Brian Dames, chief executive officer of African Rainbow Energy & Power, said the shift to cleaner energy in South Africa for example, meant a massive addition of new generation capacity with strong growth potential.
Africa's most industrialised nation is going through record power outages this year as its unstable coal-fired power stations, which account for more than 70% of generation capacity of around 58,000 MW, struggle to meet demand.transition plan to cut carbon emissions and harness other economic opportunities from the energy transition.
Dames, who headed Eskom from 2010 to 2014, said African Rainbow Energy and Power has invested in more than 700 MW of wind, solar and biomass generation. Despite pledges by developed nations, governments and companies have seen little direct financial inflows into projects in Africa, Dames said, adding that there were still constraints on getting finance to the continent.