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Press release: Schneider Electric signs up to renewAfrica: 26 organisations now officially endorse the initiative

The number of organisations supporting renewAfrica continues to grow as Schneider Electric, the leader in digital transformation of energy management and automation, signs the Initiative’s Declaration of Intent on the occasion of the fifth steering committee meeting.

renewAfrica was promoted by RES4Africa Foundation, which is currently acting as the Initiative’s interim secretariat. The Initiative aims to stimulate the creation of a comprehensive European programme that, in partnership with African countries, provides adequate support at policy and regulatory level, ensures preparation tools across project lifecycles, as well as financial de-risking and capacity building measures.

renewAfrica was officially launched on 4th June 2019 in Rome, when a meeting to present the initiative to the main European stakeholders took place. The presentation was followed by a ceremony in which 20 participants signed the Declaration of Intent, committing their interest and participation to the initiative. The interest during these months has grown, and with Schneider Electric’s joining the number of endorsing organisations rises to 26.

The current lockdown has not halted renewAfrica’s commitment to scale up investments in renewable energy in Africa. The Initiative has recently reorganised its structure into four Task Forces which focus on just as many work streams – Country prioritization, Financial support, Technical assistance, Advocacy and outreach – in order to further streamline its work.

Furthermore, the full alignment of renewAfrica’s strategy with the vision and objectives of the EC has been confirmed by the document “Towards a Comprehensive Strategy with Africa”, recently released by the EU Commission and the European External Action Service. The document outlines the vision of the future EUAfrica partnership, proposing that the European Union and the African Union work together on five key partnerships, of which “Green Transition and Energy Access” represents the first.

The joining of Schneider Electric was positively welcomed by the renewAfrica steering committee, as the Initiative remains open and welcomes the contribution of additional organisations in order to better represent the entire European renewable energy value chain. Moreover, the multinational company ranks high in sustainability among global corporations, and its history in sustainability and social responsibility dates back in time, having included corporate social responsibility as a core of its global strategy, and constantly being recognised as a virtuous company by many independent organisations.

We are very pleased to join this initiative, reinforcing both the commitment of Schneider Electric to take bolder actions to reduce carbon emissions and establish more sustainable business practices that will help set the stage for a post-carbon world, as well as our goal to provide access to energy everywhere, for everyone. We look forward to mobilize our resources to support the sustainable energy development of Africa” states Gary Lawrence, Power & Grid Segment President at Schneider Electric.

Despite the current situation, we are working relentlessly to advance European commitment to create a favourable framework for renewable energy investments in Africa: the joining of Schneider Electric is a concrete example that much can be achieved also during lockdown. Investing in sustainable, renewable energy is more urgent today than ever. The decisions that we make now will shape the world for years to come, so we, within renewAfrica, maintain our commitment and our drive to scaling up investments able to bring clean, sustainable energy to all African countries” concludes Roberto Vigotti, Secretary General of the renewAfrica Initiative.

*The signatories of the Declaration of Intent are: AFRY, Cassa Depositi e Prestiti, COFIDES, DNV GL, EDFI, EDP Renewables, Enel Green Power, Enercon, European Investment Bank, FMO, GE Renewable Energy, GWEC, Intesa Sanpaolo, Nordex, Nordic Energy Research, Norfund, Prysmian, PwC, Schneider Electric, SDA Bocconi, Siemens Gamesa, SMA, Solar Power Europe, Soltec, Vestas, Wind Europe.

renewAfrica is an industry-backed initiative dedicated to boosting European private investments in Africa’s renewable energy. Its 26 Signatories represent leading stakeholders from across the European renewables value chain, including finance, manufacturing, think tanks, consulting, Independent Power Producers, and industry associations. See more: 

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