacity of renewable energy projects in Egypt exceeds 12 gigawatts. The Egyptian government has stated that in the next phase, it will fully utilize solar and wind resources to promote more renewable energy projects. Morocco plans to increase renewable energy capacity to 12 gigawatts by 2030 and increase the share of renewable energy in the total energy mix from the current 40% to 52% in the next eight years. According to a report published by the Africa Solar Industry Association, the photovoltaic industry in Africa is accelerating, with countries such as South Africa, Morocco and Egypt leading in photovoltaic projects. More countries, such as Cape Verde, Botswana and Eritrea, are increasing investment in the photovoltaic industry and are starting to build and operate large-scale photovoltaic projects. The proactive policies of African countries are creating a favorable development environment and a huge market space for the new energy industry.

Globeleq, a leader in clean energy generation

Globeleq is a global leader in clean energy generation. Founded in 2002 and headquartered in London, the company is a leader in the global energy industry. Globeleq actively adheres to the values ​​of safety, integrity, excellence, unity, sustainability and fulfillment to guide its business decisions. The company boasts a professional management team with rich field experience and top-notch expertise in various technical fields, providing solid support for its continuous development. By implementing a diversified generation strategy, Globeleq has accumulated rich experience in developing new capacity and building a balanced portfolio of energy projects.

Since 2015, Globeleq has focused its operations on the African market. The company currently owns and operates 17 power plants in seven African countries, including Cameroon, Côte d’Ivoire, Egypt, Kenya, Mozambique, South Africa and Tanzania, showing strong growth dynamics. In 2023, the total energy production from the company’s African power plants exceeded 7,000 GWh, benefiting 8.8 million consumers and creating almost 182,000 jobs. It is worth noting that the use of renewable energy sources has helped reduce carbon dioxide emissions by almost 1 million tons, contributing positively to climate change mitigation and sustainable development. The company attaches great importance to localization and gender equality, employing 496 employees, of whom 98% are local workers and 27% are women, with women representing 32% of the senior management team. Globeleq highly values ​​establishing stable and good social relationships with local governments and communities. In 2023, the company invested USD 3.1 million in socio-economic development projects in Africa, benefiting almost 130,000 local people. Due to its exceptional investment and operational management capabilities in the African solar sector, Globeleq has won numerous prestigious industry awards in recent years, including the WINDABA 2023 award, the PFI 2021 award and the IJ Global Awards in 2021 and 2020, underlining its leading position in the industry. The company’s continuous investment and excellent performance in the African market has not only ensured reliable power supply but also contributed significantly to the economic and social development of African countries.

Globeleq APP helps your business start a new development journey

To better promote Globeleq’s renewable energy investments across the African continent, the company has developed and launched a new mobile application called Globeleq APP, which will officially begin internal beta testing on July 25, 2024. The APP represents Globeleq’s latest technological achievement, focusing primarily on investments in solar PV and other renewable energy sectors in Africa. It aims to provide investors, policymakers and the general public with a comprehensive and convenient platform to understand and engage with renewable energy projects in Africa. The APP will showcase Globeleq’s ongoing or planned renewable energy projects in various African countries, allowing users to understand project progress, scale and expected impacts through interactive maps and detailed project descriptions. In addition, the APP will serve as a window for potential investors to understand project operations and analyze investment opportunities across different types of projects. Furthermore, the Globeleq APP is a key component of Globeleq’s digital strategy. The company hopes to attract more investors to the renewable energy sector in Africa through continuous technological innovation, thereby increasing transparency and efficiency of projects to drive the energy transformation in Africa and contribute to economic development and environmental protection. Amid the global wave of energy transformation, Globeleq once again demonstrates its leadership position in the industry with its innovative spirit and forward-looking strategy.

Innovation leads to continuous development and growth

Looking ahead, as the demand for clean energy in African countries increases, Globeleq is poised to maintain its position as a market leader in the future. The company will continue to uphold its core principles of sustainable development, consolidating its current market position while actively exploring new business opportunities. Over the next decade, Globeleq plans to further increase the share of renewable energy generation. At the same time, it will increase investment in talent development and technological innovation to continuously strengthen its core competitiveness.

In the blue ocean of renewable energy, Globeleq is forging ahead with a spirit of innovation and strong business fundamentals, continuing its brilliant journey in the renewable energy sector in Africa and contributing more to the energy revolution on the continent. Globeleq’s successful practices undoubtedly bring new vitality to the African renewable energy market and provide valuable insights to global energy companies looking to expand in emerging markets, pushing the global energy industry towards a cleaner, more efficient and smarter direction.