#Clean Energy #Barbados #SEforALL #Bridgetown

Over $900 Million for Clean Energy Transformation at SEforALL Global Forum 2025

The SEforALL Global Forum held in Bridgetown, Barbados, from March 12-13, 2025, marked a significant milestone in the push for sustainable energy solutions. With a collective commitment of over $900 million from global partners, the forum aims to boost access to energy and expedite the transition toward renewable resources.

Key Initiatives Announced

During this pivotal meeting, several significant funding initiatives were brought to light:

1. DRE Fund Nigeria

Aimed at enhancing Nigeria's energy access, a partnership including the Nigeria Sovereign Investment Authority (NSIA) and SEforALL unveiled a $500 million Distributed Renewable Energy (DRE) fund. This initiative focuses on developing and financing mini-grids, domestic solar systems, and innovative energy storage solutions.

2. First Loss Capital Fund

Furthermore, Allied Climate Partners launched a $250 million first loss capital fund designed to spur global investments in clean energy. An additional $130 million fund was specifically allocated to enhance green finance in the Caribbean region.

3. Results-Based Financing

Collaborating with the European Union, SEforALL secured a $20 million commitment for results-based financing. This funding will support electric mini-grids and electrification of rural homes in Sierra Leone, showcasing the potential of innovative financing mechanisms in driving renewable energy access.

4. ZE-Gen Initiative

In a bid to replace fossil fuel generators, the IKEA Foundation pledged over €11 million to the ZE-Gen initiative, which focuses on transitioning away from fossil fuels across Sub-Saharan Africa, South Asia, and the Indo-Pacific region.

5. Clean Cooking Program

Additionally, a significant investment ranging from $3.5 to $5 million was announced for the 'Forward7 Clean Cooking' program. In collaboration with the Global Electric Cooking Coalition (GeCCo) and UK Aid, this initiative targets clean cooking solutions in Sierra Leone aligning with the nation’s Energy Transition and Green Growth Plan.

National and Regional Energy Initiatives

Several countries also leveraged this platform to announce their energy transition plans:

• - Barbados launched its Energy Transition and Investment Plan (ETIP), aimed at achieving net-zero emissions by 2035, presented by Prime Minister Mia Amor Mottley.
• - Pakistan introduced collaborative efforts to develop its national energy transition pathway alongside SEforALL.
• - The world of motorsport is not excluded; Formula E declared its intention to engage with UN-led Energy Compacts.
• - The GFANZ Caribbean Chapter was also launched, supporting the mobilization of private capital for local investments.

Introduction of New Financing Collective

The forum also saw the introduction of a new financing collective focused on manufacturing renewable energy technologies in Africa, connecting financial resources with local producers to bolster green financing and enhance renewable energy production within the continent.

Global Recognition through Energy Heroes Awards 2025

Recognizing innovative contributions to sustainable energy, the 2025 Energy Heroes Awards honored seven groundbreaking initiatives across various regions, including:

• - Deborah Fadeyi from Vectar Energy, Nigeria and initiatives from Mozambique, Indonesia, Myanmar, Honduras, and youth-driven projects in the UAE, acknowledging their transformative efforts in clean energy.

The SEforALL Global Forum, having drawn over 1,300 participants from more than 70 countries, is a strong indication of the global commitment towards a future powered by clean and sustainable energy. This edition not only underscores the importance of cross-sector collaboration but also the urgent need to expedite initiatives focused on sustainable development amidst increasing energy demands.

For more information about SEforALL and its efforts in promoting clean energy, visit www.SEforALL.org.