The African Development Bank (AfDB) announced $90 million in new donor commitments for the Sustainable Energy Fund for Africa (SEFA). The new SEFA Special Fund is expected to expand, be more flexible, as well as more responsive to Africa’s fast changing energy market, with a sharper focus on green mini-grids and green baseload, and offering a wider array of catalytic finance instruments.
“Denmark has the development goal of providing clean energy to 5.8 million people in Africa. SEFA has proven that it has the capacity to implement innovative renewable energy projects - even in difficult circumstances. Therefore, Denmark is a close partner with SEFA - and we are pleased to be able to continue the work of providing clean energy to all,” said Danish Minister for Development Cooperation, Mr. Flemming Møller Mortensen, who was represented by Stephan Schönemann, Under-Secretary for Development Policy with the Danish government.
The African Development Bank (AfDB) has secured $90 million in donor funds for the Sustainable Energy Fund for Africa (SEFA) project. The SEFA fund, according to the bank is expected to expand, make more flexible, and be responsive to Africa’s fast changing energy market, with a sharper focus on green mini-grids and green base load as well as offering a wider array of catalytic finance instruments.
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The SEFA fund was secured during the virtual launch event organised by the AfDB for the SEFA donors to reaffirm their support for the institutional priorities of the fund, and had in attendance over 300 development partners and financiers, representatives of African governments and energy sector institutions, project developers and sponsors, commercial banks and infrastructure funds.