African regional energy experts will hold a second meeting of the technical steering committee of the project on enhancement of a sustainable regional energy market in the Eastern Africa-Southern Africa-Indian Ocean (EA-SA-IO).

In a statement released by the Common Market for Eastern and Southern Africa (COMESA) on Monday, the meeting to be held at Swakopmund in Namibia from Wednesday to Thursday aims at reviewing the status of implementation of the first one year of the project.

The review will provide guidance to ensure attainment of the project’s objectives and induct new members of the project management team.

“The meeting brings together five regional economic communities namely; COMESA, the East African Community, Inter-governmental Authority on Development, Indian Ocean Commission and the Southern Africa Development Community.

“Others are the Regional Association of Energy Regulators, Regional Power Pools, Renewable Energy and Energy Efficiency Centres and representatives of the European Union Delegations to the three sub-regions,” the statement reads.

The statement adds the enhancement of a sustainable regional energy market in the EA-SA-IO region project seeks to address market governance and regulatory related challenges affecting the implementation of energy development projects in the Eastern, Southern Africa and Indian Ocean region.

“Three results areas of the project are 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.

“Another result area is 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,” the statement indicated.

The project is being bankrolled 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, the tune of 7 million euros.