Africa-Press. Africa recorded its fastest-ever growth in solar power in 2025, driven by a surge in utility-scale projects. The continent could add more than six times last year’s annual capacity by 2029, according to an industry report cited by Bloomberg.
Africa added around 4.5 gigawatts (GW) of new solar capacity in 2025, a 54% increase year on year, surpassing the record set in 2023 and exceeding medium-term forecasts, according to the Global Solar Council, as reported by Bloomberg.
South Africa led additions with 1.6 GW, followed by Nigeria with 803 megawatts and Egypt with 500 megawatts.
Expected surge to 2029 and financing needs
Data cited by Bloomberg project that Africa could install more than 33 GW of solar capacity by 2029, alongside parallel growth in distributed systems and utility-scale projects across a growing number of countries.
The report notes that achieving this pathway “depends on aligning financing, planning, and regulation with market realities.”
Executives at several major solar mini-grid companies said roughly $46 billion will be needed by 2030 to meet electrification targets in 29 African countries participating in a World Bank–backed program, according to Bloomberg.
They estimate the total would comprise:
– about $28 billion in debt;
– $14 billion in equity;
– $4.6 billion in grants and subsidies.
Two paths for the energy transition
Bloomberg notes that Africa is effectively pursuing two parallel energy transitions:
– a government-led transition focused on grid-connected, utility-scale solar projects financed by public and development funds;
– a private-sector-driven transition powered by rooftop systems, commercial installations, and distributed solutions adopted by households and businesses.
However, financing frameworks are “struggling to keep pace,” as around 82% of clean energy funding in Africa still comes from public and development sources, leaving capital structures largely geared toward large projects.
“Africa’s hope”
Sonia Dunlop, CEO of the Global Solar Council, said in a statement accompanying the report, cited by Bloomberg, that “solar and storage are Africa’s hope.”
She added: “These are the technologies that can deliver energy access, sustainable development, green growth, and resilience to natural disasters.”
Against this backdrop, solar deployment across the continent is accelerating at an unprecedented pace, while realizing its full potential will hinge on the ability of financing and regulatory systems to keep up with a rapidly evolving market.
