- Africa holds 60% of the world’s best solar resources, yet it attracts only 2% of global investment.
- Europe has pledged €15.5 billion to accelerate Africa’s clean-energy transition.
Africa’s solar potential remains one of the most significant yet underused energy assets in the world. The continent holds 60% of the world’s best solar resources, although it still attracts only 2% of global energy investment. This imbalance highlights a growing concern for policymakers and investors. Africa’s solar potential is a key feature in current global energy debates due to its scale and strategic importance.
Despite this advantage, Africa continues to face barriers that hinder the growth of clean energy. Many countries face challenges, including high capital costs, supply chain disruptions, and limited investor confidence. These challenges slow progress and restrict access to reliable power. Consequently, approximately 600 million people still live without access to electricity. Africa’s population is expected to double by 2050, making the need for sustainable energy even more urgent.
A new campaign led by European Commission President Ursula von der Leyen and South African President Cyril Ramaphosa aims to support the continent’s transition. The initiative has mobilised €15.5 billion to accelerate the expansion of renewable energy. It aims to enhance electricity access and promote industrial decarbonisation. It also aims to stimulate economic growth across African markets.
President von der Leyen stated that the investment would accelerate Africa’s transition to clean energy. She added that the funding could deliver life-changing results for families, businesses, and entire communities. The support demonstrates Europe’s intention to establish a long-term partnership that enhances Africa’s energy independence.
Most of the funding comes from the European Union and Team Europe partners. These partners include Germany, France, Italy, Denmark, the Netherlands, and Spain. European development banks and financial institutions will also contribute. African institutions, including the African Development Bank, plan to direct substantial funding to renewable projects.
The campaign aims to deliver 26.8 GW of renewable power and provide electricity access to 17.5 million households. Team Europe partners aim to increase renewable energy investments by 2030, which could result in an additional €4 billion. The EU’s Global Gateway initiative will support energy generation and cross-border transmission. It will also help strengthen Africa’s clean electricity networks and reduce its dependence on fossil fuels.