NAIROBI, Kenya (AP) — Africa’s flagship clean energy fund plans to more than double its financing to $2.5 billion over the next two years, as momentum builds behind the continent’s energy transition.
Contributions to the African Development Bank’s Sustainable Energy Fund for Africa (SEFA) rose last year, signaling renewed investor confidence in African renewables. Since its launch, the fund has mobilized about $1 billion in commercial capital alongside its own commitments.
“Based on our projects pipeline, we projected capital mobilization to climb to $2.5 billion,” said Joao Duarte Cunha, manager of the bank’s Renewable Energy Funds Division and the Sustainable Energy Fund for Africa.
“By 2030, we expect our portfolio to yield over $10 billion in commercial capital mobilized,” he said.
The contributions to SEFA rose to $88 million in 2025, mostly from European Union member countries. That was up from $54.3 million the year before, the regional lender said during its recent governing council meeting.
“SEFA is proving its catalytic value on the ground, with accelerated approvals and disbursements and growing impact,” said Kevin Kariuki, vice president for Power, Energy, Climate and Green Growth at the African Development Bank Group.
The bank approved 13 renewable energy projects last year worth $97 million, compared with 14 projects valued at $108 million a year earlier.
“The last two years have been among our strongest, with 27 projects approved — also broadly comparable in funding volumes and significantly higher than earlier years,” said Cunha.
“Demand for catalytic financing and upstream support continues to grow, and we remain deeply committed to driving the energy transition and achieving universal energy access by 2030,” he said.
Germany committed $40.1 million at last year's COP 30 global climate summit in Brazil, to support SEFA’s goal of universal energy access and its green hydrogen program. Italy announced a $5.9 million contribution to the fund.
SEFA is designed to attract private investment in clean energy across the continent. Backed by donors led Denmark, it has received cumulative contributions of $577 million. The fund provides low-cost loans and technical assistance to expand energy access and support sustainable development.
In 2024, SEFA approved 14 renewable energy projects in Kenya, Nigeria, Burkina Faso, Ethiopia and Chad, adding about 840 megawatts of generating capacity and delivering 1.5 million new electricity connections. Of those projects, eight were categorized as green baseload — producing the minimum amount of energy required to meet a country's energy demand. Two were categorized as green mini-grids and four as energy efficiency initiatives.
In 2025, most approved projects also fell under green baseload, with fewer mini-grid and energy efficiency operations. In December, SEFA approved a $10 million loan to Hyphen Hydrogen Energy, a renewable energy firm producing hydrogen and ammonia in Namibia. It also provided $8.14 million guarantee for an Ivory Coast social currency bond to pay for 400,000 new electricity connections by the end of this year.
Beyond utility-scale projects, SEFA is investing in decentralized energy platforms, including mini-grid developers and private equity and debt funds focused on distributed energy, or production of electricity from small scale sources.
“We are actively testing new product lines for clean cooking and for financing through commercial banks. There is real and meaningful innovation happening in this space,” Cunha said.
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FILE - Mark Munyua, CP solar's technician, examines solar panels on the roof of a company in Nairobi, Kenya, Sept. 1, 2023. (AP Photo/Brian Inganga, File)
Reaction to the death of College Football Hall of Fame coach Lou Holtz, who led Notre Dame to a national championship in 1988.
“Lou and I shared a very special relationship. He welcomed me to the Notre Dame family immediately, offering me great support throughout our time together. Our relationship meant a lot to me as I admired the values he used to build the foundation of his coaching career: love, trust and commitment. ... Lou’s impact at Notre Dame has gone well beyond the football team. He and his wife, Beth, are respected across campus for their generous hearts and commitment to carrying out Notre Dame’s mission of being a force for good.” — Notre Dame coach Marcus Freeman.
“He was successful. But more important, he was significant.” — Skip Holtz, son of Lou Holtz and a fellow football coach.
“Lou Holtz was more than a football figure. He was a true leader. One of one. He consistently encouraged others in life. The message never changed. Trust, Love, Commitment.” — Rick Mirer, Notre Dame quarterback from 1989-1992.
“Lou Holtz was a true giant in our game, not just because of the championships he won, but because of the lives he shaped. He stood for discipline, faith, education and doing things the right way. College football is better because of Coach Holtz, and so are generations of young men who were fortunate enough to play for him.” — Archie Manning, former college and NFL QB, and chairman of the National Football Foundation.
“Obviously one of the greatest coaches certainly to ever coach this game. I would think a lot of people who played for him and know him would probably say one of the greatest people and one of the greatest influences in a lot of people’s lives.” — Clemson coach Dabo Swinney.
“I still remember the day he came to my house to recruit me. He didn’t just sit down and talk to me about football or what I could do on the field. He talked to me as a young man. And he spoke to my mom the way a man should speak to a mother who was trusting someone with her son. He looked her in the eye and promised that I would be taken care of at Notre Dame. That moment meant everything to us, and it’s something I’ve carried with me my entire life.” — Hall of Fame NFL running back Jerome Bettis, who played at Notre Dame from 1990-92.
“We lost a true legend, Lou Holtz, at 89. A champion and iconic coach to many, but I’ll remember him as a neighbor, and a genuinely kind man. I’ll never forget when he hosted my dad and me at Augusta. His legacy isn’t just in wins, but in the way he made people feel.” — Annika Sorenstam, women's professional golfer.
“Notre Dame mourns the loss of Lou Holtz, a legendary football coach, a beloved member of the Notre Dame family and devoted husband, father and grandfather. Among his many accomplishments, we will remember him above all as a teacher, leader and mentor who brought out the very best in his players, on and off the field, earning their respect and admiration for a lifetime. ... Whenever Notre Dame called to ask for his help, Lou answered with his characteristic generosity, and he will be sorely missed." — The Rev. Robert A. Dowd, University of Notre Dame president.
“Lou Holtz was a giant of college football whose influence on the game is matched only by the impact he had on people. Coach Holtz built championship programs, transformed young men into leaders, and brought passion and discipline to every sideline he paced. His on-field success is etched in the history of the sport, but it was his unmistakable voice and quick wit that connected him so deeply with football fans everywhere." — Southeastern Conference commissioner Greg Sankey.
"He not only was a great coach, he was a great person. We need more people like Lou Holtz. ... He was a jokester and a character. People liked to be around him. It’s hard to put a tag on Lou Holtz. He did everything so well. He was a great speaker. He attracted crowds wherever he went.” — former West Virginia coach Don Nehlen.
“Coach Lou Holtz was a legend on and off the field, who cared deeply for the state of Indiana and lived a remarkable life grounded in faith, family, and giving back. He will be greatly missed.” — Indiana Gov. Mike Braun.
“I learned that it was a bad idea to speak after him at an event because he was such an inspirational and motivational speaker. He was truly one of a kind.” — Florida Gov. Ron DeSantis
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FILE - Notre Dame's head coach Lou Holtz and the Fighting Irish walk onto the field of the Los Angeles Coliseum to warm up for an NCAA college football game against Southern California Saturday, Nov. 30, 1996 in Los Angeles. (AP Photo/Kevork Djansezian, File)
FILE - Notre Dame coach Lou Holtz watches his team workout before the start of their game against Japan's national American football team at the Notre Dame Japan Bowl in Tokyo Saturday, July 25, 2009. (AP Photo/Junji Kurokawa, File)
