The International Renewable Energy Agency (IRENA) Monday said deployment of renewable energy is facing currency, political and unstable political risks.
Director General of IRENA, Francesco La Camera said there is an urgent need for long-term contracts and stable policies to reduce risks related to currency fluctuations and political instability, which remain major barriers to private sector investments in Africa.
Speaking at a press conference at the ongoing Accelerated Partnership for Renewable in Africa (APRA) conference in Nairobi, Kenya, La Camera said IRENA is helping countries like Nigeria to attract project that will expand Nigeria’s renewable energy infrastructure.
He noted the need for attracting both public and private investments to build large-scale renewable projects and interconnected grids. La Camera urged governments across Africa to create enabling environments that include predictable…
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