Africa50 commits $100 million to accelerate renewable energy deployment across Africa

The pan-African infrastructure investor and asset management Group, Africa50, has pledged to invest $100 million to fund and co-finance renewables-based energy transition projects and infrastructure across Africa.

According to a statement, the investment is a sequel to an agreement between Africa50 and the International Renewable Energy Agency (IRENA). It added that the investment would be channeled through IRENA’s Energy Transition Accelerator Financing (ETAF) platform.

The statement from IRENA further disclosed that the agreement was signed on Tuesday on the margins of the OPEC Fund Development Forum in Vienna by IRENA Director-General, Mr. Francesco La Camera and Africa50 CEO, Mr. Alain Ebobissé.