Global Solar Facility:
Blended Finance Instrument to Accelerate Solar Investments in Africa
Hosted by the International Solar Alliance
Solar energy is a growing and important contributor to the green economy and low-carbon growth in Africa. Africa’s solar potential is 70 GW (by 2030), but only 11.5 GW is currently installed. For the continent, to meet the solar potential by 2030, it would require an investment of at least USD 60 billion. However, solar investments in the region continue to lag, with only USD 18 billion invested between 2010 and 2020. The Global Solar Facility aimed to catalyse solar investments in the underserved segments and geographies of Africa, thereby unlocking commercial capital. The facility focused on investing across solar technologies – off-grid solar, rooftop solar, productive use solar, utility-scale solar – across Africa through a country-specific intervention approach. ISA stimulated investments into solar through the Solar Facility with a Solar payment guarantee fund, Solar insurance fund and Solar investment fund.