The African Development Bank Group’s Sustainable Energy Fund for Africa (SEFA), a multi-donor special fund managed by the Bank Group, has secured new investment commitments totalling nearly €50 million ($57 million) , to strengthen the rollout of Mission 300 and accelerate climate action across Africa’s power sector.

The commitments, made by the governments of Germany and Italy, were announced at a COP30 side event held at the Africa Pavilion on 14 November.

Germany committed EUR 14 million to support SEFA's universal energy access goal, and EUR 30 million for the new SEFA green hydrogen programme, reflecting the strategic importance of this emerging sector for Africa's decarbonisation and industrial development. Italy also announced a new contribution of five million euros to the fund.

Dr Katharina Stasch, Director-General for Climate Policy of the Federal Ministry for Economic Cooperation and Development (BMZ), said: “We see the Africa-owned and Africa-led African Development Bank as an excellent partner in unlocking the potential of a green hydrogen economy for African countries.

“By working together, we can create a ‘win–win’: partner countries benefit from new energy resources, industrial development, technology transfer, and new jobs while Europe diversifies its future energy imports. Through our partnership with the African Development Bank and SEFA, we hope to create positive tipping points for the market ramp-up of green hydrogen.”

Roberto Amerise, Director for General Affairs, Financial Programmes, and International Cooperation at the Italian Ministry of the Environment and Energy Security (MASE), highlighted the strong commitment of the Italian Government towards Africa, considered a priority for national energy and climate policies. He stressed the importance of encouraging private investment to accelerate the continent’s energy transition and sustainable development. Amerise also announced a new contribution of 5 million euros to the SEFA Special Fund for 2025.

"These resources," he said, "reaffirm our collective commitment to advancing SEFA’s strategic objectives and accelerating the implementation of renewable energy and energy access projects in Africa that drive sustainable development."

Commenting on the new commitments, Dr Kevin Kariuki, Vice-President, Power, Energy, Climate Change and Green Growth, AfDB, said: "Today's deliberations and commitments at COP30 powerfully reaffirm the urgent need for a unified, bolder approach to Africa's energy transition, resilience and security.  The new commitments from Germany and Italy will constitute wind in the sails for Mission 300 goals and solidify SEFA's centrality in Africa's universal energy access journey".

The event, moderated by Dr Daniel Schroth, the Bank’s Director for Renewable Energy and Energy Efficiency, also acknowledged the ongoing support from partners like Norway, with Hans Olav Ibrekk, Special Envoy for Climate, reiterating the country’s commitment to mobilising private sector investments for the success of Mission 300.

A central theme of the event was the vital role of blended finance in de-risking investments and attracting commercial capital to achieve M300 goals.

Attendees learned about projects such as the landmark Obelisk facility in Egypt – a 1 GW Solar PV and 200 MWh Battery Energy Storage System (BESS) co-financed by AfDB and SEFA – with insights shared by Terje Pilskog, CEO of Scatec.

The discussions also featured the impactful work of BURN, a successful African clean cooking company and SEFA grant recipient.

Caroline Amollo, BURN’s Director of Corporate Affairs, demonstrated through their proven market operations how innovative models are effectively driving affordability and widespread adoption.

Speakers highlighted the importance of predictable and attractive regulatory frameworks to attract private capital for a just and equitable energy transition, focusing on bankable, scalable, and human-centred projects, especially in clean cooking.

They also stressed the need to leverage declining renewable energy costs through efficient deployment of development funding.

The event reinforced collective commitment to integrating energy transition cooperation within broader climate diplomacy, demonstrating that with concerted effort, the goals of M300 and the broader climate ambitions articulated at COP30 are attainable.-TradeArabia News Service