The African Development Bank (AfDB) has entered into a partnership with the International Solar Alliance (ISA), to provide power to 250 million Africans through its Desert to Power Solar Initiative.
In the agreement signed on the sidelines of the inaugural ISA conference, AfDB will deploy plants that will bring 10,000 megawatts of solar produced electricity to 90 million homes that are currently not connected to any power grid.
Speaking at the signing, Amadou Hott, Vice President, Power, Energy, Climate and Green Growth at the African Development Bank, said the partnership will help the continent attain its drive towards a universal access to energy. “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. The agreement is a key lift in the bank’s broader Light up and power Africa initiative.”
The deal will see ISA and AfDB technical assistance and knowledge transfer for solar development and construction in African countries with lots of sunlight.
Most importantly, the relationship will help AfDB develop finance instruments for off-grid solar projects and large-scale solar independent power producers for African ISA member countries.
The conference which was hosted in New Delhi- the Indian capital on March 11, was co-chaired by its Prime Minister- Narendra Modi and French President Emmanuel Macron. Macron described the alliance’s three top priorities 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.
The Indian Prime Minister emphasized on the need to ensure that better and affordable solar technology is available and accessible to everyone.
50 countries were marked present with the presence of their heads of state/government and ministers, 11 of whom were African Presidents and prime ministers. Solar manufacturers, developers, financial institutions, green funds, innovators, start-ups and NGOs were also in attendance.
The International Solar Alliance initiative came into life during the UN Climate Change Conference in Paris in November 2015. It was berthed by Prime Minister Narendra Modi and then French President Francois Hollande. The Alliance is a coalition of solar resource rich countries designed to address their energy needs through a common and agreed approach. 32 of the 60-member countries in the alliance are from Africa.