Norway Scales Up Renewable Energy Investments, forging Key Partnerships Across Africa
LAGOS, NIGERIA – Norway is rapidly expanding its footprint in Africa’s renewable energy sector, deploying a multi-pronged strategy encompassing funding, infrastructure progress, and targeted commercial solutions. This escalating investment aims to address growing energy demands while reducing reliance on fossil fuels across the continent.
The Scandinavian nation’s approach centers on leveraging its sovereign wealth fund and specialized entities like norfund and SCATEC to drive sustainable energy projects. Norfund dedicated 70% of its 2024 investments to African initiatives,signaling a strong commitment to the region. SCATEC focuses on developing major infrastructure, while Empower New Energy is concentrating on decentralized solar solutions for industrial and commercial clients.
Empower New Energy exemplifies this targeted approach,recently equipping the Justrite chain of stores in Nigeria with 2.8 MW of solar panels and 5.6 MWh of storage, capable of generating 8000 MWh of electricity annually. The company is also active in Morocco, Tunisia, Egypt, Ghana, and Kenya, directly assisting businesses seeking to lower energy costs and decrease their dependence on diesel fuel.
This coordinated effort positions Norway to establish a long-term, influential role in Africa’s energy transition. By supporting projects across the spectrum – from large-scale infrastructure to localized commercial installations – Norway is fostering a resilient and diversified renewable energy landscape, potentially paving the way for broader cooperation with African nations.
By Abdoullah Diop
Edited by Feriol Bewa
Read also: Renewable energies: 70% of Norfund investments in 2024 were devoted to Africa https://www.agenceecofin.com/actualites-industries/1806-129307-energies-renouvelables-70-des-investissements-de-norfund-en-2024-ont-ete-consacres-a-l-afrique
