Rapid growth markets will shape the world’s energy future, but capital is flowing unevenly.
How can global finance adapt to support growth without locking emerging economies into high-emissions pathways?
At Davos, leaders argued the clean-energy transition is already reshaping investment—“two thirds of global energy investment” now goes to clean energy—but capital still flows unevenly, leaving a “great funding gap” in rapid-growth markets. Paraguay’s President Santiago Peña framed renewable abundance as a competitiveness strategy: near-100% renewable electricity from hydropower is being used to attract industry and data infrastructure, while the country hedges reliability through solar, regional gas integration, and a tentative exploration of nuclear. India’s Renewables Minister Pralhad Joshi emphasized designing the transition as a “people’s movement,” citing mass rooftop solar and solarized farm pumps that cut subsidy burdens and even drove “tariffs…coming down” for industry—an historic shift. Africa’s Lerato Mataboge highlighted the scale challenge: 240GW serves 1.4 billion people, with the biggest bottleneck shifting from generation to transmission and mini-grids, plus renewed interest in modular nuclear. Investors and financiers stressed bankability: long-term offtake, credible regulation, and grid investment are essential. TAQA’s Jasim Thabet argued “there is no lack of capital,” but perceived risk and weak networks deter it, urging integrated, utility-led solutions. JBIC’s Hayashi Nobumitsu cautioned that nuclear can help decarbonize, but requires “homework” on regulation and human capital. The consensus: balance security, affordability, and sustainability through executable projects, not pledges.
Good afternoon, everyone, and it's a real pleasure to welcome you all today to discuss the great energy funding gap. Such a distinguished panel. We have the warmest of welcomes to you all. So I think let's start with a simple truth. The green energy transition can be a powerful engine of economic development and a massive national security multiplier by speeding up the energy transition. Governments can boost energy security by reducing reliance on fossil fuels. They can boost economic security by building the new green energy industries of the future. They can boost environmental security by reducing particulate pollution and addressing climate change. They can boost social security by creating the new green jobs of the future, and they can boost geostrategic security by creating new, positive green development partnerships. The good news is, is that the global investment picture realises this reality reflects this reality. We now have two thirds of global energy investment going into clean energy, mostly renewables, and now we have renewable energy as the cheapest form of electricity in almost every circumstance. But despite this momentum, the problem is we're still not investing enough. I think that we can all agree that, and certainly not enough to unlock the true development transformative potential of the energy transition. So that really brings us to the central question for this session, which is, what is it going to take to turn energy investment into sustained growth, resilience and economic development? Today's panel brings together such distinguished leaders from around the globe who are grappling with this challenge in real time, from national governments to development finance institutions and energy companies. And so I think there's really no better place to start than with a country that has already translated its clean energy abundance into development advantage Paraguay. So we're really thrilled to have with us. His Excellency. His Excellency, President Santiago Pena. Welcome. Mr. president, we're really thrilled to have you here today with your only day that you're spending here with us in Davos. Mr. President, Paraguay is one of the very few countries to achieve close to 100% renewable electricity, a remarkable achievement primarily through hydropower. So, and you're now looking to leverage that advantage to attract industry and digital infrastructure and foreign investment. So beyond natural endowments, what policy and institutional choices have enabled you to convert your renewable energy power into your competitive advantage?
