- The International Solar Alliance (ISA) and Africa50 have signed a term sheet laying out the key terms on which Africa50, the pan-African infrastructure investor and asset manager, will manage and implement the Africa Solar Facility (ASF).
This milestone follows exclusive discussions between the two organizations after the announcement at the International Solar Festival in September 2024, where ISA identified Africa50 as the potential Investment Manager for the ASF.
The ASF, targeted at $200 million, is being launched by ISA to provide tailor-made and cost-effective financing solutions to unlock and mobilize investments in distributed renewable energy projects in Africa. This sector has been historically underserved due to small ticket sizes and high perceived risk, despite being critical to accelerating timely access to clean energy for millions. The ASF aims to bridge this gap by mobilizing investments and unlocking the full potential of distributed renewable energy solutions in Africa.
Signing on behalf of Africa50, CEO, Alain Ebobissé said, “We appreciate the trust the International Solar Alliance has shown in Africa50 to manage this important facility. Leveraging our expertise in project development and Project Finance in Africa, we will drive the objectives of this facility, and ultimately support the continent’s energy transition goals. This partnership also underscores the objectives of this year’s Africa Investment Forum of leveraging innovative partnerships to scale critical infrastructure for our continent’s growth”.
The ASF is the first regional facility under the umbrella of ISA’s Global Solar Facility (GSF) which is aimed at providing financing to help accelerate deployment of distributed solar projects across regions.
Author: Bryan Groenendaal
