ACCRA– The African Development Bank (AfDB) has entered into partnership with the International Solar Alliance (ISA) to scale up solar energy generation in Africa to boost the Bank’s “Light Up” power initiative.
The Bank and the ISA will jointly support technical assistance and knowledge transfer for solar development and deployment in sun-shine rich African countries, a statement from the AfDB says. They will also develop finance instruments for off-grid solar projects, as well as large-scale solar independent power producers (IPPs) for African ISA member countries.
As part of the new agreement, the ISA will support the Bank’s Desert-to-Power solar energy initiative under which the Bank intends to turn Africa’s deserts into new sources of energy. The initiative involves working with partners to develop 10,000 megawatts (MW) of solar power systems across the Sahel to provide electricity to 250 million people, with 90 million of them being on off-grid systems.
The partnership agreement between the Bank and the ISA was sealed on the margins of the Founding Conference of the International Solar Alliance (ISA) held in New Delhi on March 11. The Conference was co-chaired by Prime Minister Narendra Modi of India and President Emmanuel Macron of France.
Amadou Hott, the AfDB Vice-President for Power, Energy, Climate and Green Growth, said: 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.”
Source: NAM NEWS NETWORK