Thank you very much, Elisa. It's such a privilege to to share this panel with us, distinguished panelists. Paraguay is leading the way in Latin America on on energy transition. The number is 100%. We move 100% of our economy on clean, renewable energy, the most sustainable, which is hydro, and we export half of all the electricity that we produce and we don't consume. So this also makes Paraguay a leader in energy integration with the countries in Latin America, particularly with Argentina and Brazil, which are the two largest economies. This is fueling, the development of new industries. Paraguay growth last year was about 6%, by far the fastest growing economy in Latin America. Energy consumption, of course, is growing. And we are now thinking what is going to happen in the next two, three, 4 or 5 years in developing a better mix of sustainable energy, because, as we saw in many of the countries in Latin America, when we talk about sustainable source of energy, not all sources of energy are sustainable or reliable. And we know that hydro is the most reliable. So we know that now the investment that we are planning, and we propose new legislation to promote and taking into account the experience in other countries on solar. This is going to be a great mix for, the growth and all the demand that is going to happen. We are now on the supply side. We are attracting, companies. We are partnering with countries and companies to make Paraguay a hub, a digital hub, and we will use our energy as the magnet to bring this energy. But we are not satisfied. We think that the technology that is being developed, it will require so much energy that is simply not available, not available today. It's not going to be available in five years, in ten years. So, we are ticking all the boxes, make use of our hydro, invest in solar, but also thinking about how to combine the abundance of gas in Argentina, particularly in Vaca muerta, and how to put Paraguay in the middle to the largest market, which is Brazil. So we are working also partnering with Brazil and Argentina in building this massive gas pipe that will allow also to attract companies in Paraguay. And the and the last one, which is always the most controversial, is nuclear. Paraguay has vast amount of uranium reserves, a high quality uranium, something that we have never explored. And trying to, understand how much wealth do we have now? We are beginning to to do that and understanding that that in the future, nuclear power is also going to be a reliable source for companies to attract investment. So we are very excited. We want to collaborate. We want to share. Paraguay, as we said in the past, was an island surrounded by land, a country that was not known, isolated now is at the frontier of integration. We just signed a free trade agreement in Asuncion, our capital with the European Union, a week ago, creating the largest market in the world 800 million people, $25 trillion economy. So we are very excited that the future will will bring a lot of new opportunities.
Fantastic. Thank you. Remarkable achievements and thanks for sharing those important learnings. Let's turn to another example of real developmental dynamism. And that is India. India is of course, demonstrated that the energy transition can have function as a really powerful engine of growth and of economic development, in particular through large scale renewable auctions, clean tech manufacturing, farm energy schemes and the national hydrogen mission. We're very honored to have with us, His Excellency, Pralhad Joshi, minister of New and Renewable Energy from the Government of India. Minister Joshi, from your perspective, how can the energy transition be deliberately designed to drive industrialization and job creation and competitiveness, especially in emerging markets?
Thank you. There are distinguished panelists, and His Excellency President is here. What he said about the hydro is equally correct. And at the same time, many countries cannot fully have the hydro. That is correct. What he said is wherever hydro is there, that that should be the first priority as far as reliability is concerned. But at the same time, we also have around 80 90 gigawatt of the hydro. India India is a very diverse country and having terrain also all different. But this, as we take it as a transition, as a tool for the development, as the tool for the industry to reduce the cost. In my next part, I will tell you how we have reduced the cost for the industry tariff mean as far as the industry, whatever we provide the electricity for the industry, how we have reduced that, I will tell you so. But overall, in the last ten, 11 years, under the leadership of Prime Minister Shri Modi, what has been done, 267 gigawatt. We have already reached as far as renewables are concerned, means more than 52% of the energy mix is from renewable. Now that we have committed to the world, but we will do it by 2030. But now we have done it. But in the same time, how we have made it a people's moment. See, for example, in distribution, renewable energy, the rooftop solar, we call it as PM Sahar program. In last two years, just last two years, we have installed 2.7 million households rooftop. So we are targeting 10 million. When 10 million is completed, it will be completed by maybe around 27, almost 27 that at that time we will generate 30 gigawatt of the electricity by the only by this scheme. Second, we have installed 2.1 million of the farmers in the farmland. We have solarized their pumps there also. It is 2.1. Some of the countries do not have population of this. I do not want to say about which countries, but we have done in such a large scale. So by that a lot of things are being. It is first of all for the farmers. It is at a very, very affordable cost for the households. It is very, very affordable cost. And we are supporting also these schemes are people centric socio economic change. It is bringing not only socio economic change, they are also selling the power, access, whatever they need, access power they generate, they are selling it by that. They are making money out of that because of their their socio economic status is going up. And the clean energy manufacturing, this has turned the transition, as I said, into the people's movement. So because of that, overall our in country today, what we have done in last ten years, that is an example. At the same time, India is not growing. Our growth is highest in the world today, nearly about 6 to 8% in last almost except 2 or 3 years of the Covid. The Prime Minister Modi's leadership has given a such a direction. We are the fastest growing economy today. We are the fourth largest economy. Our manufacturing has considerably increased electronics manufacturing and many other, I can say, but that is not the subject. But for that, what is all needed is power. Just 11 years back, India was the. There is an acute shortage of power. Today we are having the surplus power and we are managing the industry well. We are managing the domestic consumers well and these consumers are becoming prosumers. They are supplying the electricity. So clean energy, even as far as supply chain is concerned, today we are having the manufacturing capacity of one 44 gigawatt of module manufacturing, 27 gigawatt of cell manufacturing, which is going to shortly reach 50 gigawatt wafer and ingots. Very shortly we will start manufacturing in India entire cycle. We are completing at the same time in half a second. And wind is also we are doing it. It is now 55 gigawatt and storage, battery storage, pump, storage, all such things are there which because of the paucity of the time, I am not able to explain. But this has changed. The not only change, it is only not a energy transition. It has changed the outlook of the people outlook of the industry by this renewable energy. And we are the highest, one of the highest providers of the job. We are the third highest provider of the jobs in the renewables.
