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Investors to explore renewable energy opportunities

RENEWABLE energy development that will facilitate less reliance on hydrocarbons is set to take the front burner, as business leaders and policy makers from several African countries meet in Berlin, Germany to discuss the issue.

At a conference tagged, African Renewable Energy Alliance, AREA, participants are expected to explore the ‘Investment Opportunities in Renewable Energy’, in support of much needed infrastructure development and youth employment.

The organisers of the conference scheduled to hold between October 4 and 8, say the conference is coming at an opportune time when the world is experiencing a wave of environmental disasters, analysts believe investment in renewable is an opportunity whose time has come.

High oil prices and the impact of emission to global warming and climate change force many developed countries into investing and increasing researches on renewable energy or green fuel.

Renewables Academy AG, Berlin and Oil & Gas Soft Skills, Nigeria, which are jointly organising the conference say the issue is already attracting strong interests from Rwanda, Ghana and Nigeria, among several other countries.

The Chief Executive of Oil & Gas Soft Skills, Mr Emmanuel Emielu, argues that there is the need to invest in developing the entrepreneurial and skills base needed to achieve a massive diffusion of renewable energy technology in Nigeria and across Africa.

He added that “It is entrepreneurs that create jobs and drive investments in technology. But in a country known more for its import dependency than Research & Development, R&D, and manufacturing, we stand the risk of ending up with a generation of ‘importers of renewable energy’, thereby making Africa yet another dumping ground for all manner of sub-standard renewable energy gadgets.”

Mr Emielu explained that the executive seminar will help participants understand the technical, operational, and business dimensions of this very important but emerging industry.

“They will learn to identify possible areas of business opportunity for further pursuit, including the peculiar requirements for the finance, insurance, and management of renewable energy projects.”

Emielu, who is also a member of the AREA, argued that Africa is yet to build the requisite human capacity for economic development in spite of its huge population, saying that this has been the cause of many failed national content programmes by most African countries.


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