African countries will require an average of $40 billion power grid investments annually for about five years to deliver stable electricity to citizens on the continent, the Group Managing Director, Sahara Power Group, Kola Adesina, has said.
Making the assertion while delivering a keynote address on ‘The Future of Power in Africa’ at the Lagos Business School, according to a statement by the Head, Corporate Communications, Sahara Group Limited, Mr. Bethel Obioma, Adesina said projections indicate an increase in energy demand across Africa in the coming years.
He noted that in 2040, this demand could be around 30 per cent higher than what was obtainable currently, adding that it was vital for all stakeholders to work towards shoring up the continent’s power grids through continuous investments, the statement said.
“Massive investment in Africa’s grids is critical to improve system reliability, expand access and facilitate the integration of…
Source: Thisday Newspaper