Africa's Mission 300 Aims to Electrify 300 Million by 2030 with Private Sector Investment and Renewable Energy Focus

Tanzania: At the Africa Energy Summit, leaders endorsed Mission 300 (M300), targeting electricity access for 300 million Africans by 2030.

Financial Commitments: M300 has secured $50 billion in commitments from development partners, including $48 billion from the AfDB and World Bank through 2030.

Private Sector Role: Policymakers are urging private sector investment in generation, transmission, and distribution.

Nigeria: Independent Power Producers (IPPs) accounted for 31.2% of Nigeria's total generation capacity in 2022.

Distributed Renewable Energy (DRE): Focus on small-scale energy systems using renewables for remote areas. The IFC launched a $1 billion fund for private DRE companies.

Clean Cooking: Shift to technologies like LPG stoves to mitigate environmental and health concerns. TotalEnergies committed $400 million to reach 85 million Africans with LPGs.