The European Union has pledged €15.5 billion to accelerate Africa’s clean energy transition. The funding aims to expand electricity access and support sustainable economic growth across the continent.
European Commission President Ursula von der Leyen announced the pledge on behalf of Team Europe. It includes over €10 billion in EU-led funding, along with significant contributions from member states, European financial institutions, and private investors.
This pledge follows a year-long campaign led by von der Leyen and South African President Cyril Ramaphosa. They worked to mobilise public and private investments in renewable energy, with support from Global Citizen and the International Energy Agency.
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Von der Leyen said, “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 communities.”
The Team Europe package features new Global Gateway projects co-financed by Germany, France, Denmark, Italy, the Netherlands, Spain, the European Investment Bank (€2.1 billion), and the European Bank for Reconstruction and Development (€740 million). Additional bilateral contributions include Italy (€2.4 billion), Germany (over €2 billion), the Netherlands (€250 million), Portugal (€113 million), Denmark (€81 million), Sweden (€44 million), Austria (€5 million), and Ireland (€5 million). The EBRD added €600 million separately.
These investments will generate 26.8 GW of renewable energy. They will also bring electricity to 17.5 million households currently without reliable access.
The campaign, launched in November 2024 in Rio de Janeiro, also supports COP28 targets to triple renewable energy and double energy efficiency worldwide. Africa has 60% of the world’s best solar resources but receives only 2% of global energy investments.
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Through the Africa-Europe Green Energy Initiative (AEGEI) and the Global Gateway strategy, the EU aims to strengthen partnerships, improve energy infrastructure, and make Africa a key player in the global clean energy transition.
Esther Ososanya is an investigative journalist with Pinnacle Daily, reporting across health, business, environment, metro, Fct and crime. Known for her bold, empathetic storytelling, she uncovers hidden truths, challenges broken systems, and gives voice to overlooked Nigerians. Her work drives national conversations and demands accountability one powerful story at a time.