Absolutely. Thank you so much, Minister. And I think that this is such a crucial point about the jobs potential. And also people having some ownership over the transition and being able to use that, to change their everyday lives. Thank you. So let's shift focus to Africa. Already home, of course, to some of the fastest renewable energy markets in the world, the youngest population globally and holding such a significant share of critical minerals as well, which has the potential to itself unleash, transformative potential. Could I turn to you, Lerato Matakohe, Commissioner for Infrastructure and Energy, at the African Union Commission. Commissioner, what are Africa's top priorities for accelerating the energy transition at scale?
Oh, energy for us is a critical priority. Not just for electrifying households, electrifying dreams, but also, industrializing our continent. Just to give you context, current installed capacity on the continent is about 240GW for 1.4 billion people. I mean, that's equivalent to Germany alone with 84.5 million people. So, within that big challenge is also a huge opportunity, around generation across the board, whether we're talking wind, solar, I think gas to power is another key area. We do have a lot of, hydro opportunity. But with the climate change, we've seen that a number of our hydroelectric generation capacity is undermined by droughts. So, the continent is now looking at other alternatives, like nuclear as, as Paraguay is doing, to say, how do we begin to, you know, focus on, on nuclear, particularly those modular reactors that we can have help, you know, generate electricity in rural areas, etc.. So there's a big opportunity generation is, is is certainly, an area for growth. But even greater area for growth for the continent is transmission.
Yes.
We're talking about 55 countries that need to be integrated. Transmission lines are a huge opportunity. I think the majority of investments over the last 15 years or so have been in the generation space, but there's a huge gap around transmission. So, anybody who's looking to partner with the continent and invest has to look, considerably at, at generation. And of course, the other growth area for us is the mini grids, as an opportunity, decentralized provision of energy is going to be the future for the continent based on the vast distances, based on the urgent need. So nuclear for us, and looking into mini grids is, is one big, new area for growth.
Excellent. Thank you. And I think, yes, the mini grids and those decentralized energy systems have such enormous importance for energy security in particular, especially given the impacts of climate, which are only going to proceed apace. So let's shift gears to talk about, a financier perspective, an investment perspective. We're so delighted to be joined by, Hayashi Nobumitsu, governor of the Japan Bank for International Cooperation. Governor Hayashi, public budgets are obviously tightening, and development finance institutions like yours are being asked to do a lot more with less, and to play a really catalytic role in mobilising private capital for long dated and quite high risk in a lot, in many cases, clean energy projects. So where do you think that development finance institutions like yours can have the biggest impact today?
