– AfDB Energy Initiatives
- – African Renewable Energy Projects
– Energy Access in Africa
The African Development Bank (AfDB) continues to emphasize its dedication to improving energy access across Africa. Recognizing that over 640 million Africans lack reliable electricity, the AfDB has launched several initiatives to address this pressing issue.
Key Initiatives:
– Leveraging Energy Access Finance Framework: In February 2022, the AfDB approved up to $164 million to promote decentralized renewable energy solutions in countries including Ghana, Guinea, Ethiopia, Kenya, Nigeria, and Tunisia.
– Sustainable Energy Fund for Africa (SEFA): Managed by the AfDB, SEFA provides catalytic finance to unlock private sector investments in renewable energy and energy efficiency. It offers technical assistance and concessional finance to remove market barriers and improve the risk-return profile of individual investments.
– Mission 300 Initiative: Launched in January 2025, this ambitious partnership aims to connect 300 million Africans to electricity by 2030. The initiative seeks to attract $90 billion in investments from various sources, with the World Bank planning to contribute $30-40 billion and the AfDB $10-15 billion. citeturn0news12AfDB President Akinwumi Adesina has consistently highlighted the continent’s rich energy mix and the need for investments in renewable energy to achieve universal energy access.
Through these initiatives, the AfDB aims to transform Africa’s energy landscape, ensuring that all Africans have access to affordable, reliable, and sustainable energy.
