The government estimates that the petroleum sector has capacity to generate between 2 to 2.5 billion dollars per year for the next twenty years. Bateebe said Uganda requires about $25 billion to finance renewable energy sources from hydropower, wind, , geothermal, solar and nuclear power plants.
Prices for key minerals used in clean energy technologies dropped in 2023, but new IEA analysis shows need for greater and more diversified investment to support efforts to reach energy and climate goals.
Africa currently exports 70% of its crude oil and 45% of its gas. Global energy statistics indicate that Africa’s people have the least access to energy.
