The European Union has successfully concluded a major one-year campaign, securing a massive €15.5 billion to fund renewable energy projects across Africa. This landmark initiative, led by European Commission President Ursula von der Leyen and South African President Cyril Ramaphosa, is set to dramatically accelerate the continent's shift to clean power.
Unpacking the Financial Surge for a Green Africa
Announced in a statement from Abuja on Sunday, the financial package is a combination of commitments from various European entities. President von der Leyen pledged over €10 billion on behalf of 'Team Europe'. This was significantly bolstered by bilateral contributions from European financial institutions, member states, and their development finance institutions.
The campaign, a collaborative effort with the advocacy group Global Citizen and backed by the policy expertise of the International Energy Agency, had clear, ambitious goals. It aimed to drive both public and private investment to support Africa's clean energy transition, expand electricity access, and promote sustainable economic growth alongside decarbonised industrialisation.
Leadership and Continental Ambition
Expressing her enthusiasm for the outcome, President Ursula von der Leyen stated, "Today, the world has stepped up for Africa. With €15.5 billion, we are turbocharging Africa's clean-energy transition. Millions more people could gain access to electricity, life-changing power for families, businesses, and for entire communities."
She described the investment as a "surge of opportunity" that would create thriving markets, new jobs, and reliable clean energy. Both President Leyen and President Ramaphosa voiced their shared vision for a "clean-energy future for the continent," one led by Africa itself with strong support from its European partner.
Breakdown of the Multi-Billion Euro Commitment
The detailed breakdown of the funds reveals the wide-reaching support from Europe. The 'Team Europe' package includes new Global Gateway projects co-financed by Germany, France, Denmark, Italy, the Netherlands, and Spain. Major institutional contributions came from the European Investment Bank (€2.1 billion) and the European Bank for Reconstruction and Development (€740 million).
Significant bilateral contributions from individual nations include:
- Italy: €2.4 billion
- Germany: over €2 billion
- Netherlands (including FMO): €250 million
- Portugal: €113 million
- Denmark: €81 million
These bilateral contributions alone total over €5 billion, with the EBRD announcing a separate bilateral investment of over €600 million.
International partners also stepped up. The African Development Bank pledged to allocate at least 20% of its African Development Fund’s 17th replenishment to renewable energy. Norway committed approximately €53 million through its contribution to the same fund over the 2026-2028 period.
The tangible outcomes of this financial mobilisation are projected to be transformative. The campaign secured commitments expected to generate 26.8 GW of renewable energy and bring renewable electricity to 17.5 million households that currently live without reliable access.
The statement clarified that of the €10 billion pledged by President Leyen, €3.1 billion had been announced earlier in the year at various high-level events, including the EU-South Africa summit and the Africa Climate Summit. The remaining €7 billion was announced during the final pledging event in Johannesburg on 21 November. Looking ahead, several Team Europe actors have indicated intentions to increase their renewable energy investments by up to another €4 billion by 2030.
