Sustainable Energy Fund for Africa (SEFA) Annual Report 2020: Building Foundations for Success
The theme of the 2020 Annual Report - “Building Foundations for Success” – highlights 2020 as the inaugural year for SEFA as a special fund, with an expanded toolkit of instruments, updated strategic priorities, and efforts to explore a new generation of power sector interventions.
The new SEFA set-up has a sharper focus towards paving the way for sustainable energy investment at scale by the Bank, development and commercial financiers, in support of universal energy access and the clean energy transition in Africa. Despite the challenges of the unprecedented COVID-19 pandemic, 2020 was a record year with USD 54 million approved in new projects, the completion of six legacy projects, and USD 90 million of new financial commitments welcomed from existing and new donors. A number of flagship initiatives were launched, reflecting the evolving priorities of both SEFA and the AfDB. The year was also marked by international recognition of SEFA’s long-running commitment to and efforts in the African sustainable energy landscape.
Due to SEFA’s role in designing and incubating key innovations in sustainable energy finance, the African Development Bank was recognised as the 2020 Development Finance Institution of the Year by the African Solar Industry Association (AFSIA). The Award particularly noted SEFA’s early support of the Facility for Energy Inclusion Off-Grid Energy Access Fund, a USD 100 million debt investment fund and an important enabler of Africa’s fast-emerging off-grid solar market.
The report is divided as follows:
SECTION 1 showcases the new SEFA focal areas and instruments, including both technical assistance and concessional investment instruments for projects across three focal areas: “green mini-grids”, “green baseload” and “energy efficiency”.
SECTION 2 presents the key achievements in 2020, including the seven new projects approved, six projects completed, and the three outreach events organised to disseminate and validate knowledge products developed with SEFA support.
SECTION 3 provides an overview of SEFA’s legacy (2012-2019) portfolio, encompassing a total of USD 80.5 million provided to 71 projects in 30 countries.
SECTION 4 looks ahead to the priorities for 2021 and continuing SEFA’s transformation into the leading catalytic finance facility for the African continent.
Download the report below.