The initiative will use renewable energy certificates as a direct financing mechanism for mini-grids in some of Africa’s most fragile and energy‑poor countries.
The facility, co‑financed with an equivalent contribution from the Nordic Development Fund, brings the total to $11.3 million. It will be managed jointly by Camco Clean Energy and Energy Peace Partners, the organisation that developed the Peace Renewable Energy Certificate (P‑REC) label. Unlike standard corporate renewable certificates, P‑RECs originate exclusively from small-scale mini-grids in conflict‑affected and underserved communities, enabling companies to link sustainability spending directly to social impact.
Under the scheme, the facility will sign long‑term purchase agreements with developers across 14 frontier countries, including Burundi, the Central African Republic, Chad, the Democratic Republic of the Congo, Ethiopia, Liberia, Mali, Niger, Nigeria, Sierra Leone, Somalia, South Sudan, Sudan and Uganda. Developers will receive upfront payments in exchange for rights to the certificates, which the facility will later sell to multinational buyers. This will channel hard currency into renewable energy markets where access to commercial finance is extremely limited.
The initiative is expected to provide first‑time reliable electricity access to around 856 000 people, roughly half of them women, through approximately 240 000 new connections and 71 megawatts of additional renewable capacity.
The project aligns fully with Mission 300, a joint AfDB and World Bank initiative to connect 300 million Africans to electricity by 2030. The Nordic Development Fund (NDF) is contributing through its wider renewable energy portfolio and its role in the Development Partner Coordination Group.
João Duarte Cunha of SEFA said the facility addresses one of Africa’s greatest barriers to universal energy access: the lack of capital for rural electrification. NDF Managing Director Satu Santala added that P‑RECs will help deliver clean energy to communities with no or disrupted supply.
Camco Chief Executive Officer Geoff Sinclair said the facility would offer low‑cost, non‑dilutive capital to projects in fragile states, while Energy Peace Partners Managing Director Sherwin Das noted the vast social benefits renewable energy can unlock in conflict‑affected regions.
–AfDB/ChannelAfrica–
