BY SAMUEL NABWIISO
In a major boost for its Light up and power Africa
initiative, the African Development Bank has entered into partnership with the
International Solar Alliance (ISA) to scale up solar energy in Africa.
The Bank and ISA will jointly support technical assistance
and knowledge transfer for solar development and deployment in sun-shine rich
African countries. Both parties will also develop finance instruments for
off-grid solar projects, as well as large-scale solar independent power
producers for African ISA member countries.
As part of the new agreement, ISA will support the African
Development Bank’s Desert to Power solar initiative –through which the Bank
intends to turn Africa's deserts into new sources of energy. Working with
partners to develop 10,000 MW of solar power systems across the Sahel, the
initiative is expected to provide electricity to 250 million people, with 90
million of these being on off-grid systems.
Under the deal Between the Bank and ISA it will enable more African states to have access to Solar energy |
The partnership agreement was sealed on the margins of the
Founding Conference of the International Solar Alliance (ISA) held in New Delhi
India recently. The Conference was co-chaired by Prime Minister Narendra Modi
of India and President Emmanuel Macron of France.
“This signing is an important milestone for the Bank in its
efforts to lead the continent’s transformation towards sustainable energy,
through the use of solar technologies, and in its bid to reach universal access
to energy in Africa,” said Amadou Hott, Vice President, Power, Energy, Climate
and Green Growth at the African Development Bank.
Amadou Hott who signed the deal on behalf of African Development Bank |
In his opening remarks at the Conference, President Macron
identified the three top priorities of ISA as the identification of solar
projects, mobilization of public and private finance at scale with a focus on
guarantee instruments, and transfer of innovative technology solutions and
capacity building.
Prime Minister Modi underscored the need to ensure that
better and affordable solar technology is available and accessible to everyone.
The joint declaration recognizes the Bank’s New Deal on
Energy for Africa, its energy policy and its leadership in working with
governments, the private sector, and bilateral and multilateral energy sector
initiatives to develop a Transformative Partnership on Energy for Africa.
The declaration lays out areas of deeper cooperation between
ISA and the Bank, including developing innovative financial instruments to
reduce risks and costs associated with solar investments and to leverage climate
financing and commercial co-financing and mobilizing concessional financing
through the Sustainable Energy Fund for Africa (SEFA) and other Bank-hosted
funds.
About 50 countries were represented by heads of
state/government and ministers including 11 African Presidents and several
African prime ministers, who were joined by solar manufacturers, developers,
financial institutions, green funds, innovators, start-ups and NGOs.
The International Solar Alliance initiative was launched at
the UN Climate Change Conference in Paris in November 2015 by Prime Minister
Narendra Modi and former French President Francois Hollande.
The Alliance is a collaborative platform and a coalition of
solar resource rich countries designed to address their special energy needs
through a common and agreed approach. 32 of the 60-member countries who have
joined the alliance are from Africa.