For instance, Africa is abundant with renewable energy sources like solar, wind and hydro – ideal conditions for producing green hydrogen. This new partnership could be a win-win situation for both continents. It is a good starting point for Germany to diversify. To tap this potential, stepping up investments in renewables is essential – in Europe and elsewhere.
3 Key role for the financial sector in financing the transition  Renewables have gained further momentum amid the energy crisis. In its recent World Energy Outlook, the International Energy Agency (IEA (International Energy Agency)) said that the energy crisis has the potential to speed up the global energy transition.