While Germany is just starting to implement an energy transformation, the neighbouring southern continent has the opportunity to directly use climate-friendly renewable energies. Whether from large rivers and lakes, hot zones, volcanic rifts and air streams, everywhere in Africa it is possible to draw on one or several renewable energies. In particular the potential of solar energy, which today is still considerably more expensive than other energy forms, is large, as well as the possibilities to use water and wind energy and, in some areas, geothermal energy.

"We will also continue to strengthen our offers for financing renewable energies n Africa, as the possibilities for their use there is promising", said Dr Norbert Kloppenberg, Member of the Executive Board of KfW Bankengruppe.

KfW Entwicklungsbank already supports different partner countries in Africa to expand their capacities for renewable energies. In 2010 alone KfW Entwicklungsbank committed EUR 150 million to promote renewable energies for Sub-Saharan Africa, as well as EUR 200 million for the north of the continent. In the same year, the KfW subsidiary DEG granted more than EUR 100 million for renewable energy projects of private enterprises.

Energy is necessary to supply millions of people in Africa with electricity, to which they have no access today. Energy will help further strengthen the economy and help fight poverty on a sustained basis. Theoretically the solar energy of the Sahara could supply the entire earth with energy.

Therefore KfW Entwicklungsbank is also supporting the vision of an energy partnership between Europe and North Africa and promotes wind farms for example in Egypt or solar thermal plants in Morocco.

By The Financial