Energy investment in Africa needs to more than double by the end of the decade if the continent is to meet its energy and climate goals. “Energy investment on our continent has fallen short,” wrote William Ruto, president of Kenya, in the report’s foreword. Photo: Lucien Kahozi/Bloomberg NewsAll of these are pushing up the cost of capital which makes many African energy projects financially unviable despite ample local resources and proven technologies such as wind or solar power, the report said. PREVIEWCurrently, 600 million people across Africa lack access to electricity and almost one billion have no access to clean cooking fuels. African nations are seeking redress for the effects of climate change they experience despite contributing little to carbon emissions, the main driver of global warming.

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Persons: ”, Fatih Birol, simon maina, William Ruto, Lucien Kahozi, Will Horner, william.horner@wsj.com Organizations: International Energy Agency, African Development Bank, IEA, Agence France, West, “ Energy, Democratic, Bloomberg, Sustainable Business, Africa Climate Locations: Africa, Paris, ” Africa, China, Kenya, Democratic Republic of Congo, Ukraine, Nairobi