Growth in renewable-energy investment in developing countries has overtaken growth in developed countries, which is testament to the role renewable energy plays in the energy sector, says Energy Security Services Africa strategic energy and client delivery head Gareth Gregory.

This, he told Engineering News on the sidelines of the Power & Electricity World Africa conference, was supported by a Bloomberg study, which showed that investment in renewable energy in developing countries had overtaken growth in developed countries by about 16% by the end of 2015.

He added, however, that this vibrancy in the industry was the result of not only technology changes within the energy mix, but also favourable regulations and policies within the industry.

“From about October 2016, we started seeing a few things happening and started seeing a few economies of scale kicking in, which is, ultimately, making an impact and is a clear indicator as to what is happening in the global sector,” he added.

A shift in momentum and willingness to participate – not just from a government point of view but also as a sector – was important in potentially resolving the plight of 650-million people across the African continent currently living in energy poverty, Gregory averred.

“We’ve got 50 years of case study that has failed and we’re in a new era now. I’m so enthusiastic that the sentiments are changing within the sector and that the willingness to participate as a complete sector – and not as divided sector – is gaining momentum,” he enthused.

This, he added, was seen in many African countries.

Meanwhile, Gregory believes that renewable energy is not the future in itself but plays a role in decentralising energy generation.

“Ultimately, your technology groupings can give you an output in terms of an energy mix that’s going to give you a very clear perspective in terms of what percentage of renewable energy is relevant, justifiable and bankable inside the environment,” he said.

He suggested that, going forward, the industry become technology-agnostic as it did its energy modelling and undertook the planning process.