Featured in Further upstream – 10-2024

Private sector powers African solar growth

Multilateral organizations the World Bank and African Development Bank (AfDB) have played a key role in the development of African solar and want to attract more private capital to a continent with at least 40% of the world’s solar irradiation but currently only 1% of its PV generation capacity.

By

pv magazine

05 Nov 2024

The 25 MW Danzi solar project in the Central African Republic, which was completed in November 2023. | Photo: Vincent Tremeau/World Bank

Until relatively recently, African solar projects such as the 1.8 GW Benban site in Egypt were in part funded by donor support. This is not a sustainable long term model because of the limited finance available from donor nations. It would be more effective for donors and multilateral organizations to help encourage greater private sector …

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