RES4Med&Africa at EXCO2019 to push for a water-energy-food nexus approach and for a financing instrument to power Africa with renewable energy

RES4Med&Africa hosted two discussion panels under the title of “The Role of Renewable Energy: Business Empowering” at EXCO2019, the expo dedicated to innovative solutions provided development cooperation actors. The event was attended by 60 participants and saw the contribution of around 20 speakers.

The event was opened by Roberto Vigotti, Secretary General at RES4Med&Africa, and Luca Maestripieri, Plenipotentiary Minister and Director at AICS. Two sessions followed: the first, opened by Lamberto Dai Prà (Enel Green Power) and moderated by Martina Colombo (Cassa Depositi e Prestiti), highlighted the need for a new financing model to reduce risk and support investments in renewable energy in Africa. RES4Med&Africa, in collaboration with PwC, analysed all the instruments that exist today that guarantee financial support (national and international) of the European Union, highlighting their strengths and weaknesses, thus stressing the need to create a more complete instrument that guarantees technological and geographical neutrality, a package of guarantees and insurance and which covers all the crucial phases of investments in renewable energy. This theme was discussed in the White Paper “A New Instrument to Foster Large-Scale Renewable Energy Development and Private Investment in Africa”.

The second session presented the enabling role that new business models based on the water-energy-food nexus approach can play in achieving sustainable development, with a significant role played by renewable energy solutions concerning the energy sector. The session was opened by Rabia Ferroukhi (IRENA), moderated by Josefina Stubbs (RES4Med&Africa), and speakers from IFAD, AICS, AVSI, CEDIAM, FAO and BonelliErede provided their insights to the discussion. In coming months, RES4Med&Africa will present a study that analyses both investor and project developer needs to elaborate and propose innovative potential business models. In a second phase, these will be implemented with pilot projects carried out in collaboration with governments, multilateral organizations and NGOs. The water-energy-food nexus theme will also be addressed by the association’s high-level flagship publication for release during the RES4Med&Africa’s Annual Conference in Addis Ababa, Ethiopia, in June. To support the discussion, RES4Med&Africa also released a video on the topic, which was presented at EXCO.

“At RES4Med&Africa we’ve elected the water-energy-food nexus and the need for a new financing instrument as strategic initiatives. We are exploring these issues and working on providing concrete and implementable solutions. The topics we addressed today anticipate target outcomes for our upcoming Annual Conference” concluded Roberto Vigotti.