IEA projects Africa's energy expenditure to reach $110bn in 2024, with $70bn from fossil fuels and power supply.
The International Energy Agency (IEA) projects Africa's energy expenditure to reach $110bn in 2024, with $70bn attributed to fossil fuel and power supply. As part of the agency's efforts to explore Africa's energy potential, IEA will delve into West African fossil fuel and renewable energy prospects at the MSGBC Oil, Gas & Power 2024 conference in Dakar. Africa's annual energy investments currently account for about 1.2% of its GDP and will need to increase to $200bn per annum through 2030 to meet growing energy demands.
July 15, 2024
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