Well as you. Yeah. Well, it's an honor for me to be in this very important panel first. And as you said, it's a very difficult and challenging time for many developing institutions, bilateral or multilateral. But my our mission is always has been to work with the host governments, host institutions, to bring in private investors and work with various financial institutions. That's how we have worked, and we continue to work that way. And I would dare say that energy is the least challenging of all the sectors. Well, when you want to, have projects in education or health, you need tax money or you need grants. And in transportation infrastructure, the basic roads and bridges you have to pay. But for toll road or high speed railway, you can earn. But then there is a ridership risk in those projects. But for energy, people know that you have to pay for energy. It's not free. So it depends on how you pay. So our task is to talk with the host governments and find a good solution. As you said at the beginning, renewable energy is much cheaper. So say three years ago we thought that we can turn to renewable energy tomorrow. But the reality is very different. As you talked about, economic security as well. Well, solar panels, wind turbines, they may be cheaper, but if you depend on the supply chain of one country on these devices or batteries, it's not a good problem. It's not a good way to react. It's security issue or trade deficit issue. So we have to have a pragmatic and holistic view. How you mix the energy and how you address the issue. So that's what we do with regard to each country, especially in the with the, Asian countries where we have most projects and find out the best solution for it, for you, for them. Well, when you have hydro or sun, that's fine. But you may have geothermal in some African countries, and I very much prefer waste to energy project because it has some social dimensions as well. And you will really have to invest in a power grid. And there I feel that there are a lot of, places where you can spend much more on energy saving as well. So that's our answer, to these difficulties, to these challenges.
Excellent. Thank you. And from the perspective of a global energy company, can I turn to you now? Mr. Jasim Thabet, CEO and managing director of Taqa. As a global energy company, you operate obviously across a range of emerging markets, and you really sit very much at the interface of, public ambition and private investment reality. So from an investor's perspective, what most effectively reduces perceived risk in emerging and developing market economies for clean energy projects?
Yeah, I think, first of all, thank you for having me. And it's an honor to be with such a senior panel. I think just taking a step back from a utility or an energy company, the business case is for us is very, very clear when it comes to clean energy. And it's and it's even stronger when, when governments and, and sectors look at it at a holistic, solution. It's not a one stop solution that's going to fix all, all your problems. And also, I think we should be looking at it as a, as a long term investment. And we all know, I mean, and you mentioned it earlier in your opening remarks, a, well, well-designed clean energy program has lots of benefits from improvements in energy security. But but also in, in, in it has it has to stand alone and it has to be financially viable. It has to be cost efficient. It has to be reliable. It has to generate, if not 24 hours. It has to contribute in the energy mix, not, with, with with hydro, with efficient gas fired. So it needs to fit in in the bigger in the, in the bigger picture when it comes to investing in, in development and developing markets. In my in my opinion, there is no lack of capital. I think the question is more about the perceived risk and what governments and regulators can do to, to support and reducing that, that, that perception. I mean, we have from long term having long term off take agreements, to, having some support from international banks. All these can can support these projects. And also one of the challenges with and I think that is not really emphasized enough when it comes to renewables, when it comes to the private sector, is the lack of investments in grids and networks. Yes. And, and, I mean, in Cop28, it was commitments made to, to triple renewable generation by 2030, to improve efficiencies. And then after that, there were commitments made that there was significant amount of investments in grids and networks. I mean, from now until 20, 20, 40, I mean, we we need to be, refurbishing or rebuilding 80,000,000km of networks, 80,000,000km of networks by 2040. It's a huge, huge task. So I think there needs to be much more focus, for creating that environment to bring in the private sector, to, to, to to partner when it comes to governments. And I think another another thing I don't want to dwell on it too much is having the private private sector, utility companies changing their mindset. I mean, utilities is not like the how it used to be ten or maybe 15 years ago. They need to be, an enabler to the economies. They need to be working hand in hand with governments, with with industry players helping industries reduce their decarbonization and making them not only reducing their carbon footprint, but making them more efficient, making them make that extra dollar on investment. So that's that's a bit of it.
That's that's such a vital point. I think about the mindset. Thank you so much. And also about the issue of, risk mitigation, when it comes to attracting investment. And I think that that also speaks to the, to the role of political will and political ambition. And so that's really, I think, a very important time to come back to you, Mr. President, because, Paraguay is often described as having the potential to become a Silicon Valley, of South America, which is an incredible vision. So how decisive do you think is a country's power mix? And also that kind of political signaling in attracting global capital and industry and digital investment?
