A solar installation worth 200 million dollars will be implemented in Africa with the goal of accelerating the use of renewable energy across the continent.
The project, called the Africa Solar Facility (ASF), is designed to address financing barriers in the renewable energy sector, especially in historically underserved areas.
This facility will mark a significant step forward in expanding distributed solar energy solutions across various African regions, aligning with the continent's energy transition goals.
The management and implementation of this fund will be the responsibility of Africa50, a pan-African infrastructure investment platform, which has partnered with the International Solar Alliance (ISA) to lead the project.
Africa50's expertise in developing and financing projects will be crucial to ensuring the initiative's success, as stated by Alain Ebobissé, CEO of Africa50, highlighting the organization's role in supporting Africa's energy transition objectives.
The Africa Solar Facility (ASF) was launched by ISA as the first regional initiative within the organization's Global Solar Mechanism. The ASF aims to attract investment for distributed solar energy projects by providing financial solutions tailored to local needs.
According to Ajay Mathur, Director General of ISA, only 3% of global solar investment reaches Africa, with even less allocated to Decentralized Renewable Energy (DRE) projects. The ASF aims to boost investor confidence and promote the expansion of these solutions across the continent.
(By Renaldo Manhice)
