By: Energy capital & power

Pan-African infrastructure investor and asset manager Africa50 has signed a term sheet with the International Solar Alliance (ISA) to manage and implement the $200-million Africa Solar Facility (ASF).

Launched by ISA, the ASF is designed to address financing barriers in Africa’s distributed renewable energy sector. It provides tailored solutions to mobilize investments in historically underserved projects and marks the first regional initiative under ISA’s Global Solar Facility. The program aims to accelerate the deployment of distributed solar energy solutions across the continent.

“Leveraging our expertise in project development and project finance in Africa, we will drive the objectives of this facility and ultimately support the continent’s energy transition goals,” said Alain Ebobissé, CEO of Africa50.

“Only 3% of global solar investment is reaching Africa. The percentage is even smaller for Decentralized Renewable Energy (DRE). The Africa Solar Facility payment guarantee will provide confidence to investors so they can invest in DRE applications in the continent,” said Dr. Ajay Mathur, Director General of ISA.