I think it is a combination and and more and more, of course, it's important for countries that already have available energy and reliable sources and high quality and competitive prices. But on top of that, and more and more, geopolitics is playing a greater role. And we're seeing that, agreements are made government to government, even to get access to semiconductors, to microchips. So I think that how political alliance will be made in the coming years will be critical in how to develop big projects. It's not only if you can have abundance of natural resources, but that's not enough. You don't have the capital and the technology to to develop. In our case, Paraguay has partnered with multiple countries and we are building good relations. One of them, which is very sensible, is Taiwan. Paraguay is one of the 12 countries in the world that's recognized Taiwan. And this is a very strong alliance that we have with the Republic of China. Taiwan, is very controversial, we know, but we think is very similar to the path that Paraguay is going through from being a producer of commodity to a manufacturer. And we want to lead on this technology transition. I want to attract companies and think of Paraguay as a reliable country to do multibillion investment, that you need to have that reliability and that trust on the policies that the country is implementing. I think the other factor that will also affect a lot is the domestic politics, because whether we like it or not, this will put a lot of pressure on the social sectors because the price of energy will go up. It's not going to be based on how much you produce. It's a matter of the demand that is coming. And we know that there is no enough supply of energy of any source for the type of demand that is coming in. And we're not talking in the next generation, we're talking in the next 2 or 3 years. So this is going to put domestic pressure, because you're going to have some sectors that will be able to adapt and incorporate to this new technology, and you're going to have other sectors that are going to left behind. And this is going to bring a lot of political unrest in domestic policy. So I, I believe that this is an issue that needs to raise to the front of the discussion. How are we going to finance how we're going to build an alliance and how we're going to deal with domestic policies with a price of energy that's going to be part with the price of the technology and how much it costs to compute, something it's not going to be just the price of the megawatt. It's going to be the price of computing.
Yes, absolutely. Absolutely. And this question of having to meet this rapidly increasing energy demand in real time, while also addressing a whole other range of development challenges, really crucial. And a lot of emerging economies are really at the forefront of that experimentation in how do we address these challenges in real time. And I think the opportunity for learning between emerging economies is huge. On that note, Minister Joshi, could I come to you and obviously you, there are so many impressive achievements of India in the scaling up of renewables. What particular lessons do you think that the Indian experience holds for other countries? What has worked particularly well that you think are transferable lessons?
First of all, I would like to tell that, as far as the depending on single source, that is the really appreciable. But what India is doing on that is we are already into the manufacturing of modules, we are into the manufacturing of cells. And also in got manufacturing have started. Wafer manufacturing will start very shortly and whatever needed for that, including battery storage and the whatever the critical minerals needed for the all these things. India has started working very, very seriously and investment has also begun in that we have brought in a very, very investment, friendly policies that, I would like to make this thing very, very clear to the world that these I fully endorsing the views expressed here. But the thing is we are acting on that also. Second point, what I would like to tell with these renewables question is whether it is affordable. According to me it has it has in India experiment is very very successful. So I can say as our country take the rapid strides on scaling up the renewables, we don't see energy security, affordability, sustainability as competing priorities, but a part of integrated strategy. How I will tell you that I will take one minute more. I think what you have allotted me time in our one of the state in Maharashtra, the huge loss was for the distribution companies. We call it as discoms. Why? The reason was that what we supply the power to the means electricity to the farmers, they are at the mean at ₹1 because of subsidized, as excellency mentioned, and that ₹7, whatever we used to give them, because cost of the energy is ₹8 and supplying energy at ₹1 that ₹7 difference. What we used to do, we used to put on households. We wish to put on industry. What is being done now under Pradhanmantri Kusum Yojana. That is for the Solarizing. The farmer pumps more than, as I said, 2.1 million in that state, in the entire country. And in, in that particular more than 1 million we did that. So result is the total what we are only supplying in the daytime because they, they farmers for irrigation purpose. They need power in the daytime. So what what we did under the leadership of their chief minister with the guidance of Honorable Prime Minister, what important thing was done was that we said, we will supply you the power by solarizing your pumps. So we are supplying the daytime. The cost of the production of that solar electricity is ₹3. In the Indian Indian currency. I think it is some two point are some some sense. I do not able to immediately convert it into dollar, but it is very, very economical. I can say cheap so that ₹5. What we are saving ₹7. ₹8 is the cost one rupees. We, the farmers used to pay the ₹7 out of that. What? We are saving 5 to ₹6. That what burden the industry and households used to bear. That has been reduced. So industry supply of the power to the industry has become. Now it is the first time in India. I am telling you, in the 75 years of Indian independence, the tariffs are coming down. Because of this renewable, revolution of the Prime Minister Modi. So this is the change what we have brought and solarization and also wind. And one more thing is about last. One more thing is about the reliability. Reliability along with battery storage. We are doing the pump storage and nuclear. We have recently brought in a very, very good law replacing all old laws, and our target is to complete 100 gigawatt by 2047 and 15 gigawatt by 2030. That will also add to the base load. This is all we are very, very seriously we are planning. It is a well thought plan for the entire the change of the transition.
