Africa50 signs MoU with ISA to source and finance solar projects across Africa

Africa50 and the International Solar Alliance (ISA) have signed a memorandum of understanding (MoU) to support and finance solar projects in Africa.

This partnership advances the organisations’ mutual goal of increasing the deployment of solar, to improve energy access, ensure energy security, and drive the energy transition around the world. The two organisations will also engage in mutual capacity building and seek to leverage each other’s networks to mobilise funding and raise awareness of African solar projects in European and Indian markets. Africa50 works with African governments and project sponsors to develop bankable projects that can be financed by the private sector and invest equity in infrastructure projects. In addition to strengthening capacity, synergising policy change and promoting investments in solar capacity amongst its member countries, ISA is initiating a solar finance facility to mitigate investment risk and a SolarX Startup Challenge to identify and support innovative solar projects for investment.