RABAT, Morocco, Dec 5 – The International Solar Alliance (ISA) and Africa50 have signed a landmark agreement for Africa50 to manage and implement the Africa Solar Facility (ASF), a $200 million initiative aimed at accelerating investments in distributed renewable energy (DRE) projects across Africa.
The signing took place on the sidelines of the Africa Investment Forum Market Days in Rabat, Morocco, marking a significant step toward addressing Africa’s clean energy needs.
The ASF is designed to unlock financing for underserved renewable energy projects, targeting small-scale initiatives often overlooked due to high perceived risks and limited ticket sizes. The facility aims to expand access to clean energy for millions, bridging the financing gap in DRE solutions critical to the continent’s energy transition.
Africa50 CEO Alain Ebobissé expressed commitment to advancing the facility’s goals. “Leveraging our expertise in project development and financing, we aim to drive the ASF’s objectives, aligning with Africa’s energy transition aspirations. This partnership exemplifies the innovative collaborations needed to scale vital infrastructure for growth,” Ebobissé stated.
The ASF is the first regional initiative under ISA’s Global Solar Facility (GSF), focused on accelerating solar deployment globally. ISA Director General Dr. Ajay Mathur emphasized the importance of the facility, highlighting that only 3% of global solar investment reaches Africa, with an even smaller share for DRE projects.
“The ASF payment guarantee will instill confidence among investors, unlocking the potential for DRE applications across Africa,” Mathur noted.
This partnership marks a milestone in mobilizing resources for renewable energy in Africa, supporting the continent’s journey toward a sustainable energy future.
