Factor Energy presents the event: Implementation of NDCs and renewable energy in Africa at the IRENA Assembly, in Abu Dhabi
15 January 2018 | Mitigation
Last Friday, January 12, 2018, Hugo Lucas, Head of Factor Energy and CEO of Factor Germany, presented the event: "Implementation of NDCs and renewable energy in Africa: Harnessing investments in renewables to improve the quality of life ", at the eighth session of the IRENA Assembly in Abu Dhabi, United Arab Emirates.
The event, organized by Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety (BMUB, for its acronym in German) and Factor Energy, consisted of a round table that addressed the main barriers to the deployment of renewable energy in Africa.
The objectives of the round table were the following:
- Discuss and further elaborate on the key areas of action established: supporting SMEs in the renewable energy sector, working with financial institutions to create financing for small and medium-sized projects, establishing incubators for renewable energy, de-risking off-grid renewable energy projects, advancing sustainable and responsible investment, among others.
- Showcase and further assess the relevance of small and medium sized renewable energy projects and SMEs for NDC implementation.
- Elaborate on de-risking investments for small and medium sized renewable energy projects in Africa, both grid-connected and off-grid.
- Discuss the challenges faced by SME in developing decentralized renewable energy projects.
- Discuss and evaluate possible solutions to overcome the challenges of small and medium sized renewable energy projects and SMEs in the African renewable energy sector.
Nationally Determined Contributions (NDCs) are a key element in limiting global warming to well below 2°C and ideally to 1.5°C in line with the Paris Agreement. Many of the NDCs feature renewable energy as a means to mitigate climate change and create a resilient and secure energy supply.
Last year, Factor presented at COP23 the report on the implementation of the energy component of the NDCs of the countries of the Economic Community of West Africa. The following are the links to the report:
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