Africa’s transition to clean power surges – PwC

PwC’s Africa Energy Review 2024 report has said Africa’s energy landscape is undergoing a transformation, with SA emerging as a leader in the continent’s transition towards energy security. According to the report, the continent’s clean energy generating capacity surged by 7.1% in 2023, setting the stage for a more sustainable future. A Business Day report says SA’s energy sector reforms have gained momentum after the signing of the Electricity Regulation Amendment Act in August 2024. The legislation introduced reforms aimed at creating a competitive electricity market and modernising the sector. According to PwC’s Andries Rossouw, Africa’s clean power generation is expected to increase to 25% by next year. ‘This growth will be driven by significant advancements in solar, wind and hydro-generated power. SA dominates the region’s renewable energy investments, particularly in solar and wind.’ Despite this progress, challenges persist. Rossouw emphasised the need for continued investment and collaboration to meet growing energy demands and transition to sustainable energy systems. PwC’s Julie Rosa highlighted the importance of regulatory reforms, public-private partnerships and investment in infrastructure and technology. She noted that these factors were critical for advancing Africa’s energy landscape.

Full Business Day report