Local value capture from the clean transition: insights from Kenya and Uganda
Clean energy transitions in emerging economies have the potential to solve several integrated challenges like energy access and broader societal challenges like jobs creation, skills development and industrial development. Maximizing these local benefits from clean transitions is crucial for host countries to achieve sustainable development goals and to sustain long-term commitment to low carbon development pathway. A clean energy transition is already underway across the Global South and renewable energy and solar PV in particular is highly prioritised by countries in regards to reaching their Nationally Determined Contributions (NDCs) as well as part of their national development plans. However, much of the growth and economic value in the solar PV market is captured by relatively few internationally-owned companies operating in Sub-Saharan African (SSA) countries. While there is a large international focus on how to support the diffusion of solar PV to increase energy access, there is comparably less attention being paid to the mechanisms and frameworks that can enable domestic companies to capture larger shares of the economic value in this market. This side event brings together stakeholders from Kenya and Uganda to share and discuss experience from the private sector, local banks, and international donors on how local industries and companies can be supported in capturing larger shares of the solar PV market.