$100 million partnership between Africa50 and IRENA for renewable energies

Africa50 and the International Renewable Energy Agency (IRENA) have entered into a $100 million partnership to finance renewable energy projects in Africa.
Financement énergétique durable Afrique

Partagez:

Africa50 joins 13 other investors in IRENA’s Energy Transition Accelerator Financing (ETAF). This partnership, signed by Alain Ebobissé and Francesco La Camera, aims to support clean energy infrastructures in Africa, notably through a $100 million financing package. Renewable infrastructure projects are proliferating in Africa, as in the case ofAMEA Power, which has opted for solar power in South Africa.

A Commitment to Energy Transition

Africa50, a pan-African investment platform, joinsIRENA‘s Energy Transition Accelerator Financing (ETAF), an initiative supported by various investors. This partnership, formalized on the sidelines of the OPEC Fund for International Development (OFID) Development Forum in Vienna, marks a turning point in the financing of renewable energies in Africa.
The $100 million committed by Africa50 will be used to finance and co-finance energy transition and renewable energy infrastructure projects across Africa. Launched three years ago with the support of the United Arab Emirates, the ETAF platform aims to implement the Nationally Determined Contributions (NDCs) of developing countries, by deploying clean energy solutions.

Sustainable Development Goals and Emission Reductions

The main aim of this partnership is twofold: to reduce carbon emissions and accelerate economic development on the African continent. After signing the agreement, Alain Ebobissé stressed the importance of this initiative in achieving carbon neutrality and creating a more sustainable future for Africa.
In addition to Africa50, the ETAF platform is supported by a number of donors and international financial institutions, including OFID, the Abu Dhabi Fund for Development (ADFD), the Inter-American Development Bank (IDB), the European Bank for Reconstruction and Development (EBRD), the Emirates Development Bank (EDB), the Asian Infrastructure Investment Bank (AIIB) and the International Finance Corporation (IFC), the private sector arm of the World Bank Group. Among the energy producers involved, Masdar of the United Arab Emirates also plays a crucial role.

Future prospects and challenges

Africa50’s commitment to the ETAF platform represents a significant step forward for the financing of sustainable energy projects in Africa. Investment in renewable infrastructure is essential to meet the continent’s growing energy needs, while respecting global environmental objectives.
The future of renewable energies in Africa depends on the continued mobilization of funds and partnerships like this one. The support of international institutions and private investors is crucial to ensure the success of these projects and to promote long-term sustainable development.

The French National Assembly approves a specific target of 200 TWh renewable electricity production by 2030 within a legislative text extensively debated about the future national energy mix.
In 2024, US CO₂ emissions remain stable at 5.1bn tonnes, as the Trump administration prepares hydrocarbon-friendly energy policies, raising questions about the future evolution of the American market.
The early publication of France's energy decree triggers strong parliamentary reactions, as the government aims to rapidly secure investments in nuclear and other energy sectors.
Seven weeks after the major Iberian power outage, Spain identifies technical network failures, while the European Investment Bank approves major funding to strengthen the interconnection with France.
The European Union has announced a detailed schedule aiming to definitively halt Russian gas imports by the end of 2027, anticipating internal legal and commercial challenges to overcome.
Madagascar plans the imminent opening of a 105 MW thermal power plant to swiftly stabilise its electricity grid, severely affected in major urban areas, while simultaneously developing renewable energy projects.
India's Central Electricity Regulatory Commission proposes a new financial instrument enabling industrial companies to meet renewable energy targets through virtual contracts, without physical electricity delivery, thus facilitating compliance management.
Minister Marc Ferracci confirms the imminent publication of the energy programming decree, without waiting for the conclusion of parliamentary debates, including a substantial increase in Energy Efficiency Certificates.
At a conference held on June 11, Brussels reaffirmed its goal to reduce energy costs for households and businesses by relying on targeted investments and greater consumer involvement.
The European Commission held a high-level dialogue to identify administrative obstacles delaying renewable energy and energy infrastructure projects across the European Union.
Despite increased generation capacity and lower tariffs, Liberia continues to rely on electricity imports to meet growing demand, particularly during the dry season.
South Korea's new president, Lee Jae-myung, is reviewing the national energy policy, aiming to rebalance nuclear regulations without immediately shutting down reactors currently in operation.
The French Energy Regulatory Commission released its 2024 annual report, highlighting sustained activity on grid infrastructure, pricing, and evolving European regulatory frameworks.
The United States is easing proposed penalties for foreign LNG tankers and vehicle carriers, sharply reducing initial costs for international operators while maintaining strategic support objectives for the American merchant marine.
While capital is flowing into clean technologies globally, Africa remains marginalised, receiving only a fraction of the expected flows, according to the International Energy Agency.
The Mexican government aims to mobilise up to $9bn in private investment by 2030, but the lack of a clear commercial framework raises doubts within the industry.
The U.S. Department of Transportation is withdrawing strict fuel economy standards adopted under Biden, citing overreach in legal authority regarding the integration of electric vehicles into regulatory calculations for automakers.
In 2024, renewable energies covered 33.9% of electricity consumption in metropolitan France, driven by increased hydropower output and solar capacity expansion.
The French Energy Regulatory Commission (CRE) has announced its strategic guidelines for 2030, focusing on the energy transition, European competitiveness and consumer needs.
Madrid paid an arbitration award to Blasket Renewable Investments after more than ten years of litigation related to the withdrawal of tax advantages for renewable energy investors.