- The Facility aims to Mobilise $966m over the next seven years.
- The Desert-to-Power initiative aims to deploy 10GW of solar in the Sahel region by 2030.
The Green Climate Fund (GCF) has approved the investment of $150 million in the AfDB’s Desert to Power G5 Financing Facility. The Desert-to-Power initiative aims to deploy a capacity of 10GW across the Sahel via public, private, grid and off-grid solar PV projects by 2030. The Desert to Power G5 Financing Facility will assist the G5 Sahel countries – Burkina Faso, Chad, Mali, Mauritania, and Niger – to exploit their solar potential for increased solar energy production. The facility aims to mobilise $966 million over a seven-year implementation period.
The facility comprises public and private sector sub-projects set to be implemented under three components: The first will be investments in grid and storage solutions to de-risk solar IPPs and promote the establishment of a regional solar market. The second will see the provision of concessional finance and guarantees for new solar IPPs to add over 500MW of solar capacity. The third is the provision of technical assistance to support the creation of a clear and predictable environment for private sector solar investments and the development of an adequate capacity of national institutions in the G5 Sahel countries.
The AfDB’s Vice President, Dr Kevin Kariuki, welcomed the GCF’s investment, stating: “The Desert to Power G5 Sahel Facility is a significant shot in the arm for the Desert to Power initiative. It will spur private sector investments in developing solar generation capacity in the G5 Sahel countries. This will provide an opportunity to realize Dr Adesina’s and, by extension, the African Development Bank’s vision of the Desert to Power initiative as an integral part of the solution for tackling climate change in the Sahel. The timing of the approval is also perfect, coming just before COP26.”