A global energy transition is under way. Its potential to redraw the landscape will be most profoundly felt in developing economies. These economies will be the key locations of growth and investment. Developing countries have already become the largest absolute source of energy demand, and they are far outpacing OECD countries in terms of growth. Similarly, investment in renewables is now also led by developing countries. Sub-Saharan Africa, home to a majority of the world’s population living with limited, poor quality or no electricity, will likely witness some of the most significant of these transformations.
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