ISA in discussions with Africa50 to manage $200M Africa Solar Facility

10 Sep 2024 CW Team

The facility intends to address the financing gap in the region by providing customized and cost-effective solutions, particularly in a market where smaller project sizes and perceived risks have previously deterred investors, despite the urgent need for clean energy.

The ASF is expected to significantly contribute to expanding energy access, accelerating solar energy deployment, and promoting sustainable development across Africa, the statement further noted.

This decision followed ISA's public expression of interest (EOI) process, which sought to identify capable entities to serve as the ASF's investment manager. The announcement was made during the inaugural International Solar Festival 2024, organized by ISA, which is an intergovernmental body dedicated to promoting solar energy as a key solution for combating climate change and achieving a carbon-neutral future.

ISA Director General Ajay Mathur stated that ISA is collaborating with Africa50 to implement the first regional fund in Africa under the Global Solar Facility, ISA?s flagship private sector program. He expressed confidence that Africa50 would be a suitable partner for the Africa Solar Facility, highlighting that the organization combines the public sector?s reach and resources with the private sector?s agility and investment capacity. Mathur also expressed hopes that the collaboration with Africa50 would help deliver clean electricity to 600 million people across Africa.

Africa50, which is supported by 32 African countries, the African Development Bank, and two African central banks, is a prominent pan-African infrastructure investor and asset manager. With a portfolio exceeding $8 billion, it has mobilised over $4 billion in external funding for infrastructure projects across the continent.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

The International Solar Alliance (ISA) announced that it has entered into exclusive discussions with Africa50, with the latter potentially serving as the investment manager for ISA's proposed Africa Solar Facility (ASF). The ASF is a $200 million initiative aimed at stimulating investment in distributed solar projects across Africa, according to a statement from the ISA. The facility intends to address the financing gap in the region by providing customized and cost-effective solutions, particularly in a market where smaller project sizes and perceived risks have previously deterred investors, despite the urgent need for clean energy. The ASF is expected to significantly contribute to expanding energy access, accelerating solar energy deployment, and promoting sustainable development across Africa, the statement further noted. This decision followed ISA's public expression of interest (EOI) process, which sought to identify capable entities to serve as the ASF's investment manager. The announcement was made during the inaugural International Solar Festival 2024, organized by ISA, which is an intergovernmental body dedicated to promoting solar energy as a key solution for combating climate change and achieving a carbon-neutral future. ISA Director General Ajay Mathur stated that ISA is collaborating with Africa50 to implement the first regional fund in Africa under the Global Solar Facility, ISA?s flagship private sector program. He expressed confidence that Africa50 would be a suitable partner for the Africa Solar Facility, highlighting that the organization combines the public sector?s reach and resources with the private sector?s agility and investment capacity. Mathur also expressed hopes that the collaboration with Africa50 would help deliver clean electricity to 600 million people across Africa. Africa50, which is supported by 32 African countries, the African Development Bank, and two African central banks, is a prominent pan-African infrastructure investor and asset manager. With a portfolio exceeding $8 billion, it has mobilised over $4 billion in external funding for infrastructure projects across the continent.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..