Developing a Framework for Public-Private Partnerships in Accelerating Clean Energy Transition in Africa
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Abstract
The change towards clean energy in African continent has become a main concern, reporting the continued energy shortages and discussing the certainty of climate change. This work explores the function of public private partnership (PPPs) in accelerating clean energy transition in continent. The aim of this work includes the evaluation of the regulatory framework, assessing the effect of PPPs and ascertaining policy gaps that dwindle the growth of clean energy development. Secondly the study attracts policy documents and important literature, introducing robust regulatory systems, organizational structures and laws that govern clean energy and PPP in the continent. The analysis was planned on evaluating the effect of current regulatory instruments and recognize the policy gaps that dwindle the smooth accomplishment of PPPs in accelerating clean energy. The major findings revealed that vital role of a well-defined legal frameworks, efficient management of risk and durable community commitment is a successful key factor in deployment of PPPs in clean energy in Africa. This work strongly advice policymakers to focus on the developing a solid regulatory and legal institutions that interests investment and guarantee long term sustainability. It was observed that encouraging risk sharing tools is very significant stride in reducing operational challenges and financial losses. Local communities are expected to have active involvement in unbiased distribution of projects benefits, this is vital in ensuring public recognition and safeguarding long term sustainability. Also diversification and increasing the sources of funds is highlighted as a means to decrease financial risk and prevent reliance on single funding methods. The importance of this work spreads to notifying policy development, protecting investment decision, encouraging community participation, enhancing the project performance, consolidating international collaboration, adding value to academic research, judging environmental impacts and assisting capacity building towards sustaining clean energy transition in Africa.
Keywords
- PPPs
- Clean Energy
- Renewable Energy and Energy Transition
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