The Africa50 investment platform has signed a partnership agreement with the International Solar Alliance (ISA). The aim is to draw on their experience to mobilise funding for the deployment of solar energy production infrastructure in Africa.
A new partnership is being set up to develop solar energy production infrastructure. It is an initiative of the Africa50 investment platform and the International Solar Alliance (ISA), an international organisation based in Gurgaon, India. The partnership was signed at the Infra for Africa forum and Africa50’s General Meeting of Shareholders in Lomé, Togo.
“This partnership advances the two organisations’ shared goal of increasing the deployment of solar energy to improve energy access, ensure energy security and drive the energy transition worldwide,” says Africa50. The infrastructure investment platform created by African governments and the African Development Bank (AfDB) is one of the major players in the solar industry in Africa.
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The financial institution headed by Alain Ebobissé has participated in the development of six solar photovoltaic plants with a combined capacity of 400 MWp in the Benban solar complex in Egypt, alongside the Norwegian Investment Fund for Developing Countries (NORFUND) and independent power producer (IPP) Scatec. “ISA and its network represent a wealth of knowledge and connectivity in the solar space from which the African continent can benefit. We are delighted to be working with ASI to identify, finance and develop bankable solar projects in Africa that will support the continent’s transition to carbon neutrality,” says Alain Ebobissé, Africa50’s CEO.
As part of this partnership, the two organisations will engage in mutual capacity building. Africa50 and ISA will seek to leverage their respective networks to mobilise funds and raise awareness of African solar projects in the European and Indian markets. “Together, we hope to work on providing technical expertise to facilitate the development and execution of solar projects in African nations,” says Ajay Mathur, ISA’s chief executive.
Jean Marie Takouleu
