Over USD 900 million mobilized to accelerate the clean energy transition at the 2025 SEforALL Global Forum
BRIDGETOWN, Barbados, March 17, 2025 /CNW/ -- 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.
National and Regional Energy Initiatives Unveiled
- Barbados Energy Transition and Investment Plan (ETIP) launched: Launched by Prime Minister H.E. Mia Amor Mottley and Minister Lisa Cummins, in collaboration with SEforALL, this roadmap aims for Barbados to achieve net-zero by 2035.
- Pakistan sets in motion plans to develop its Energy Transition and Investment Plan (ETIP): SEforALL and the Government of Pakistan announced a new partnership to develop a national energy transition roadmap.
- Formula E announces its intention to join Energy Compacts: The global motorsport series committed to joining the Energy Compacts coordinated by the United Nations and UN-Energy and supported by SEforALL.
- GFANZ Caribbean Chapter launched: The Glasgow Financial Alliance for Net Zero (GFANZ) introduced its Caribbean Chapter to mobilize private capital and address local investment barriers.
- Partnership to promote a just and equitable energy transition in Latin America and the Caribbean: SEforALL and the Latin American Energy Organization (OLADE) committed to strengthening policies, regulations, and tariffs for a just and equitable energy transition in Latin America and the Caribbean.
- Africa renewable energy manufacturing financiers' collective unveiled: SEforALL launched a new platform to connect financiers with manufacturers, boosting green finance and supporting local renewable energy production in Africa and Southeast Asia.
Winners of the 2025 Energy Heroes Awards Announced
The winners of the 2025 Energy Heroes Awards were announced at the SEforALL Global Forum. Seven winners from Africa, Asia-Pacific, Latin America and the Caribbean as well as Middle East and North Africa, were feted for their innovations revolutionizing the sustainable energy sector and their work in providing funding, technical capacity and technologies to accelerate the clean energy transition.
The 2025 winners are:
- Deborah Fadeyi, Vectar Energy, Nigeria (Innovator)
- The BRILHO programme, Mozambique (Changemaker)
- Becool Indonesia, Indonesia (Innovator)
- Mee Panyar, Myanmar (Changemaker)
- Soluz Honduras, Honduras (Innovator)
- Jorge Rivera Staff, Panama (Changemaker)
- Youth 4 Sustainability, UAE (Innovator)
The SEforALL Global Forum held from 12-13 March in Bridgetown was co-hosted by SEforALL and the Government of Barbados and welcomed more than 1,300 people from over 70 countries.
The success of this sixth SEforALL Global Forum, held for the first time in Latin America and the Caribbean, demonstrates why this biennial gathering is a crucial platform for fostering collaboration and mobilizing action towards a sustainable future.
Media Contacts
Sherry Kennedy, Director of Communications: [email protected] / [email protected] | +43 676 486 2425
Robert Magori, Senior Communications Specialist: [email protected] | +43 676 846 727 240
About SEforALL
Sustainable Energy for All is an independent organization, hosted by UNOPS, with a global mandate to accelerate progress on the energy transition in emerging and developing countries. We work at the intersection of energy, climate, and development. We collaborate with governments and partners worldwide to end energy poverty, accelerate the deployment of renewable energy solutions, and combat climate change. Learn more about our work at www.SEforALL.org
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SOURCE Sustainable Energy for All
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