An Africa‑Europe campaign launched in November 2024 has secured €15.5 billion to boost renewable energy across the continent. European Commission President Ursula von der Leyen and South African President Cyril Ramaphosa led a year‑long pledging effort that culminated in Johannesburg on 21 November 2025. The European Union alone pledged more than €15.1 billion, including a €10 billion contribution from von der Leyen’s “Team Europe” package and additional bilateral investments from EU member states and development banks such as the European Investment Bank (€2.1 billion) and the European Bank for Reconstruction and Development (€740 million).
African partners also committed funds: the African Development Bank will allocate at least 20 % of its 17th replenishment to renewables, and Norway pledged about €53 million. The pledges will finance 26.8 GW of new renewable capacity and bring electricity to 17.5 million households that currently lack reliable power. An additional €4 billion is expected by 2030.
https://ec.europa.eu/commission/presscorner/detail/en/ip_25_2781
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