Unlocking Renewable Energy Potential in Africa (2024): Who are Africa’s top 5 destinations for Chinese renewable investment?

Beijing, China Development Reimagined, a leading consultancy firm specialising in sustainable development, is gearing up to host the first-ever Renewable Energy Briefing. The briefing is designed to provide Chinese investors with a comprehensive analysis of the renewable energy potential in the top five African nations that offer significant untapped opportunities and a strong demand for energy investments. 

Africa boasts abundant renewable energy resources, including sunlight, wind, hydro, and geothermal potential. These resources can play a vital role in both Africa’s sustainable development and the global transition to a low-carbon future. However, financial constraints and underinvestment have prevented many African countries from fully harnessing their renewable energy potential. African countries’ Nationally Determined Contributions (NDCs) between 2020 and 2030 demand an estimated US$2.8 trillion, surpassing 93% of Africa’s collective GDP. Despite governments pledging roughly 10% of this sum, there remains a significant funding gap, particularly in sectors like energy and transport. Chinese investors can bridge this gap by providing crucial funding, technology, and expertise to help African nations maximise their renewable energy potential.  

The Renewable Energy Briefing, titled “Green Horizons in 2024: Exploring Africa’s Renewable Energy Potential for Chinese Investors” has identified Zambia, Mozambique, Democratic Republic of Congo, Angola, and Uganda as the top five priority investment destinations for Chinese investors in Africa. It provides a data-driven analysis of each country’s renewable energy potential, regulatory landscape, existing infrastructure, and investment opportunities. Additionally, the briefing highlights the crucial role that Chinese companies can play in Africa’s renewable energy transition and will offer strategic recommendations for further investment.  

The selection of the top five countries was based on seven key criteria, including Total Climate Finance (TCF), Electricity Access (EA), Chinese Foreign Direct Investments (CFDI), Renewable Energy Capacity (2022), Deployment of Policies (DOP), Percentage of Renewable Energy Source (RES) in Total Electricity Generated, and Renewable Energy Potential (REP). These criteria were divided into two categories: those showcasing a need for investment and those highlighting potential, opportunities, capacity, and strong relationship with China.  

 Identified top five priority investment destinations 

The Renewable Energy Briefing aims to equip Chinese investors with the essential insights needed to navigate the renewable energy markets of these top-tier destinations successfully. By providing detailed and tailored investor briefings for each country, Development Reimagined is ensuring that Chinese investors have the information they need to make well-informed and successful investments in Africa’s green energy sector. 

For the next step, DR is planning to organise an investment tour in some of  the identified countries in September 2024. The tour will aim not only to visit the sites for potential investment opportunities but also to stir dialogue and brainstorm practical partnerships with African business leaders and government officials to deliver on renewable energy. 

Unlocking Renewable Energy Potential in Africa (2024): Who are Africa’s top 5 destinations for Chinese renewable investment? Find our briefs below.


Get access to our Introduction and Methodology here

Our Angola investment brief here

Our DRC investment brief here

Our Mozambique investment brief here

Our Uganda investment brief here

Our Zambia investment brief here

For more information about the Renewable Energy Briefing, please contact Climate Program Manager Ms. Yike FU at yikefu@developmentreimagined.com 

29th February, 2024  

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