The African Development Bank’s Sustainable Energy Fund for Africa (SEFA) will receive a cash injection of $134.5 million from the German government. This is to affirm the government’s commitment to efforts to tap Africa’s renewable energy potential and drive its transition to clean energy sources. The funding will go to unlock private sector investment in green-baseload projects, a SEFA priority focus. Specifically, it will support technical assistance and investment in power generation, transmission, and distribution to increase penetration of renewable power in African grids. The funding follows Germany’s initial contribution to SEFA of $67 million, made in 2020. SEFA targets a $500 million capitalizations.
Source : Esi Africa
