Europe pledges €15.5bn to boost Africa’s clean energy drive

A year-long international campaign to fast-track renewable energy investment across Africa has closed with commitments totalling €15.5bn, driven predominantly by the European Union.

The initiative, jointly led by the President of the European Commission, Ursula von der Leyen, and the South African President, Cyril Ramaphosa, seeks to expand clean-energy generation, improve electricity access for millions of households, and support sustainable economic growth across the continent.

A statement issued by the EU Delegation in Abuja on Sunday said, “The European Union led the pledging effort, with more than €15.1bn. This includes a pledge made by President von der Leyen, on behalf of Team Europe, of over €10bn, as well as significant additional bilateral contributions by European financial institutions, member states and their development finance institutions, and estimated private investment mobilised.”

Von der Leyen said, “Today, the world has stepped up for Africa. With €15.5bn, we are turbocharging Africa’s clean-energy transition. Millions more people could gain access to electricity — real, life-changing power for families, businesses and entire communities.

This investment is a surge of opportunity: thriving markets, new jobs, and reliable, clean energy that meets the needs of partners across the globe. President Ramaphosa and I both look forward to a clean-energy future for the continent — a future led by Africa, with strong support from its friend and partner, Europe.”

The Team Europe package includes new Global Gateway projects co-financed by Germany, France, Denmark, Italy, the Netherlands and Spain, as well as the European Investment Bank (€2.1bn) and the European Bank for Reconstruction and Development (€740m).

Additionally, Italy (€2.4bn), Germany (over €2bn), the Netherlands including FMO (€250m), Portugal (€113m), Denmark (€81m), Sweden (€44m), Austria (€5m) and Ireland (€5m) made further bilateral commitments worth more than €5bn, while the EBRD announced a separate bilateral investment of over €600m.

Beyond European contributions, the African Development Bank pledged to allocate at least 20 per cent of the African Development Fund’s 17th replenishment to renewable energy. Norway also committed approximately €53m through its contribution to the same fund for 2026–2028.

According to campaign organisers, the pledges are expected to deliver 26.8 gigawatts of renewable-energy capacity and provide clean electricity to 17.5 million households currently without reliable power.

Of the €10bn pledged by von der Leyen for Team Europe, €3.1bn had been previously announced at major events, including the EU–South Africa Summit in March 2025, the Mattei Plan for Africa and Global Gateway event in June 2025, the Africa Climate Summit and UN General Assembly in September 2025, and the Global Gateway Forum in October 2025. The remaining €7bn was pledged at the final campaign event held in Johannesburg on 21 November.

The “Scaling up Renewables in Africa” campaign was launched in November 2024 in Rio de Janeiro to mobilise public and private financing for the continent’s energy transition. It aligns with global COP28 objectives to triple renewable energy capacity and double energy-efficiency improvements worldwide.

Africa remains one of the regions most affected by energy deficits, with 600 million people lacking electricity access. Despite possessing 60 per cent of the world’s best solar resources, the continent attracts just 2 per cent of global energy investment, hampered by high capital costs, geographic constraints and supply-chain barriers.

Through its Global Gateway Strategy and the Africa–Europe Green Energy Initiative, the EU has reaffirmed its long-term commitment to supporting renewable generation, strengthening electricity transmission, and boosting cross-border energy trade across Africa.