The African Development Bank named the Development Financing Institution of the Year at the African Solar Industry Solar Award (AFSIA) in 2020 in recognition of its growing footprint of solar energy in Africa.
The award from the African Solar Industry Association (AFSIA) presented at the African Energy Forum virtual on 29 October highlights the critical role that the Bank’s Sustainable Energy Fund for Africa (SEFA) plays in supporting various solar initiatives and decentralized solutions. The African Development Bank is shortlisted by the World Bank and the West African Development Bank.
“Congratulations to the AfDB team on winning this first DFI of the Year award. The bank’s hard work by the Sustainable Energy Fund for Africa (SEFA) was unanimously recognized by the independent jury for its contribution to the development of to support distributed solar solutions, John van Zuylen, CEO of the African Solar Industry Association, said: “I look forward to AfDB’s participation in the AFSIA Solar Awards next year, hopefully with an even more effective program.”
AFSIA is the reference association for solar scientists in Africa and promotes solar power across the continent.
The AFSIA Award is the annual recognition of organizations, companies or individuals that are seen as an outstanding contribution to the promotion and promotion of solar power use across the African continent. More than 130 applications were submitted in 15 different categories this year and judged by the most knowledgeable experts in the industry.
Launched in 2012, the Sustainable Energy Fund for Africa (SEFA) is a special donation fund managed by the African Development Bank, which provides catalytic financing to unlock private sector investments in renewable energy. SEFA has become one of the leading facilities on the continent providing support for project preparation for renewable energy projects led by the private sector, and to help governments create a more favorable environment for private sector investment.
Last year, SEFA was transformed into a larger mixed financing facility around three thematic areas of green base load, green mini-grids and energy efficiency. It also led the launch of innovative mixed-financing initiatives, such as the $ 95 million energy inclusion facility Fund for access to energy outside the network (FEI OGEF), one of the largest African strategies for financing domestic solar enterprises. FEI OGEF sets a new standard for commercial and capital structures, as well as operating models, and is expected to contribute to the installation of more than 1.5 million energy access solutions by leveraging $ 500 million from third parties.
“This award will inspire us all to do more: to accelerate implementation, to scale up investments and to leverage the synergy with all the major efforts that are underway across the continent,” said Daniel. Schroth, the acting director of the Bank, said. Renewable energy and energy efficiency.
In line with its New Deal on Energy, the Bank has significantly increased its investments in the solar sector over the past few years for large-scale developments, such as the Ouarzazate solar power complex in Morocco, as well as several decentralized energy initiatives in the mini- and the off-grid sector at national and regional level.
Click on here to watch the ceremony:
Background information: https://www.afdb.org/en/topics-and-sectors/initiatives-partnerships/sustainable-energy-fund-for-africa
Contact:
Emeka Anuforo, Department of Communications and External Relations, African Development Bank. Email: e.anuforo@afdb.org
Technical contact: Joao Duarte Cunha, Division Manager, Renewable Energy
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