The International Solar Alliance and Africa50 are in discussions to manage the Africa Solar Facility, a key initiative aimed at accelerating solar energy projects and providing affordable clean electricity to 600 million people in Africa.
The International Solar Alliance (ISA) has entered exclusive talks with Africa50 to potentially appoint it as the investment manager for the Africa Solar Facility (ASF). The decision was made following a public Expression of Interest (EOI) process conducted by the ISA to find a suitable partner to manage the ASF. The announcement was made during the inaugural International Solar Festival 2024.
Dr. Ajay Mathur, Director General of ISA, expressed his optimism about the collaboration, emphasizing Africa50’s unique ability to merge public sector resources with private sector efficiency. The ASF, a $200 million initiative, aims to increase investment in solar projects across Africa, addressing the energy needs of 600 million people. It will offer affordable financing solutions, targeting an underserved market where smaller solar projects have struggled to attract investment.
Africa50, a major infrastructure investor with over $8 billion in assets, is supported by 32 African nations and several financial institutions. If discussions conclude successfully, Africa50 will manage the ASF, which is part of ISA’s Global Solar Facility (GSF). The GSF is a key initiative aimed at expanding solar energy projects and advancing sustainable energy solutions for ISA’s 119 member countries.