The International Renewable Energy Agency (IRENA) has entered into a landmark collaborative partnership with Africa50, the pan-African infrastructure investor and asset management group.
As part of the agreement, Africa50 has pledged up to $100 million to fund and co-finance renewables-based energy transition projects and infrastructure across Africa through IRENA’s Energy Transition Accelerator Financing (ETAF) platform, reinforcing efforts towards sustainable development and climate action across the continent.
The agreement was signed on the margins of the OPEC Fund Development Forum in Vienna by IRENA Director-General Francesco La Camera, and Africa50’s CEO Alain Ebobissé.
Francesco La Camera Director-General IRENA
“For the first time in a decade, the most recent data show that the number of people without access to electricity has increased significantly. With Sub-Saharan Africa representing the majority of those impacted, we must be diligent and committed to urgently addressing this growing issue. Renewables represent the most effective, climate-safe solution available, and this partnership with Africa50 will be pivotal in strengthening the ETAF Platform’s impact across Africa.”
Alain Ebobissé, CEO of Africa50, said that, “The continent must focus on the dual goals of reducing emissions and accelerating economic development. Investing in and developing transformational renewable infrastructure is a critical step to achieving net-zero.”
Ebobissé added that, “The IRENA ETAF platform will be an important launchpad to scaling and accelerating our investments into renewable projects that will ultimately reduce the negative impact of climate change on our people and help build a more sustainable future.”
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