Africa’s renewable energy sector continues to grow steadily, according to the latest Renewable Capacity Highlights report released by the International Renewable Energy Agency (IRENA). Despite accounting for only 1.5% of global renewable energy capacity, Africa saw an increase of 4.2 GW in 2024—a 6.7% growth—led by Egypt, Ethiopia, and South Africa. Tanzania also registered significant hydropower gains of more than 0.5 GW, contributing to the continent’s ongoing renewable energy expansion.
Globally, renewable energy capacity grew by 585 GW in 2024, representing a 15.1% increase. Solar energy remained the dominant driver of this growth, accounting for 452 GW of new capacity—a 32.2% increase year-on-year. Wind power followed, adding 113 GW, while hydropower, bioenergy, and geothermal contributed more modestly to the expansion.
The G20 nations, excluding the European Union and African Union, accounted for 80.9% of global renewable energy share, reaching a total capacity of 3,601 GW. China continues to lead global renewable energy expansion, contributing 373.6 GW to the total. India also made significant progress, particularly in solar energy, while the United States, Germany, and Brazil were among the top contributors outside Asia.
North America recorded a growth of 45.9 GW, largely driven by U.S. investments in solar and wind. Europe added 70.1 GW, with Germany leading the charge, while the Middle East saw a 3.3 GW increase, of which more than half came from Saudi Arabia. South America added 22.5 GW led by Brazil, continuing its steady investment in renewable infrastructure.
While the growth in renewable energy capacity in 2024 marks a significant milestone, IRENA cautions that the current pace remains insufficient to meet the global target of tripling renewable energy capacity by 2030. For Africa, access to financing and infrastructure development remain key challenges. However, the continent holds vast untapped potential, particularly in solar and hydropower, which could be leveraged with enhanced regional cooperation and foreign direct investment.
Source: Energy Capital and Power
