6 May, 2024 Press release

EAIF 2024 to gather investors and leaders in Lagos

Lagos, 6 May 2024 – Investors and leaders in the decentralised renewable energy (DRE) sector from across the world will converge in Lagos, Nigeria on 21-23 May 2024 for the premier annual event in the industry – the ARE Energy Access Investment Forum (EAIF) 2024. Dedicated to fostering business and investor partnerships, EAIF 2024 aims at tackling pressing global issues, including sustainable electricity access, decarbonisation, economic growth, and climate change mitigation.

EAIF 2024 is organised by the Alliance for Rural Electrification (ARE) and co-hosted by the Delegation of the European Union to the Federal Republic of Nigeria and ECOWAS, and supported by GET.invest, a European programme mobilising investment in renewable energy, supported by the European Union, Germany, Sweden, the Netherlands, and Austria. The Forum will be held under the patronage of the Nigerian Rural Electrification Agency.

The three-day event is expected to attract over 1,000 on-site and virtual participants, comprising private and public investors, industry leaders, and government officials from around the globe. EAIF 2024 will also feature the Nigerian Renewable Energy Day on 23 May, offering a platform for local and international and stakeholders investors to engage in dialogue and foster partnerships.

Head of Cooperation at the EU Delegation to Nigeria and ECOWAS, Mr Massimo De Luca said the EU is thrilled to co-host this pan-African event in Nigeria, given its stake in the country’s energy sector and added: “The EU has a long history of partnership with Nigeria when it comes to renewable energy and electrification, having committed some €300 million in grants since 2008. More is coming with the rollout of our Global Gateway Strategy, which will mobilise investments from the European Development Finance Institutions and the private sector. The Forum will provide an opportunity to share our achievements and experiences across the continent and to advance the sustainable energy agenda in Nigeria.

David Lecoque, CEO of ARE, stated: The rapid growth of renewable electrification is pivotal to improve living conditions and driving sustainable economic development. ARE firmly believes in its potential. Since 2015, EAIF has been a leading platform in advancing renewable electrification and sustainable development. This year’s Forum brings together private sector stakeholders, investors, and decision-makers in Lagos, offering a crucial opportunity to tackle energy access issues and boost clean energy investments worldwide.”

Albert Fuchet, Global Vice President of Access to Energy from Schneider Electric said: “In line with UN’s SDG 7, Schneider Electric is dedicated to making a sustainable impact. Our efforts to combat climate change and social inequality inspire us to develop clean, reliable, and affordable solutions, bringing power to communities with unreliable or no electricity. We firmly believe that access to energy is a fundamental human right. Through collaboration and innovation, we are committed to empowering underserved communities for a fair and inclusive energy transition, and the EAIF conference is a great way to engage with all stakeholders on sustainable initiatives.

Approximately 675 million people worldwide still lack access to electricity, primarily in sub-Saharan Africa, Asia-Pacific and Latin America & the Caribbean. Moreover, despite Nigeria’s status as the largest economy in Africa, 85 million of its citizens still do not have access to the electricity grid. Persistent challenges, particularly in securing ample and accessible financing for renewable electrification, remain. Addressing these challenges, the forum’s agenda is packed with a spectrum of critical topics, including clean and just energy transition financing, data collection and electrification planning, manufacturing, carbon credits, women’s empowerment, circularity practices in the DRE sector and more.

Michael Franz, Team Leader of GET.invest confirms: “Bridging the gap for DRE and bringing the sector to scale is key for renewable electrification, particularly in under-served regions. This is where innovation happens, with fast deployment times and adaptable solutions for both households as well as productive and commercial uses. EAIF 2024’s focus on fostering partnerships between financiers and DRE companies is what is needed to accelerate invesment in clean energy and energy access.”

Finally, EAIF 2024 extends its gratitude to its sponsors and strategic partners whose support has been instrumental. This year, Schneider Electric joins us as the Diamond Sponsor, while ADA, ComAp, and ENGIE Energy Access are recognised as Gold Sponsors. ARESS and GDS International stand as Silver Sponsors, and All.On, ennos, GAIA Impact, I-REC Foundation, and VIDA contribute as Bronze Sponsors. Additionally, the forum acknowledges the invaluable support of its key strategic partner: the African Development Bank and the Sustainable Energy Fund for Africa, and its strategic partners: Africa Minigrids Program, Energy Catalyst, Konrad Adenauer Stiftung, Transforming Energy Access – Learning Partnership, and The World Bank. We also extend sincere thanks to our National Association Partner, the Renewable Energy Association of Nigeria, for their invaluable collaboration.

For more information and to register for the event, please visit the EAIF website (www.eaif.energy).

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