AfDB, ISA Boost Africa’s Solar Development

AfdbAfrican Development Headquarter, Abidjan, Ivory Coast.
  • AfDB, ISA Boost Africa’s Solar Development

In a major boost for its Light Up and Power Africa initiative, the African Development Bank has entered into partnership with the International Solar Alliance to scale up solar energy in Africa.

The bank and ISA will jointly support technical assistance and knowledge transfer for solar development and deployment in sun-shine rich African countries.

Both parties will also develop finance instruments for off-grid solar projects, as well as large-scale solar independent power producers for African ISA member-countries, according to a statement by the AfDB.

As part of the new agreement, the ISA will support the African Development Bank’s Desert to Powersolar initiative –through which the bank intends to turn Africa’s deserts into new sources of energy.

Working with partners to develop 10,000 megawatts of solar power systems across the Sahel, the initiative is expected to provide electricity to 250 million people, with 90 million of these being on off-grid systems.

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Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years experience as a foreign exchange research analyst and trader.

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