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Poor governance and market regulation hindering energy projects-COMESA: Inadequate regulatory environments and governance challenges facing the energy sector in eastern and southern Africa have undermined efforts to attract investment in the region. Dr. Kipyego Cheluget told a meeting of communication experts and journalists that poor market governance and regulatory challenges continue to impede the implementation of energy projects, particularly in the area of energy efficiency. renewable energy and private sector participation
. Journalists and energy experts from five regional economic communities, the Regional Association of Energy Regulators, Regional Power Pools, Renewable Energy, Energy Efficiency Centers and Power Pools regional.
COMESA CEO Speeches Authorities in Eastern and Southern Africa (RAERESA) Dr. Mohamedain Seif Elnasr, Today in Nairobi
"The region has huge untapped natural resources needed for development energy sector, "he said. "However, renewable energy resources such as solar, wind, geothermal, bioenergy, etc., which are yet to be exploited, are found throughout Africa, taking into account that they are site specific. "
He said that COMESA, through RAERESA, was implementing the EU-funded action on "Strengthening a Regional Market for Energy". Sustainable energy in the East Africa-Southern Africa-Indian Ocean region & # 39; (ESREM).
ESREM is a seven million euro project funded by the European Union following the signing of the grant agreement in May 2017. It is implemented in the COMESA member states, the CAE, IGAD, SADC and the Indian Ocean Commission. Its goal is to harmonize regulatory frameworks and enable regional energy regulators and energy pools to promote a dynamic energy market.
To demonstrate the energy crisis in the region, Dr. Cheluget said that Africa had an average electrification rate of 24%. The rate in the rest of the developing world is close to 40%.
"Even in areas covered by the power grid, energy is often unreliable.Maybe a confounding variable of these trends is that less than 1% of the electricity produced in Africa comes from renewable energy resources, "he said.
Speaking at the same event, Secretary for the Development of Electricity, Ministry of Energy, Eng. Julius Mwathani said the increase in the use of renewable energy is hampered by access to finance, knowledge and technology.
To fully exploit the renewable energy potential of countries, Eng. The representative of the Delegation of the European Union in Kenya, Mr. Jean-Noel Gangloff, said that the main aspirations of the ESREM project were to "promote predictability in the market for investors, stability in the region" said Mr. Mwathani. the supply of energy to consumers and the efficiency as well as the sustainability in the exploitation of energy resources for the production of electricity.
The training of communication professionals aims to raise public awareness of ESREM projects and energy development programs in the three African subregions. The training ends on Tuesday, July 31, 2018 with a tour of the Wind Power Project on the Ngong Hills near Nairobi City
BY EABW REPORTER
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