{"id":19115,"date":"2025-02-06T10:32:18","date_gmt":"2025-02-06T06:32:18","guid":{"rendered":"https:\/\/gbc1.net\/?p=19115"},"modified":"2025-03-14T22:15:13","modified_gmt":"2025-03-14T18:15:13","slug":"africa50-to-set-up-500m-green-off-grid-power-fund","status":"publish","type":"post","link":"https:\/\/gbc1.net\/index.php\/2025\/02\/06\/africa50-to-set-up-500m-green-off-grid-power-fund\/","title":{"rendered":"Africa50 to Set Up $500M Green Off-Grid Power Fund"},"content":{"rendered":"\n<p>Africa50, a pan-continental infrastructural investor based in Casablanca, is setting up a USD 500 million fund targeted at promoting green off-grid power projects across Africa. The fund is aptly named Alliance for Green Infrastructure in Africa (AGIA).<\/p>\n\n\n\n<p>Alain Ebobisse, CEO of <a href=\"https:\/\/gbc1.net\/index.php\/tag\/africa50\/\">#Africa50<\/a>, made the plan public during an interview at a conference in Tanzania. He explained that out of the USD 500 million, USD 400 will go to project development, while USD 100 million be for project preparation.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\">\n<p>&#8220;With such a fund, you can expect to mobilize up to $10 billion worth of investments. The first close will be in the first half of 2025.&#8221;<\/p>\n<cite>Africa50 CEO Alain Ebobisse<\/cite><\/blockquote>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img data-dominant-color=\"919999\" data-has-transparency=\"false\" style=\"--dominant-color: #919999;\" decoding=\"async\" loading=\"lazy\" width=\"640\" height=\"360\" src=\"https:\/\/gbc1.net\/wp-content\/uploads\/2025\/03\/Africa50-02w-jpg.webp\" alt=\"Africa50 CEO Alain Ebobisse\" class=\"not-transparent wp-image-19123\" srcset=\"https:\/\/gbc1.net\/wp-content\/uploads\/2025\/03\/Africa50-02w-jpg.webp 640w, https:\/\/gbc1.net\/wp-content\/uploads\/2025\/03\/Africa50-02w-300x169.webp 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><figcaption class=\"wp-element-caption\">Africa50 CEO Alain Ebobisse<\/figcaption><\/figure><\/div>\n\n\n<p>The creation of the Fund is part of the larger <a href=\"https:\/\/gbc1.net\/index.php\/tag\/m300\/\">#M300<\/a> initiative to bring power to 300 millions Africans by 2030. In addition, Africa50 is setting up another USD 200 million Distributed Renewable Energy Fund for projects such as solar-powered mini-grids and home PV systems. The International Solar Alliance (ISA) will sponsor the new fund, called the Africa Solar Facility (<a href=\"https:\/\/gbc1.net\/index.php\/tag\/asf\/\">#ASF<\/a>).<\/p>\n\n\n\n<p>The money for the AGIA Fund comes from sixteen African institutional investors, including Sovereign Wealth Funds (<a href=\"https:\/\/gbc1.net\/index.php\/tag\/swf\/\">#SWF<\/a>) and commercial banks. The International Finance Corporation under the World Bank Group is the only non-African backer.<\/p>\n\n\n\n<p>Africa50 aims to tap into the USD 2.3 trillion held by African institutions to catalyze the <a href=\"https:\/\/gbc1.net\/index.php\/tag\/electricityaccess\/\">#ElectricityAccess<\/a> in Africa. Over the past seven years, Africa50 has invested in 28 projects in 27 countries across Africa.<\/p>\n\n\n\n<p>One of the flagship project is the financing of the electrical transmission line in Kenya. The deal is based on a Public-Private Partnership (<a href=\"https:\/\/gbc1.net\/index.php\/tag\/ppp\/\">#PPP<\/a>) between the Kenya Electricity Transmission Company (KETRACO) and Power Grid Corporation of India. Currently, Africa50 has signed MoU for similar projects in Gabon, Mozambique, and Tanzania.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa50, a pan-continental infrastructural investor based in Casablanca, is setting up a USD 500 million fund targeted at promoting green<\/p>\n","protected":false},"author":1,"featured_media":19121,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_mi_skip_tracking":false,"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":0,"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":""},"categories":[3],"tags":[819,820,799,641,241,483],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.12 - 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