Perfect. Thank you Minister. Many lessons to be learned there. Commissioner, can I come back to you, please? How can governments ensure that this transition delivers development and jobs and economic sovereignty and not just installed capacity? And are there any particular experiences that you'd like to share from across the continent?
Absolutely no. There are few experiences. I think we've got leading countries that have really, advanced and broken the mould on the continent, South Africa, Egypt, etc. but for us, what is important is that the energy revolution and the inculcation and strengthening of renewables on the continent has to be driven by African capital and has to be driven by African agency. I think one other thing that we have noted, and you made the point, and I appreciate that, that it's not for lack of capital. I think for us it's it's it's really where African resources and capital are being deployed, in lower risk, instruments, instead of the real economy and funding real infrastructure needs of the continent. So, so our our critical agenda now is African domestic resource mobilisation to fund our energy requirements. Because like everybody else they are increasing. Yes. I mean, when we talk about the digital revolution, the need for data centers, etc., there's a huge need for, for energy. So we need to make sure that we, we play a strategic role in funding our own, as far as possible, funding our own, energy revolution and to when we actually have partnerships external to the continent. Let those partnerships be partnerships that contribute to industrialise in the continent. So we're not just perpetual consumers of technology, etc., and exporting our minerals, but to say, how do we work together to beneficiate to manufacture on the continent for purposes of, the the renewable energy revolution?
Absolutely. Thank you. And this would be a good opportunity then for Governor Hayashi. How is Jbic thinking about these particular issues of crowding in private investment in ways that are actually transformative in terms of industrial development?
Well, as I said, energy is an area, Well, I feel it's less difficult because you get paid as you go along. So there are more and more investors. So what I do is talk with the host governments in order to make projects bankable and as inclusive as possible. Each country has its own priorities. And it's, it's also, what is given in those countries like water or sun are very different. So what I do is try to understand what those countries and do and, bring in sponsors and utility players or financial institutions that are interested in those, those projects. Well, I our mission is Jbic is to support Japanese companies project overseas. But as we do, my job is to talk with those leaders, heads of states and ministers in order to find out those projects that we do are really important for those host country. That is the best way to avoid risks as we go along, because energy is always a very long term, project. That's what we do. But the other thing I would like to say, at this time is about nuclear energy, because there was some discussion about it, because I come from a country which had a bit of a very unfortunate experiences. And also our institution does invest in a US company who has a very advanced SMR technology. Well, nuclear energy has to be an integral part if we are to decarbonize and continue to make economic development. But you need to spend a lot. You need huge investment up front. It's very different from other sources of energy, and you have to have have to establish solid regulatory framework. But more than that, you have to have good human resources specializing in that, in this technology. So I'm very, I very much agree with the interest in nuclear power, but you have a lot of homework to do before you introduce nuclear. Honestly, I feel so.
Yes. And this is not just a challenge for countries, for emerging market economies. In Australia, my own country, where having the nuclear debate and we have very little domestic capability when it comes to scaling up renewables for nuclear. So these are really important issues to to discuss. Mr. Talbot, can I come back to you? Because we're talking we've heard a lot about the importance of, of offtake, when it comes to making projects bankable. But are there any other particular, policies and approaches to addressing this issue of bankability from your perspective?
