Europe Supports Africa’s Clean Energy Future With €15.5bn Investment Drive
As Africa stands at a critical juncture, its population rising, its economies expanding, and its energy needs surging, the world is increasingly recognising that the continent’s clean energy transition is not just a regional challenge but a global opportunity.
That momentum was unmistakably evident this week as Europe led a historic funding campaign to support Africa’s shift towards renewable energy.
Europe has mobilised an impressive €15.5 billion to accelerate clean energy access across Africa, following a year-long campaign co-chaired by European Commission President Ursula von der Leyen and South African President Cyril Ramaphosa.
The European Union emerged as the driving force behind the pledging effort, contributing over €15.1 billion, including more than €10 billion pledged by President von der Leyen on behalf of Team Europe.
Additional contributions came from EU Member States, European financial institutions, and estimated private investments.
President von der Leyen hailed the outcome as a transformative milestone for the continent.
“Today, the world has stepped up for Africa. With €15.5 billion, we are turbocharging Africa’s clean-energy transition, real, life-changing power for families, businesses and communities,” she said, noting that the investment would unlock new jobs, thriving markets, and reliable clean energy.
She reaffirmed Europe’s commitment to supporting an Africa-led clean energy future.
The funds raised through a campaign organised with Global Citizen and backed by policy support from the International Energy Agency will help expand renewable energy generation, boost electricity access, and promote sustainable industrialisation across Africa.
Team Europe’s package includes major Global Gateway projects and joint financing involving Germany, France, Denmark, Italy, the Netherlands, Spain, the European Investment Bank, and the European Bank for Reconstruction and Development.
Individually, several European countries also made substantial bilateral commitments worth over €5 billion.
Beyond financing, the campaign secured commitments to generate 26.8 GW of new renewable energy and deliver electricity to 17.5 million households currently lacking reliable access to electricity. to electricity
The African Development Bank also pledged to channel at least 20% of its next African Development Fund replenishment to renewable energy. At the same time, Norway committed approximately €53 million via its contribution to the Fund between 2026 and 2028.
Launched in November 2024, the “Scaling up Renewables in Africa” campaign sought to drive both policy action and investment to help Africa meet global renewable energy targets, including those set during COP28.
With 600 million Africans still without electricity, and the continent attracting only 2% of global energy investments, Europe’s financial commitment marks a decisive step towards bridging the gap.
Through its Global Gateway strategy and the Africa-Europe Green Energy Initiative, the EU says it will continue to invest in renewable generation, transmission, and cross-border power trade to support Africa’s long-term clean energy ambitions.
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