ECOWAS Launches $75 Million Renewable Energy Facility to Boost Regional Growth

The Economic Community of West African States (ECOWAS) has launched a $75 million Renewable Energy and Energy Efficiency Facility to promote clean energy solutions and sustainable development across the region. Announced by ECOWAS President Dr. Omar Touray on December 12, the facility will operate through a blended finance structure, offering grants, loans, and guarantees via competitive calls for proposals. The initiative aims to support renewable energy projects and energy efficiency measures, addressing key energy challenges in West Africa.

“This $75 million blended finance facility will provide clean energy solutions for the ECOWAS region through demand-driven, competitive proposals,” said Dr. Touray.

A key focus of the facility is financing the 6,800-kilometer Nigeria-Morocco Gas Pipeline, which will transport 30 billion cubic feet of natural gas annually. The pipeline is expected to be a critical part of regional energy infrastructure, with potential expansion to European markets.

The facility will also support food security by boosting rice production, with planned investments of $15 million to $19 million to improve storage, milling, and mechanization, aiming to produce 33 million tons of milled rice.

Dr. Touray highlighted the importance of regional integration projects, including harmonized aviation charges, affordable tariffs, and improved management of shared water resources.

The Renewable Energy and Energy Efficiency Facility underscores ECOWAS’s commitment to tackling regional challenges through investments in sustainable energy, food security, and connectivity, with the goal of fostering economic growth and resilience in its member states.