Africa50 and Masdar will also explore opportunities to collaborate on the implementation of the Alliance for Green Infrastructure in Africa
Abu Dhabi-based Masdar has announced a partnership with Africa50, the pan-African infrastructure investment platform.
The clean energy giant will identify, drive and scale clean energy projects across the continent.
The UAE’s clean energy leader and Africa50 have signed a memorandum of understanding (MoU), which will work to bridge the infrastructure funding gap and mobilise public and private finance.
The agreement will see both parties work collaboratively to catalyse sustainable development of the clean energy sector in Africa.
Masdar has committed $2bn of equity as part of the UAE finance initiative, which was announced during Africa Climate Summit by Dr Sultan Al Jaber, Chairman of Masdar and COP28 President-Designate.
The Africa Climate Summit is the first of four global climate summits ahead of COP28,