MBABANE:Prince Lonkhokhela, the Minister of Natural Resources and Energy says developing countries are struggling without access to finance to implement bankable energy projects.
The Minister was speaking in Dubai this week during the International Renewable Energy Agency(IRENA) Assembly, the event was attended by other Energy leaders.
As reported by Government online platforms, the Minister acknowledged IRENA’s crucial role in strengthening collaboration and promoting strategic alliances among its members and stakeholders.He highlighted that developing countries especially in Africa, still have difficulties in attracting financing and structuring bankable projects.
“Furthermore, he emphasized that there is an urgent need to increase investments in renewables deployment, including infrastructure and interconnections, hence he recommend that more of the investment forums should be undertaken such as the recent Accelerated Partnership for Renewable Energy in Agrica (APRA) Investment Forum held in Nairobi.Continuing his address, HRH Prince Lonkhokhela expressed gratitude to IRENA for its assistance in supporting countries with the Nationally Determined Contributions (NDC) 3 toolkit, and further urged the agency to extend this assistance to more countries, including Eswatini”, reads the Government online report.
In conclusion, Minister Prince Lonkhokhela shared an update on Eswatini’s progress in renewable energy development, aligning with IRENA’s monitoring of countries’ advancement in the energy transition.
”This progress is also in line with the United Arab Emirates’ consensus of tripling renewable energy and doubling energy efficiency improvements by 2030”, reads the online report.
Natural Resources Minister Prince Lonkhokhela says developing countries including eSwatini struggling with finances for bankable energy projects(pic:Gov).