Africa50 and ISA for African solar power
Africa50 and ISA signed a Memorandum of Understanding to increase deployment of solar power in Africa.
Image for illustration purposes.
Togo, Lomé: Africa50 and ISA signed a Memorandum of Understanding to increase deployment of solar power in Africa.
The pan-African infrastructure investment platform Africa50 and the solar power alliance International Solar Alliance (ISA) signed a Memorandum of Understanding (MoU) to support and finance solar projects in Africa.
According to a statement from both companies, the partnership “will advance both organizations’ mutual goal of increasing the deployment of solar, to improve energy access, ensure energy security, and drive the energy transition around the world.”
Africa50 is a pan-African infrastructure investment platform that works with African governments and private sponsors to develop projects and invests equity in viable infrastructure projects. It is a key investor in both conventional and clean energy infrastructure across the continent.
The company recently invested in the 400 MW Benban Solar Plant in Egypt which currently provides clean energy to about 1.5 M people.
ISA works with governments to accelerate the deployment of solar solutions. Its mission is to unlock $1 trillion of solar investments by 2030 while also reducing costs.
Alain Ebobissé, Africa50’s CEO, stated that Africa50 is “excited to work with ISA to identify, fund, and develop bankable solar projects in Africa which will support the continent’s transition to Net-zero.”
Dr. Ajay Mathur, Director General of International Solar Alliance, noted that both organizations will work together on the “joint mobilization of funds to co-finance solar initiatives within the region, leveraging ISA’s extensive network of member countries and partners, and Africa50’s access to robust capital markets.”
Source: Energy&Utilities
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