The Common Market for Eastern and Southern Africa (COMESA) is set to launch a $25 million Project Preparation Facility aimed at boosting renewable energy access across the region.
The initiative, known as the ASCENT Project Preparation Facility (PPF), is funded by the World Bank and will be officially unveiled during the Energy Access Investment Forum 2026 in Nairobi from 21 to 24 April.
According to a press statement issued in Lusaka, the facility is designed to support the development of bankable renewable energy projects by providing technical expertise to project developers. It aims to bridge the gap between early-stage ideas and investment readiness, ensuring projects meet international financing standards.
COMESA Assistant Secretary General for Programmes, Mohamed Kadah, said the facility will play a key role in advancing clean energy access and regional integration.
“The ASCENT Project Preparation Facility will reinforce our collective ambition to advance renewable electrification, promote productive use of energy, and accelerate the green transition,” he said.
The facility will be managed by Cygnum Capital, which has been tasked with developing a pipeline of viable projects and providing technical and financial advisory services.
Once operational, the PPF is expected to stimulate investment in renewable energy across sectors such as agriculture, industry and commerce, while supporting sustainable economic growth.
The launch positions COMESA at the forefront of Africa’s energy transformation efforts, as stakeholders gather at the forum to forge partnerships aimed at expanding access to clean, reliable and affordable energy.
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