Africa needs $40bln investments in power grids

African countries need an average of $40 billion in power grid investments annually for about five years to deliver stable electricity, The Punch newspaper reported, citing Sahara Power Group’s Managing Director Kola Adesina.

He said that electricity demand may be around 30% higher in 2040 from the existing demand, hence it is vital for all stakeholders to improve the continent’s power grids through continuous investments.

Massive investment in Africa’s grids is important to improve system reliability, expand access and facilitate integration of variable renewables, Adesina stated.

The top executive said that annual investment in electricity grids should more than triple in the 2026-30 period, compared with 2016-20, reaching $40 billion per year on average.

Distribution networks account for over two-thirds of this total, he added.

(Editing by Seban Scaria )

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