By Nevson Mpofu
Africa and the developing world have been urged to fund the Green Energy Revolution to the tune of at least $49, 4 billion from the current $9 billion. The World Bank has since 2007 financed $31 billion energy projects in developing countries especially in Sub-Saharan Africa.
To reduce poverty, there is need to focus strongly on energy financing. This is done to develop various energy projects, reduce poverty and win on Sustainable Development Goals particularly Goal number 7 on Energy by 2030. Africa has the biggest challenge. One of its investors, African Renewable Energy Fund finances small projects in hydro-power, wind, solar, geo-thermal, gas and biomass.
Experts in the energy sector in Zimbabwe towards embracing sustainable energy projects. They are sourcing for finance and calling for investments to boost the sector to meet the target of reducing use of biofuels by 60%.
The Clean Energy For All programme by the Business Council for Sustainable Development , Practical Action the Zimbabwe Energy Regulatory Authority (ZERA) is one such initiative.
Speaking to Spiked Online Media, ZERA Chief Executive Officer Gloria Magombo said that adequate funding is needed to run sustainable energy projects. This, she said, must impact the whole world so as to promote the green revolution initiative which does not have effects on human lives as far as air; and and water pollution is concerned.
Air pollution has over the past years affected communities especially in coal mining areas where a number of people have had problems of respiratory and cardio-vascular diseases .These challenges have as well been experienced in urban areas. After hydro-power blackout is experienced, dwellers pursue alternative energy sources which lead to destruction of the natural environment. Some turn to massive use of coal which emits unfriendly pollutants affecting people and the atmosphere.
‘’There is need for adequate funding mechanisms in form of grants and concessional and investments in the energy sector. Embracing the green revolution reduces climate change affects. The Green Climate Fund must come in the form of bilateral and multi-lateral funding.
’’Countries of the world still taking development steps in response to Sustainable Development Goals targets need more funding. It must be more than the current amount so that they can run sustainable projects. This can make developing countries in Africa, Asia and some parts of the World see the light in a changing world in which clean energy is the right path.’’
Patson Mbiriri, the Permanent Secretary in the Ministry of Energy and Power Development said renewable energy financing was being stalled by the lack of political will in many developing countries.
Dr Sosten Ziuke said 40% of the population uses solar energy and its uptake is 80% in urban and 19% is rural areas. Those using electricity are estimated at 52% of the total population. He said approximately, 200,000 urban households and 1, 2 million rural households do not have access to electricity.