Norway pledges US$51 million to clean energy transition initiatives

On November 10, 2022, Norway announced two pledges totaling NOK500 million (US$51 million) to support clean energy initiatives through the Norwegian Agency for Development Cooperation (Norad).

In particular, Norway pledged NOK300 million (US$30 million) in funding to clean energy projects through an additional grant from Norad to the Sustainable Energy Fund for Africa (Sefa). Specific partner countries were not mentioned.  

The second pledge was for NOK200 million (US$20 million) from 2022-2028 to the Beyond the Grid Fund for Africa. The pledge will support projects with the goal of helping over 6 million people gain access to electricity in Burkina Faso, Congo, Liberia, Mozambique, Uganda, and Zambia. 

The Beyond the Grid Fund was established by the Nordic Green Bank (Nefco). Nefco is an international financial institution (IFI) financing initial scale-up of Nordic green solutions on international markets. As a special fund under Nefco, the Beyond the Grid fund will offer tailored financing solutions to green energy companies. 

Press release – Ministry of Foreign Affairs (in Norwegian)

Press release  Ministry of Foreign Affairs (in Norwegian)