Nairobi, Aug. 19 -- The same sun, the same solar technology, but radically different financing costs: renewable energy capital costs are about three times higher in Africa than in Europe, making clean energy more expensive before a single panel is installed.

Africa faces a profound energy paradox. It has vast untapped renewable potential, from geothermal resources to abundant solar radiation, yet accounts for only 4 percent of global energy consumption. About 570 million people still live without electricity, while 923 million lack access to affordable clean cooking technologies.

Clean energy is increasingly becoming the cheaper option as technology costs fall. Between 2010 and 2024, the levelised cost of electricity fell by about 90 pe...