The African Development Bank Group (AFDB) stated that energy efficiency is no longer an option, along with it is a priority amid the climate emergency in the continent, according its chief investment officer Jalel Chabchoub.
Working at the Renewable Energy and Energy Efficiency Department, Chabchoub highlighted the African Development Bank’s investments in the sector of energy efficiency.
The Bank’s support included creating the Sustainable Energy Fund for Africa (SEFA) in 2011. Additionally, the Bank is encouraging the establishment of energy efficiency public leading institutions, known as Super Energy Service Companies (ESCOs).
Chief Investment Officer referred to the Bank’s support accommodating its form of support to the needs of supported countries. The Bank is supporting the establishment of energy-efficiency programmes in Egypt.
On the other hand, it is supporting the development of solar water heating programmes in Namibia. Morocco received a $965,000 grant from the Bank in 2021 to help in the transition of the Energy Engineering Company into the first Super ESCOs in Africa.
Chabchoub added that the Bank also supports “renewable energy production” in Egypt, Morocco, and Kenya. He underlined to the importance of having leadership willing to “to move forward together to achieve goals” of energy efficiency.
“Energy efficiency is no longer an option, it is a priority because we are in a climate emergency,” Chabchoub stated.