Funding for Africa clean energy financing surges despite fewer project approvals

NAIROBI, Kenya (AP) — Africa’s flagship clean energy fund plans to more than double its financing to $2.5 billion over the next two years, as momentum builds behind the continent’s energy transition. Contributions to the African Development Bank’s Sustainable Energy Fund for Africa (SEFA) rose last year, signaling renewed investor confidence in African renewables. Since its launch, the fund has mobilized about $1 billion in commercial capital alongside its own commitments. “Based on our projects pipelin ...