According to the latest industry report, driven by a surge in utility-scale projects, Africa is set to achieve the fastest-ever growth rate in solar power by 2025, with new solar installations potentially exceeding six times last year's annual additions by 2029.
The Global Solar Council (GSC) reported on Tuesday that Africa added approximately 4.5 gigawatts of solar capacity in 2025, marking a 54% year-on-year surge. This not only broke the 2023 record but also exceeded mid-term projections. Among them, South Africa led with 1.6 gigawatts, followed by Nigeria's 803 megawatts and Egypt's 500 megawatts. By 2029, Africa is projected to accumulate over 33 gigawatts of new solar capacity. The report emphasized that unlocking this potential hinges on aligning financing, planning, and regulations with market realities.
Leaders of some of the world's largest solar microgrid companies said last week that achieving universal electricity access in African countries by 2030 could require up to $46 billion in investment. These companies-including the largest operator, Husk Power Systems-estimate that approximately $28 billion would come from debt financing, $14 billion from equity investments, and an additional $460 million from grants and subsidies.
