Niger and the African Development Bank agreed a $144.7 million deal to improve energy access in the West African nation. The new funding aims to increase national electricity access in Niger to 30% by 2026, from 22.5% now.
Boosting renewable energy forms a key plank of the plan, with a target of generating 240 MW of solar power nationwide by 2030, up from around 80 MW last year.
The bank and Niamey are also working to update the government’s energy policies to create a more favorable environment for private-sector participation in areas such as solar mini-grid developments to reach more people in rural areas.
Africa’s solar potential has been largely untapped: The continent has only 1% of global solar generation capacity, despite being home to 60% of the world’s best solar resources, according to the International Energy Agency.