Individual perceptions of renewable energy investment in Somali firms

Somalia's energy sector is seen as potential for development and investment. financing this sector is crucial for development and economic growth. Small and medium-sized private-sector enterprises are the primary electricity generators and distributors, operating diesel-powered systems via off-grid networks This study investigates the factors influencing investment intentions in renewable energy in Somalia. This study utilized a quantitative research approach employing a descriptive research design. The research data for this study were gathered using a structured questionnaire developed based on previous studies to collect primary data from the targeted respondents. A survey was conducted with 220 potential investors both online and face-to-face methods. The data collected were analysed using SmartPLS. This study's findings show that the intention to invest in renewable energy is directly determined by attitude towards renewable energy investments, subjective norms, Perceived behavioural control and risk aversion. These findings have important implications for promoting renewable energy in a country with abundant solar, wind, and biomass resources but limited infrastructure and awareness. The practical implications derived from this study suggest that, policymakers and organizations should prioritize campaigns highlighting the advantages of renewable energy, such as energy independence, cost savings, and environmental sustainability. This research contributes to the literature by extending the TPB to fragile states and providing a nuanced understanding of the behavioural and contextual drivers of renewable energy investments.