Multi-billion dollar Africa-India partnership aims to eradicate energy poverty
Pieces are falling into place for an important collaboration between India and Africa to end energy poverty. The stakes are high, as sub-Saharan Africa and India account for over 80 percent of the world’s 1.1 billion unelectrified.
On the heels of the first annual meeting of the African Development Bank (AfDB) ever held in India last month, this cross-continental partnership is evolving quickly, both in the public and private sectors. Of note, it is taking place at a time when India’s long-time rival China is investing tens of billions of dollars in African infrastructure to secure resources for its future development, adding an element of geopolitics that will be worth following despite India’s position that it is not engaging in Africa with “strategic intent” but to end poverty and promote social justice.
India already pledged in 2015 a concessional credit line of $10 billion to Africa over five years, earmarking at least 15-20 percent (or up to $2 billion) for solar energy projects, largely off-grid, to be implemented through the India-hosted International Solar Alliance (ISA).