I think when it comes to, bankability, we mentioned offtake. We mentioned de-risking, some guarantees. I think what utility companies look at beyond the sovereign guarantee of a nation and I think goes back to some of the, the, the comments made by, by, by the panel is not only the bankability of the project, but also the fundamentals of the project. And and how is the government recouping and and how much is the subsidy, how much is the tariff? How many? So the fundamentals of this project on the economy. So this gives also utility companies more, more comfort. Because it's you can you can have the strongest contract in the world.
Yes.
But if it's not, if this project is not really creating value and there is a road or a transition to being sustainable and reducing subsidy, I think that's that's also one thing that we look at. And again, I go back also to, the holistic integrated approach is also very important where private or utility companies can support governments. Like one example. Taqa, which I'm the CEO of. We're a fully integrated utility company based in Abu Dhabi. We have over 70GW of capacity. And when I say fully integrated, I mean everything from the generation of power and water to the transmission, to the distribution and to the collection from the from of, of power and water bills and then also from, from the collection of the wastewater and then treating the wastewater and then distributing the reused water to, to the end users to make sure that every kilowatt and every drop of water is utilized in the best way. And having players like this sometimes gives peace of mind. When you're dealing with governments that you can, you can, you can deliver this holistic approach. I'm I won't take too long, but one one good example is is what we're doing in Morocco. So in Morocco, the United Arab Emirates, signed some bilateral bilateral agreements and MoUs, and we're working hand in hand with, with the ministries and the private sector. And in Morocco, where we are developing everything from, efficient gas fired projects, renewable projects, transmission, supporting the transmission from the south, where you have high wind yields and giving it to the north, and also developing significant amount of, of, of water projects from desalination, potentially up to 500 million imperial gallons of seawater desalination in the next few years. So, and these projects really create that, that value. Right. So you have everything from, from the generation all the way to the end user power, water, wastewater. And this is where I believe, utility companies can add value to.
Excellent. Thank you. Well, we're our session is soon to be drawing to a close. So I might just end with a final, call to each of our panelists for just one very short statement, on one concrete action that you think our governments or dfis or companies should prioritize in the next 12 to 24 months to unlock clean energy investment that delivers growth, security and development. Commissioner, could we start with you?
Well, for us, it's really partnering with, African, financiers, African corporations to unlock the potential. I think we are at the point now that we need to make sure that the, the industrial benefit, remain on the continent, because for us, it's a huge gap everybody else is producing but the African continent.
Perfect local partnerships for local development. Thank you so much, Mr. President.
We need, concrete actions. We have done a lot of pledges, good statements, but the energy challenge is one is going to be one of the greatest challenges of our generation, and and the world and the multilateral institutions, the architectural, the international architecture, who is trying to solve the issues. And we have one example today with the board for peace, proposed by President Trump is one initiative, but also recognize that the multilateral system is not working. It's not addressing, the real problems. And and I think that we need to raise awareness and we need to move with concrete actions, how we're going to solve, how we're going to create the financing, make the available financing. What are the assurances that financial institution needs? How are we going to mobilize and give the assurance to the private sector to invest? Because there is absolutely no doubt we need more energy, we need more reliable source of energy. And for that, we need to bring all the parties together.
Thank you, Mr. President. Minister Joshi, in one minute.
No, I will take just half a second. One is ecosystem is, Because I am proud that we have achieved in this sector ecosystem for the investment that is blended finance and dfis and multilateral banks and investment in supply chains and focus on Dre, these can solve the problem.
Perfect. Thank you, Mr. Thabet.
Just to add on, I believe supply chains is a very, very key area that I think governments and the private sector can, can work together and give clear demand signals to OEMs to to the bottleneck. I think that's one of the biggest challenges that we're facing. And I think the government and the private sector can work together hard.
Thank you. And, Governor Hayashi.
I don't think we should prioritize one thing. There has to be a good balance between energy security, affordability and sustainability, and balancing all these three requirements. Let's work on the ground. As His Excellency said, we have to work on the ground realizing one project after another because everybody needs it.
Perfect. Thank you. So many ideas. So much inspiration for advancing a really comprehensive national security enhancing agenda through the energy transition by unlocking finance. My warmest thank you for being such a fantastic group of, discussants and, my warmest wishes to everyone.
Thank you, thank you, thank you, thank you very much.