African Development Bank Group (AfDB) / Press Release

Source: African Development Bank Group (AfDB) | Sep 17, 2021

African Development Bank’s SEFA grant to support first Super Energy Service Company (ESCO) in East Africa

The Super ESCO, to be run by the Kenya Power and Lighting Company, will develop and implement energy efficiency projects for both the public and private sectors

The Sustainable Energy Fund for Africa (SEFA) (https://bit.ly/39fnc7x) has announced a $1 million grant to support the government of Kenya to create a Super Energy Service Company (ESCO). The Super ESCO, to be run by the Kenya Power and Lighting Company, will develop and implement energy efficiency projects for both…

Source: African Development Bank Group (AfDB) | Sep 16, 2021

African Development Bank’s SEFA provides $1 million to kick off modernization of Africa’s Hydropower Fleet

The modernization of hydropower stations is an opportunity to increase generation capacity at low-cost, and with relatively short lead-times and minimal environmental impact

The Sustainable Energy Fund for Africa (SEFA) (https://bit.ly/3tZp0eB) has approved a $1 million grant for modernization of Africa’s aging hydropower fleet. The grant will fund the mapping and evaluation of African hydropower facilities’ rehabilitation needs. It will also support the preparation of modernization works for two pilot facilities to a…

Source: African Development Bank Group (AfDB) | Aug 15, 2021

African Development Bank COVID-19 Off-Grid Recovery Platform Reaches Financial Close for $20 Million SEFA Investment

The concessional loan agreements were signed with fund managers Lion’s Head Global Partners, Triple Jump, and Social Investment Managers and Advisors, following approval by the Board of Directors

The African Development Bank (www.AfDB.org/en) has reached financial close on financing agreements for a $20 million concessional investment from the Sustainable Energy Fund for Africa (SEFA) for the Covid-19 Off-Grid Recovery Platform (CRP). The 5-year, $50 million blended finance initiative is designed to provide relief and recovery capital to energy access…

Source: African Development Bank Group (AfDB) | Jul 23, 2021

African Development Bank Group, Ethiopia, sign $118 million in grant agreements to support agro industrial park, youth employment and Ethiopia-Djibouti power interconnection

The grant agreements were signed on 21 July 2021 by Ethiopian Finance Minister Ahmed Shide, and Kamara

The African Development Bank Group (www.AfDB.org) and the Government of Ethiopia have signed two separate grant agreements for new projects to boost youth employment and electricity trade between Ethiopia and Djibouti. The grants fall under the Bank Group’s concessional lending window, the African Development Fund, and will go towards the…

Source: African Development Bank Group (AfDB) | Jul 13, 2021

The Sustainable Energy Fund for Africa reports record number of transactions in 2020, secures $90 million in new funding

SEFA, managed by the African Development Bank, focuses on green baseload, green mini-grid, and energy efficiency investments

The Sustainable Energy Fund for Africa (SEFA) approved seven high-impact projects worth $54 million in 2020, its best year in spite of challenging Covid-19 conditions, according to its recently released 2020 Annual Report. SEFA (https://bit.ly/3hxDIEN), managed by the African Development Bank, focuses on green baseload, green mini-grid, and energy efficiency…

Source: African Development Bank Group (AfDB) | Jul 09, 2021

African Development Bank to provide €39 million loan package for Gabon’s first independent hydropower project

The project entails the design, construction, and operation of a 34.1-megawatt power plant with a net annual generation of 203-gigawatt hours

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a €39 million loan package for the construction of the Kinguélé Aval hydroelectric project in Gabon. The package comprises €20 million from the African Development Bank, €10 million from the Africa Growing Together Fund and €9 million…

Source: African Development Bank Group (AfDB) | Jul 09, 2021

African Development Bank Group’s $6 million grant kicks off Desert-to-Power West Africa Regional Energy Program

Desert to Power, an initiative led by the Bank, is expected to transform the Sahel by harnessing the region’s abundant solar potential

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $6 million grant to launch the initial phase of the Desert to Power West Africa Regional Energy Program. Desert to Power, an initiative led by the Bank, is expected to transform the Sahel by harnessing the…

Source: African Development Bank Group (AfDB) | Jul 08, 2021

African Development Fund extends $83.6 million in grants to boost Ethiopia-Djibouti electricity trade

The funds comprise a $69.65 million grant to Ethiopia and a second grant of $13.93 million to Djibouti, both sourced from the African Development Fund

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved two grants worth $83.6 million to boost cross-border trade in electricity between Ethiopia and Djibouti and to deepen integration in the Horn of Africa sub-region. The funds comprise a $69.65 million grant to Ethiopia and a second…

Source: African Development Bank Group (AfDB) | Jul 07, 2021

The Green Climate Fund approves $170.9m in co-financing for African Development Bank’s Leveraging Energy Access Finance Framework (LEAF) program

LEAF aims to unlock commercial and local-currency financing for decentralized renewable energy (DRE) projects in six program countries

The Board of the Green Climate Fund (GCF) (www.GreenClimate.Fund) has approved $170.9 million in financing for the African Development Bank’s (www.AfDB.org) Leveraging Energy Access Finance Framework (LEAF) program. LEAF aims to unlock commercial and local-currency financing for decentralized renewable energy (DRE) projects in six program countries: Ghana, Guinea, Ethiopia, Kenya, Nigeria…

Source: African Development Bank Group (AfDB) | Jul 01, 2021

Correction and reissue: Africa Renewable Energy Fund II secures €130 million first close with SEFA and CTF investments

See Editor’s note below

The Africa Renewable Energy Fund II has achieved its first close at €130 million, following a joint investment of €17.5 million from The Sustainable Energy Fund for Africa and the Climate Technology Fund through the African Development Bank (www.AfDB.org). AREF II, a successor to the original Fund, is a 10-year…

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