The Sustainable Energy Fund for Africa (SEFA) (www.AfDB.org), a multi-donor special fund managed by the African Development Bank Group, has secured new investment commitments totaling nearly €50 million to strengthen the deployment of Mission 300 (https://apo-opa.co/48qxL74) and accelerate climate action across Africa’s power sector.
This commitment by the German and Italian governments was announced at a COP30 side event held at the Africa Pavilion on 14 November. Germany has committed €14 million to support SEFA’s Universal Energy Access Goal and €30 million to the new SEFA Green Hydrogen Program, reflecting the strategic importance of this emerging sector for Africa’s decarbonization and industrial development. Italy also announced a new contribution of 5 million euros to the fund.
Dr Katharina Stasz, Director of Climate Policy at the Federal Ministry for Economic Co-operation and Development (BMZ), said: “We believe that the African-owned and African-led African Development Bank is an excellent partner to unlock the potential of a green hydrogen economy for African countries.
“By working together, we can create a ‘win-win’. Partner countries will benefit from new energy resources, industrial development, technology transfer and new jobs, while Europe will diversify its future energy imports. Through our partnership with the African Development Bank and SEFA, we hope to create a positive turning point in the launch of the green hydrogen market.”
Roberto Amerise, Director of Administration, Financial Planning and International Cooperation at the Italian Ministry of Environment and Energy Security (MASE), emphasized the Italian government’s strong commitment to Africa, which is considered a priority for the country’s energy and climate policy. He stressed the importance of encouraging private investment to accelerate the continent’s energy transition and sustainable development. Amerize also announced a new contribution of €5 million to the SEFA Special Fund for 2025.
“These resources reaffirm our joint commitment to accelerate the implementation of renewable energy and energy access projects in Africa that advance SEFA’s strategic objectives and promote sustainable development,” he said. »
Commenting on the new commitments, Dr. Kevin Kariuki, AfDB’s Deputy Director for Power, Energy, Climate Change and Green Growth, said: “Today’s deliberations and commitments at COP30 powerfully reaffirm the urgent need for a unified and bolder approach to Africa’s energy transition, resilience and security.” Germany and Italy’s new commitments will support the goals of Mission 300 and cement SEFA’s centrality in Africa’s universal energy access journey. ”
The event, moderated by Dr. Daniel Schloss, Director of Renewable Energy and Energy Efficiency at the Bank, also recognized the continued support from partners such as Norway, where Special Envoy for Climate Hans-Olav Ibrek reiterated the country’s commitment to mobilizing private sector investment for the success of Mission 300.
A central theme of the event was the important role of blended finance in de-risking investments and attracting commercial capital to achieve the M300 targets. Participants learned about projects such as Egypt’s ground-breaking obelisk facility, a 1GW solar PV and 200MWh battery energy storage system (BESS) co-financed by AfDB and SEFA, with insights shared by Terje Pilskog, CEO of Scatec.
The discussion also highlighted the impactful work of BURN, a successful African clean cooking company and SEFA grant recipient. Caroline Amollo, Director of Corporate Affairs at BURN, demonstrated through proven market operations how the innovative model is effectively driving affordability and adoption.
Speakers emphasized the importance of a predictable and attractive regulatory framework to attract private capital for a just and equitable energy transition, with a particular focus on profitable, scalable, and human-centered projects in clean cooking. They also emphasized the need to take advantage of falling renewable energy costs through efficient allocation of development funds. The event strengthened our collective resolve to integrate energy transition cooperation within broader climate diplomacy and demonstrated that with concerted efforts, the M300 goals and broader climate ambitions expressed at COP30 are achievable.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
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