The European Union (EU) and its international partners have pledged €15.5 billion to help Africa transition to clean energy, increase electricity access, and support economic growth.
The initiative was announced in Abuja by European Commission President Ursula von der Leyen and South African President Cyril Ramaphosa. It aims to attract both public and private investments across the continent. The campaign is supported by Global Citizen and the International Energy Agency.
“Today, the world has stepped up for Africa. With €15.5 billion, we are speeding up Africa’s clean-energy transition. Millions more people could gain access to electricity, which will change the lives of families, businesses, and communities,” President von der Leyen said.
She added, “This investment brings new opportunities, jobs, and reliable clean energy. President Ramaphosa and I look forward to a clean-energy future for Africa, led by Africa, with strong support from Europe.”
The funding comes from the European Investment Bank, the European Bank for Reconstruction and Development, several EU countries, the African Development Bank, and Norway.
The program is expected to generate 26.8 GW of renewable energy and provide electricity to 17.5 million households that currently have no access.