• Norway channels 70% of Norfund energy funds to Africa
• Scatec leads large-scale solar projects in Egypt, Tunisia, Botswana
• Empower targets decentralized solar for Africa’s commercial sector

Norway is quietly building a significant footprint in Africa’s renewable energy sector through a coordinated strategy involving its state investment fund and two private companies.

In 2024, 70% of the public fund Norfund's energy investments went to Africa, totaling $163.9 million for clean energy projects. These investments supported 2,065 megawatts (MW) of new capacity and connected 750,000 households to power. Norfund stated that 68.2% of its total energy portfolio is now located on the continent. The fund recently invested $6.7 million in MOPO, a startup that leases solar batteries in Central and West Africa.

Norwegian industrial presence is also growing through major projects. Scatec, a private company, recently secured $479.1 million in non-recourse debt from funders including the European Bank for Reconstruction and Development, the African Development Bank, and BII to develop the hybrid Obelisk project in Egypt. The project will generate 1.1 gigawatts (GW) of solar power and include 100 MW of battery storage. Scatec is also developing a 120 MW solar plant in Tunisia and has brought 60 MW online at the Mmadinare site in Botswana. Its largest African market remains South Africa, where it is active in both large-scale solar and battery storage solutions.

Empower New Energy is focused on decentralized solar solutions. In Nigeria, the company is equipping the Justrite retail chain with 2.8 MWp of solar panels and 5.6 MWh of storage, which will produce 8,000 MWh per year. The company is also deploying projects in Morocco, Tunisia, Egypt, Ghana, and Kenya, targeting industrial and commercial clients looking to cut energy costs and reduce their reliance on diesel.

This three-pronged approach allows Norway to build lasting influence in Africa's energy transition: Norfund provides financing, Scatec handles large-scale infrastructure, and Empower New Energy services the commercial and industrial segments. With its sovereign wealth fund, Norway has substantial resources that, if its current strategy proves successful, could pave the way for a much larger scale of cooperation with Africa.

Abdoullah Diop