Friday, November 6, 2015
Leading Energy Conglomerate Urges for Alternative Energy Investment at Recent UN Meeting
The 70th United Nations General Assembly was held at the end of September in New York, United States. One of the main topics of conversation was the use and pursuit of alternative energy sources and the power companies that are working to achieve them. Tonye Cole, the executive director of the Sahara Group, was one of the leading advocates urging people to consider investing in affordable renewable energy companies, according to the Nigerian newspaper TheNationOnlineNG.
The Sahara Group is one of the leading African energy, power, and infrastructure conglomerates on the continent. Cole believes with the right investments from governments and energy companies alike, vast improvements can be made that will improve socioeconomic growth in rural communities around the world by 2030.
"Substantial investments are required to achieve affordable and sustainable energy in developing nations. Wind and solar energy are possible options that can be harnessed in rural communities where consumption is relatively low," Cole said. "With the right strategy and unwavering commitment from all stakeholders, we will be setting solid foundations for deploying alternative energy sources to transform lives and small businesses for disadvantaged communities across the globe."
In 1995 it cost about 7.1 cents per kilowatt hour to deliver electricity to investor-owned utilities and generation accounted for nearly two-thirds of the overall price. Today, generating the electricity accounts for less than half the cost, according to the Edison Electric Institute.
One of his calls to action was for more governments to form partnerships with private businesses in the pursuit of this goal. By working with power suppliers he believes they will be able to more effectively persuade the population at large of the value chain of the power sector to ensure support for policies as well as address any potential problems that arise.
Sahara Group has been promoting energy companies' use of alternative sources for many years. They've even established competitions and initiatives that promote the research and development of the industry among students and professionals.