The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank, has approved a US$ 1 million grant to Independent Power Producers (IPP) in Angola to encourage private investment in renewable energy.
The SEFA grant will be used to establish a one-stop shop unit known as the Energy Project Implementation Support Unit (EPISU). SEFA technical assistance will work as an enabling environment for IPP/Public-Private Partnership (PPP) projects to improve bankability of projects. Additionally, it will address capacity-building issues by providing technical assistance on project procurement, contract design implementation and monitoring. As part of its long-term development strategy, the Government of Angola aims to expand electricity access to 60% of the population by 2025, with an expected 70% to be derived from renewable sources.