The three-day Africa Energy Indaba conference-expo will open this Monday 19 February 2013 at the Sandton Convention Centre in Johannesburg, South Africa.
Africa is one of the strategic regions with significant contribution for the maintenance of the global energy security architecture, the organisers said, adding that energy security is one of the main components of the African Union energy sector vision and objectives.
But despite boasting huge energy reserves capable of developing the continent, Africa still struggles to meet its energy needs mostly due, among others, to lack of funds for energy investments, inadequate skills and infrastructure – topics that are expected to be debated at the conference.
According to research, Africa needs the following amounts of money to meet its fast-growing energy demand growth:
- A huge capital investment of US$ 43.6 billion per year is required in the energy sector.
- $42 billion per year is needed in the power sector compared with a current level of less than 1⁄4 of this amount.
- A substantial, upfront investment of $5.4 billion per year in transmission is needed to meet forecast demand prior to 2025.
- An investment of $3.7 billion per year in access is needed to achieve an access rate of no less than 60% in all African countries by 2040.
- Investments of $1.3 billion per year in gas and products pipelines will be needed.
Organisers say the main challenge is to finance the large capital investment requirements of the power sector, especially the need to increase private sector financing and sector cash-flow by some seven to ten-fold their current levels.
According to organisers, AEI is a worthwhile platform for companies and decision-makers to demonstrate their commitment to provide solutions and services that will enable the African continent to embrace the challenges arising from current and future energy demands.
Panellists include Petro SA CEO Noziswe Nokwe-Macamo, Engen Petroleum’s GM for corporate planning David Wright, SABIA chairman Mark Tiepelt, Zimbabwe Power Company MD Noah Gwariro, Namibia’s Director of Energy Selma-Penna Unitoh, Senegal’s Dr Latsoucabé Fall, Regional Manager at Africa World Energy Council, and France’s Dr Yves Guenon, AREVA MD.
The exhibition, which is set to be officially opened by South Africa’s Gauteng provincial minister in charge for infrastructure development Qedani Mahlangu, will be showcasing the latest technologies and vast opportunities in Africa’s energy sector, according to the organisers.
They said the showcase will include companies supplying, or able to supply, the large range of equipment, components and specialist services needed by the industry.
AEI is sponsored by the Gauteng Province, World Energy Council, AREVA, NuclearForum and Deloitte.
South African minister of energy Dipuo Peters is also due to attend.
*Photo by CDKN Africa. A wind farm in the Western Cape, South Africa.