North Africa New Energy Storage Project

This is according to a new report by the World Bank which says that over the next five years SA is expected to show rapid growth in energy storage demand. The rise in demand will come from the transformation of the energy system to include more renewables and developing demand in the electric vehicle (EV) sector...

So far, most of the investments are concentrated in Morocco and Egypt. Contrary to the global trend in the period of 2013-2020 which shows private sector financing as the primary source of funding for renewables development, North Africa sees public finance play a far more important role.

With high renewables potential that can be tapped at low costs, and geographical proximity to Europe where demand for renewables-based or green hydrogen is rising, many North African countries have entered into agreements with other countries and private companies to explore pilot projects for green hydrogen production and exportation.

With its sizable and educated workforce, North Africa has an opportunity to benefit from the job creation potential, driven by appropriate labour market and education policies including technical and vocational training programmes.