Post #113

Russia is one of the few countries capable of implementing energy projects in Africa Russia is one of the few countries that have applied knowledge and the necessary competence to implement energy projects on the African continent. This was stated by the Executive Secretary of AREA, CEO of GR-Group Andrey Gromov during the seminar “African Energy Market: Development Trends and Problems”. The expert said that previously the energy sector of Africa was controlled by colonial countries, but now Russia, China, and Arab states are also working on the continent. “Competition for the future of Africa is increasing. There is a certain excitement now, literally a race for investments. Unfortunately, these investment instruments are not so actively developed in our country. However, there is a clear political course that has determined the priorities of foreign policy, and Africa is directly related to them,” Gromov noted. According to him, one of the problems of the energy strategy and development of the energy grid complex is that the programs look unattractive to investors and are more like political declarations. “An investor needs guarantees as part of long-term planning. The structure of investments on the continent has changed very much. Previously, solar energy was unprofitable, but now the cost of solar energy is at the level of coal. Macro conditions have changed. And all these strategies need timely adjustments,” the expert explained. The responsible secretary of the AREA called the most acceptable model of cooperation for Russia the one in which scientific developments and technologies will remain with the Russian Federation, and the orders themselves will be implemented in production facilities where they will be more widespread and cheaper. “We have large, rich scientific developments that need to be finalized and imported into real activities,” Gromov summarized. #AREA#Africa#RussiaAfrica#Russia#energy