African Development Bank's SEFA to Increase Financing to $2.5 Billion for Clean Energy Projects
The African Development Bank's Sustainable Energy Fund for Africa (SEFA) plans to increase its financing to $2.5 billion over the next two years, driven by rising contributions and investor confidence in renewable energy. SEFA received $88 million in contributions in 2025, primarily from EU countries, up from $54.3 million in 2024. The fund aims to mobilize over $10 billion by 2030 and has approved 14 renewable energy projects in five African nations, adding 840 megawatts of capacity and 1.5 million new electricity connections.
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The African Development Bank's Sustainable Energy Fund for Africa (SEFA) will increase its financing to $2.5 billion over the next two years. Contributions to SEFA rose to $88 million in 2025, up from $54.3 million in 2024, indicating renewed investor confidence in African renewables.
The fund aims to mobilize over $10 billion by 2030. In 2024, SEFA approved 14 renewable energy projects across Kenya, Nigeria, Burkina Faso, Ethiopia, and Chad, adding about 840 megawatts and 1.5 million new electricity connections. SEFA also approved a $10 million loan to Hyphen Hydrogen Energy in Namibia and an $8.14 million guarantee for a social currency bond in Ivory Coast.
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