Energy experts from COMESA, EAC, SADC and Indian Ocean Commission are set to hold a meeting this week to review the implementation of the Project on Enhancement of a Sustainable Regional Energy Market in the Eastern Africa-Southern Africa-Indian Ocean Region.
The project seeks to among others, address market governance and regulatory related challenges affecting the implementation of energy development projects in the region.
The Project on Enhancement of a Sustainable Regional Energy Market aims at addressing market governance and regulatory related challenges affecting the implementation of energy development projects in the Eastern Africa, Southern Africa and Indian Ocean region.
Among the key areas of focus is a regionally harmonized energy regulatory framework adopted by regional and national regulatory institutions, with particular emphasis on cross border issues to encourage investments in the region as well as the enhancement of regulatory capacity of the National Regulatory Authorities and strengthening capacity of the Regional Associations and Power Pools to proactively influence developments in the energy sector.
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The committee will also deliberate on the enhancement of the development of renewable energy and energy efficiency strategy, policies and regulatory guidelines to attract investments in clean energy and build capacity in clean energy in the region as well as the domestication on a demand driven basis.
Other than the five Regional Economic Communities the meeting brings together the Regional Association of Energy Regulators, Regional Power Pools, Renewable Energy and Energy Efficiency Centers and the representatives of the European Union Delegations to the three sub-regions.
The 7 million Euro project is provided for under the 11th European Development Fund for a period of four years since the signing of the grant delegation agreement with COMESA in May 2017.