Source: African Development Bank Group (AfDB) |

COP26 Roundtable: ‘2021 will be critical in the fight against COVID-19 and climate change’ – UN Secretary-General António Guterres

COP26 President Sharma said the global transition to clean power must move at least four times the current pace to achieve targets set out in Paris Agreement on climate change

African Development Bank (www.AfDB.org) President Akinwumi Adesina on Monday joined world leaders to discuss the global transition to clean power as part of a green recovery and identify actions that can be taken to support this. The virtual COP26 Roundtable on Clean Power Transition, under the theme “Achieving a rapid shift…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

Sustainable Energy Fund for Africa and Clean Technology Fund provide $25 million in funding for medium scale independent power producers

SEFA’s contribution will comprise a package of $10 million in equity and a $5 million reimbursable grant

The African Development Bank’s (www.AfDB.org) Board of Directors on Monday 14 December 2020 approved $15 million from the Sustainable Energy Fund for Africa [SEFA (https://bit.ly/3r9hP1s)] and $10 million from the Clean Technology Fund (CTF) to advance African Renewable Energy Fund (AREF) II’s projects to boost low-carbon energy generation in sub-Saharan…

Source: African Development Bank Group (AfDB) |

African Development Bank approves $7 million in Sustainable Energy Fund for Africa (SEFA) technical assistance to transform mini-grid investment in Africa

Africa Mini-Grid Market Acceleration Programme (AMAP)’s overarching aim is to transform the scale of public and private investments in renewable energy mini-grids throughout Africa

The Board of Directors of the African Development Bank (www.AfDB.org) have approved a $7 million grant from the Sustainable Energy Fund for Africa (SEFA), for technical assistance in setting up a mini-grid acceleration initiative to meet the needs of the continent’s fast-evolving renewable mini-grid industry. The Africa Mini-Grid Market Acceleration…

Source: African Development Bank Group (AfDB) |

Local Currency Financing for Off-Grid Energy Solutions in Africa Limited, Needs Scaling Up - African Development Bank Report

Companies that invest in off-grid renewable energy solutions in Africa grapple with limited access to credit as a result of risk profiling

Although advantageous, local currency financing for off-grid renewables projects and businesses in Africa is still limited, according to a new report released by the African Development Bank (https://www.AfDB.org/). The report, Exploring the Role of Guarantee Products in Supporting Local Currency Financing of Sustainable Off-Grid Energy Projects in Africa, summarized findings…

Source: African Development Bank Group (AfDB) |

“It Brings Us Hope”: African Development Bank Leads Drive to Deliver Electricity to All

With other development finance institutions, the Bank plays a critical role in financing electricity projects

Kindergarten teacher Fatima Zahera Hagou recalls that just a generation ago, when the sun went down over the Moroccon countryside, her rural village of Dar Laain ground to a halt and locals bedded down for the night. Nowadays, Dar Laain, about 25km southwest of Marrakech, booms with life after dark,…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

African Development Bank Invests in Pioneering SPARK+ Africa Fund to Deliver Clean Cooking Solutions

The Bank’s investment, which will come from its Sustainable Energy Fund for Africa (SEFA), is expected to enable the participation of other interested investors

The African Development Bank’s (https://www.AfDB.org/) Board of Directors has approved a $5 million investment in the SPARK+ Africa Fund to deliver clean cooking solutions to over two million households across Africa. The European Commission will contribute an additional €10 million. The Bank’s investment, which will come from its Sustainable Energy…

Source: African Development Bank Group (AfDB) |

Tanzania: African Development Bank approves $120 million loan to build Malagarasi Hydropower Project

The hydropower plant’s expected average annual output of 181 GWh will meet the electricity needs of as many as 133,649 Kigoma households

The Board of Directors of the African Development Bank (https://www.AfDB.org/) have approved a $120 million loan to fund the construction of a 50 MW hydropower plant in Western Tanzania that will provide reliable renewable energy to households, schools, clinics and small and medium-sized enterprises in the Kigoma Region. The Malagarasi…

Source: African Development Bank Group (AfDB) |

Our journey to electrify the continent: Five years of the New Deal on Energy for Africa (By Dr. Kevin Kariuki)

The NDEA called for a substantial increase in investments to realize the Bank’s High 5 priority to “Light Up and Power Africa”

By Dr. Kevin Kariuki Five years into the African Development Bank’s (https://www.AfDB.org/) ambitious New Deal on Energy for Africa (NDEA), the Bank’s investments are set to provide electricity access to around 13 million people and deliver about 55,000 km of distribution lines, and 6,700 km of transmission lines, of which…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

Infrastructure Fund Africa50 helps Egypt’s Solar Power Sector take off

Africa50 is an independent infrastructure fund, focused on high-impact projects mostly in the energy and transport sectors

A 37-square-kilometer solar park so large that it can be seen from space, with over seven million photovoltaic panels, and funding of $4 billion. In Africa? Impossible? Not anymore. Thirty international infrastructure developers got behind this project, investing in Egypt’s massive Benban solar park, which will be the largest in…

Source: African Development Bank Group (AfDB) |

Egypt: African Development Bank approves 225 million euros budget support loan for electricity sector to bolster economic resilience and sustainability amid COVID-19

The funding, provided in a challenging global context, will help meet the Government of Egypt’s financing requirements in the light of the COVID-19 pandemic

The Board of Directors of the African Development Bank (https://www.AfDB.org/) on Wednesday approved a 225 million euros loan to finance Egypt’s Electricity and Green Growth Support Program (EGGSP). The funding, provided in a challenging global context, will help meet the Government of Egypt’s financing requirements in the light of the…