Accra: The United Nations (UN) is working in conjunction with the International Solar Alliance (ISA) to provide Africa with essential technical and financial support aimed at accelerating the development of renewable energy across the continent. This partnership is intended to bolster efforts toward achieving the World Bank’s Mission 300, which aims to stimulate decisive action and promote sustainable energy solutions in Africa by 2030.
According to Ghana News Agency, Mission 300 is backed by US$48 billion in concessional funding and exemplifies the potential of public-private partnerships to electrify 300 million Africans. Ms. Damilola Ogunbiyi, the Chief Executive Officer and Special Representative of the UN Secretary-General for Sustainable Energy for All, highlighted this during the Seventh Meeting of the ISA Regional Committee for the Africa Region in Accra. The three-day event focuses on showcasing Africa’s decentralized solar opportunities amidst the challenges of underinvestment and energy shortages.
Ms. Ogunbiyi emphasized the Mission as a distinctive initiative that unites African governments, the private sector, and development partners to deliver affordable electricity, enhance utility efficiency, and broaden electricity access. She stressed the importance of serious implementation to attract private investment and improve regional energy integration, which could drive economic transformation. As Co-Chair of UN Energy, she noted that renewable energy, particularly solar, provides the quickest and most cost-effective means to reach underserved communities.
The International Solar Alliance has noted that Africa is at a crossroads of immense renewable energy potential and pressing development needs. Despite having some of the world’s richest solar resources, Africa garners less than three percent of global solar investments, a chronic underinvestment that hampers electrification efforts. This has resulted in over 600 million people on the continent lacking access to electricity, threatening the achievement of Sustainable Development Goal (SDG) Seven, which calls for universal energy access by 2030.
Mr. Ashish Khanna, the Director General of ISA, pointed out that with rising fossil fuel costs and growing geopolitical instability, solar energy is now considered not only an environmental necessity but also a strategic economic priority. He revealed that Africa has been selected as the launch region for the Global Solar Facility’s first regional investment. The Africa Solar Facility (ASF), with a target of US$200 million, is being introduced to provide flexible, cost-effective, and impactful financial solutions to stimulate solar projects across the continent. The ISA has appointed Africa50, co-owned by 32 countries, as its investment manager for the ASF.
Mr. Seth Terkper, Ghana’s former Minister of Finance and Economic Planning, encouraged participants to focus on practical solutions related to financing, skills development, digital innovation, and integrating artificial intelligence into energy systems. He underscored the need for continued efforts to bridge the energy investment gap, noting that Africa currently requires approximately US$90 billion annually to achieve universal energy access by 2030.
The meeting, themed ‘Catalysing Solar Investments and Institutional Capacity Across the Continent,’ aimed to foster strong political and investor consensus around the Africa Solar Facility, facilitate idea exchange, networking, and contribute to the advancement of solar energy. Founded by India and France, ISA is a global platform promoting solar energy to enhance energy access and security, with a mission to mobilize US$1 trillion in solar investments by 2030.
