Europe has committed \u20ac15.5 billion to fast-track renewable energy development across Africa, marking a significant boost for the continent\u2019s clean-energy ambitions.<\/p>\n
The announcement came at the conclusion of a year-long international campaign led by the European Commission and South African President Cyril Ramaphosa.<\/p>\n
The initiative, known as the \u201cScaling up Renewables in Africa\u201d campaign, aims to expand electricity access, enhance clean-energy generation, and drive sustainable economic growth across the continent.<\/p>\n
According to a statement from the EU Delegation in Abuja, more than \u20ac15.1 billion of the total pledge came from European sources, including \u20ac10 billion from the Team Europe package led by President Ursula von der Leyen. Additional funding comes from European financial institutions, member states, and development finance organizations, alongside private sector investment.<\/p>\n
\u201cToday, the world has stepped up for Africa. With \u20ac15.5 billion, we are turbocharging Africa\u2019s clean-energy transition,\u201d von der Leyen said. \u201cMillions more people could gain access to electricity \u2014 real, life-changing power for families, businesses, and entire communities. This investment creates thriving markets, new jobs, and reliable, clean energy that meets global needs.\u201d<\/p>\n
The Team Europe package encompasses projects co-financed by Germany, France, Denmark, Italy, the Netherlands, and Spain, as well as contributions from the European Investment Bank (\u20ac2.1 billion) and the European Bank for Reconstruction and Development (\u20ac740 million). Additional bilateral commitments from European nations, including Italy (\u20ac2.4 billion), Germany (\u20ac2 billion), the Netherlands (\u20ac250 million), Portugal (\u20ac113 million), Denmark (\u20ac81 million), Sweden (\u20ac44 million), Austria (\u20ac5 million), and Ireland (\u20ac5 million), brought total European pledges to over \u20ac15 billion.<\/p>\n
Beyond European contributions, the African Development Bank pledged to allocate at least 20 percent of the African Development Fund\u2019s 17th replenishment to renewable energy, while Norway committed approximately \u20ac53 million for 2026\u20132028.<\/p>\n
Campaign organizers estimate that the pledged funding will deliver 26.8 gigawatts of renewable-energy capacity and provide clean electricity to 17.5 million households currently without reliable power.<\/p>\n
Launched in November 2024 in Rio de Janeiro, the campaign aligns with COP28 goals to triple global renewable energy capacity and double energy-efficiency improvements. Africa continues to face significant energy deficits, with 600 million people lacking electricity. Despite holding 60 percent of the world\u2019s top solar resources, the continent attracts just 2 percent of global energy investment due to high capital costs, geographic constraints, and supply-chain challenges.<\/p>\n
Through the Global Gateway Strategy and the Africa\u2013Europe Green Energy Initiative, the EU has reaffirmed its long-term commitment to expanding renewable generation, strengthening electricity transmission, and boosting cross-border energy trade across Africa.<\/p>\n","protected":false},"excerpt":{"rendered":"
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