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Over USD 900 million mobilized to accelerate the clean energy transition at the 2025 SEforALL Global Forum
  • Mon, 17 Mar 2025    4 Min Read
Over USD 900 million mobilized to accelerate the clean energy transition at the 2025 SEforALL Global Forum

BRIDGETOWN, Barbados, March 17, 2025 --  The SEforALL Global Forum has witnessed groundbreaking commitments totalling over USD 900 million to scale energy access and drive the clean energy transition. Moreover, key global partners announced initiatives aimed at accelerating clean energy investments and promoting sustainable development worldwide. Major Commitments Announced DRE Nigeria Fund (USD 500 million) The Nigeria Sovereign Investment Authority (NSIA), Sustainable Energy for All (SEforALL), International Solar Alliance (ISA), and Africa50 unveiled a USD 500 million Distributed Renewable Energy (DRE) Fund to develop and finance mini-grids, solar home systems, commercial and industrial power solutions, and innovative energy storage technologies in Nigeria.'First Loss Equity' Fund (USD 250 million) Allied Climate Partners launched a USD 250 million "first loss equity" fund to drive global clean energy investment, alongside a dedicated USD 130 million fund targeting the Caribbean, aimed at catalyzing and crowding in green finance.Results-Based Financing (RBF) (USD 20 million) The European Union, in collaboration with UNOPS and SEforALL, committed USD 20 million in RBF funding through the Universal Energy Facility (UEF) to deploy mini-grids and electrify rural households in Sierra Leone.ZE-Gen Fossil Fuel Generator Displacement (USD 12 million) The IKEA Foundation pledged over €11 million to ZE-Gen, an initiative replacing fossil fuel generators with renewable alternatives across sub-Saharan Africa, South Asia, and the Indo-Pacific region.e-Cooking Support and Scale-Up Programme (USD 3.5 to 5 Million) The Middle East Green Initiative's "Forward7 Clean Cooking" program, in partnership with the Global electric Cooking Coalition (GeCCo), Modern Energy Cooking Services (MECS) and UK Aid announced funding to accelerate clean cooking adoption in Sierra Leone, supporting the country's Energy Transition and Green Growth Plan.