Thursday, 12 Nov 2026 Breaking: Scientists discover crows can make decisions twice as fast as humans: Study
BREAKING: Apple launches AI platform | Tesla earnings beat estimates | Nvidia stock surges | Bitcoin crosses major resistance
Business

African nations look to India for solar investment, technology and capacity building

African nations look to India for solar investment, technology and capacity building

New Delhi [India], November 5 (ANI): African countries are looking to strengthen cooperation with India in solar energy through technology sharing, investment and capacity building, as Zimbabwe aims to increase the share of non-fossil fuel energy in its electricity generation to 49 per cent by 2030, while Liberia is seeking greater participation from Indian companies in its solar power projects.
Speaking to ANI on the sidelines of the Bharat Renewable Energy Summit and Expo 2026, Zimbabwe's Minister of Energy and Power Development July Moyo and Liberia's Deputy Minister for Energy Charles Umehai highlighted the scope for India-Africa cooperation in expanding renewable energy infrastructure.
Moyo said Zimbabwe aimed to raise the share of non-fossil fuel energy in its electricity generation to 49 per cent by 2030, from less than 20 per cent currently. He said the target would include hydropower, which already contributes around 35 per cent of the country's electricity generation, while most of the additional capacity would come from solar energy.
"We want to advance non-fossil fuel energy to 49 per cent from as low as what it is now, way below 20 per cent," Moyo said, adding that the expansion would include hydropower and come "mostly" from solar.
He said Zimbabwe had signed three agreements with the International Solar Alliance (ISA) to promote community awareness and training, support solar innovation research at Chinhoyi University of Technology, and encourage the use of solar energy in agriculture.
Highlighting India's strengths in the renewable energy sector, Moyo said the country had developed capabilities across solar manufacturing and grid management.
"India is very advanced in the solar energy ecosystem from industrial production to AI use of AI to make sure that the national grids can actually accommodate solar," he said.
However, he stressed that renewable energy should complement rather than completely replace conventional sources, citing limitations in battery storage and the impact of climate change on hydropower generation.
"Solar and other renewable energy should be an expansion rather than a replacement," Moyo said.
Meanwhile, Liberia is looking to attract Indian investment to expand its solar power capacity. Umehai said the country had commissioned its first 20 MW utility-scale solar photovoltaic project and was encouraging Indian companies to participate in future projects through the independent power producer (IPP) model.
He said Liberia offered duty-free privileges on renewable energy and solar photovoltaic products to attract investors.
"This is a great opportunity where Indian companies can come and look into Liberia. And yes, Liberia is open for business," Umehai said.
Identifying access to finance as a major challenge for renewable energy developers, he said Liberia was encouraging independent power producers with the financial capacity to invest in the sector.
Under the proposed model, electricity generated by private developers could be purchased by the Liberia Electricity Corporation and supplied to mining companies, providing a potential revenue stream for investors.
Umehai also highlighted the importance of developing domestic renewable energy resources amid geopolitical tensions and concerns over energy security.
"This is a time for us to look more within, inwards, and see how best each country can develop our renewable energy potential," he said.
He added that capacity-building initiatives and technical assistance from the International Solar Alliance could help African countries strengthen their renewable energy infrastructure and accelerate the adoption of solar power. (ANI)

Tags

Related News

"A Legend replaces a Legend": Trump backs Tim Cook to succeed Jensen Huang as Nvidia shares dropped 13%, rebounding to 5%
Business
"A Legend replaces a Legend": Trump backs Tim Cook to succeed Jensen Huang as Nvidia shares dropped 13%, rebounding to 5%

<p>Washington DC [US], November 12 (ANI): In a dramatic development shaking global capital markets, Nvidia CEO Jensen Hu...

Rising food inflation underscores need to boost domestic pulses, edible oil production: NITI Aayog VC Ashok Lahiri
Business
Rising food inflation underscores need to boost domestic pulses, edible oil production: NITI Aayog VC Ashok Lahiri

<p>New Delhi [India], November 12 (ANI): Amid rising inflation, with the Consumer Price Index (CPI)-based retail inflati...

October retail inflation surge may weigh on housing demand, raise rate hike concerns: Knight Frank, PHDCCI  
Business
October retail inflation surge may weigh on housing demand, raise rate hike concerns: Knight Frank, PHDCCI  

<p>New Delhi [India], November 12 (ANI): Rising retail inflation could weaken household purchasing power and constrain d...

NVIDIA shares plunge over 13% after Jensen Huang's resignation, recover some losses in early trade
Business
NVIDIA shares plunge over 13% after Jensen Huang's resignation, recover some losses in early trade

<p>New Delhi [India], November 12 (ANI): NVIDIA shares plunged more than 13 per cent in pre-market trading on Thursday f...

Nvidia plunges over 13% after Jensen Huang's resignation; Nasdaq leads Wall Street losses
Business
Nvidia plunges over 13% after Jensen Huang's resignation; Nasdaq leads Wall Street losses

<p>New Delhi [India], November 12 (ANI): US stock futures opened lower on Thursday, with Nasdaq futures declining over 1...

US initial jobless claims climb to 200,000, four-week average remains unchanged
Business
US initial jobless claims climb to 200,000, four-week average remains unchanged

<p>New Delhi [India], November 12 (ANI): US weekly unemployment claims increased by 9,000 to 200,000 in the week ending...