ISA in Exclusive Talks with Africa50 to Manage $200M Solar Facility in Africa

On Thursday, the International Solar Alliance (ISA) announced that it has entered into exclusive discussions with Africa50 to potentially serve as the investment manager for ISA’s proposed Africa Solar Facility (ASF). This move follows an expression of interest (EOI) process initiated by ISA to find a suitable manager for the ASF.

The announcement was made during the inaugural International Solar Festival 2024, organized by ISA. The event highlighted the role of solar power as a crucial solution for climate change and a sustainable path to a carbon-neutral future.

ISA Director General Ajay Mathur expressed enthusiasm about the partnership, noting that Africa50 will be an ideal collaborator for the ASF. The combination of Africa50's public sector resources and private sector investment capabilities is expected to effectively support ISA’s flagship private sector program, the Global Solar Facility.

The ASF is a $200 million initiative aimed at unlocking investment in distributed solar projects across Africa. By providing customized and cost-effective financing solutions, the ASF seeks to address investment gaps in a market where smaller projects and high perceived risks have historically limited clean energy investments. The facility is expected to enhance energy access, boost solar deployment, and promote sustainable development throughout the continent.