Manish Shukla
In a significant move to accelerate solar energy deployment in Africa, the International Solar Alliance (ISA) has entered into exclusive discussions with Africa50 to manage its proposed Africa Solar Facility (ASF). The $200 million initiative aims to unlock investment in distributed solar projects across the continent.
Announced on the sidelines of the first International Solar Festival 2024, the partnership brings together ISA’s global expertise in solar energy with Africa50’s pan-African infrastructure investment and asset management capabilities.
ISA Director General Dr. Ajay Mathur hailed the partnership as a “milestone” in the organization’s mission to promote solar power as a key climate solution.
“We are partnering with Africa50 to implement the first regional fund in Africa under the umbrella of ISA’s flagship private sector program, the Global Solar Facility. I believe Africa50 will be an ideal partner for ISA’s Africa Solar Facility, as it brings together the best of both the public and private sectors – combining public sector reach and resources with the private sector’s agility and investment capabilities. We hope to build the facility together with Africa50 and help provide clean electricity to 600 million people in Africa.” said Dr.Ajay Mathur.
The International Solar Alliance (ISA) is a worldwide intergovernmental organization committed to promoting the adoption of solar power as a key strategy for achieving a carbon-neutral future, and ultimately, mitigating climate change.
The ASF aims to bridge the financing gap for smaller solar projects in Africa, where high perceived risks have hindered investment despite the critical need for clean energy. By offering tailored financing solutions, the facility seeks to expand energy access, accelerate solar deployment, and drive sustainable development across the continent.
Africa50’s portfolio exceeds $8 billion, with a strong track record of project development and implementation. Its convening power and expertise make it a distinguished partner for this effort.
The partnership is subject to successful discussions and formalization of necessary arrangements. If concluded, Africa50 will be appointed as ASF’s investment manager, marking the first regional initiative under ISA’s broader Global Solar Facility.
The collaboration underscores the shared mission of ISA and Africa50 to accelerate clean energy deployment in Africa, promoting sustainable development and energy access for millions.