Under the agreement, MIGA will provide political risk guarantees of up to $1.48 billion to support approximately $1.65 billion in equity, quasi‑equity and shareholder loan investments across up to 23 renewable projects. These include onshore wind farms, solar photovoltaic plants and battery energy storage systems.
The framework marks a shift from traditional project‑by‑project guarantees to a portfolio‑based approach, allowing multiple projects across different countries and technologies to be grouped under a single structure. This is expected to reduce approval timelines, diversify risk and accelerate delivery of critical energy infrastructure in high‑growth and frontier markets.
As a result of this transaction, MIGA’s total guarantees issued since its establishment in 1988 have now exceeded $100 billion, underscoring its role in mobilising private investment into developing economies. “With this portfolio, MIGA’s lifetime issuance now exceeds $100 billion, a milestone achievement for the agency,” said MIGA Managing Director Tsutomu Yamamoto. “We will continue to support the World Bank Group’s mission of growth, job creation and poverty reduction.”
The investment will be rolled out in two phases. Phase One covers Côte d’Ivoire, Djibouti, Egypt, Jordan, South Africa, Togo, Uganda and Uzbekistan, with additional countries expected to join in Phase Two. Construction activities are projected to create more than 17 000 direct jobs.
Each project will receive up to 15 years of protection against risks such as currency inconvertibility, transfer restrictions, expropriation, war, civil disturbance and breach of contract. The first guarantees signed under the framework include two projects in Egypt, covering more than $150 million in investments.
Under Phase One, the portfolio is expected to deliver about 2 766 MW of renewable generation capacity and 2 729 MWh of energy storage, strengthening energy security and grid stability while supporting climate goals. Several countries will deploy grid‑scale battery storage for the first time.
AMEA Power Chairman Hussain Al Nowais said the framework would accelerate clean energy investment while mitigating political and sovereign risks, reinforcing the company’s commitment to sustainable growth across emerging markets.
The initiative aligns with the World Bank Group’s Mission 300, which aims to connect 300 million people in Sub‑Saharan Africa to electricity by 2030.
–WorldBank/ChannelAfrica–
