Browsing: renewable energy battery storage

US firm, Kenyan investor Partner to Build world's largest battery plant in DRC www.theexchange.africa

The factory is being developed near the tycoon’s nickel mines and cobalt in the DRC. “This is intended to resolve supply chain concerns in global battery supplies.” The batteries additionally will be utilised to power electric automobiles, bicycles, as well as residential and commercial applications, “Mwale explained.

Between now and 2050, the electric battery business is expected to be worth $45 trillion.

According to OEC, an MIT data analysis organisation, in 2020, electric batteries worth US$67 billion were traded, making them the 38th most-traded item worldwide,

Africa’s post-Covid-19 growth recovery and economic prosperity are dependent on renewable energy which will be a critical driver. 

According to International Energy Agency data, scaling up Africa’s capacity to achieve universal access to energy by 2030 would require over US$100 billion per year. Of this amount, 40 per cent would be dedicated to solar, wind, and other low-carbon power generation projects. 

There are a number of initiatives meant to accelerate electrification on the continent among which is the African Development Bank (AfDB)’s New Deal on Energy for Africa which is a transformative partnership-based strategy that aims to increase access to energy for all Africans.