The African renewable energy sector is set to take center stage at the Renewable Energy Forum of Africa (REFA 2026), scheduled to take place on November 25-26 in Lagos, Nigeria. The event, organized by the African Solar Industry Association (AFSIA) with support from SolarPower Europe and institutional sponsorship from Nigeria's Rural Electrification Agency (REA), will bring together investors, entrepreneurs, and government representatives to discuss financing for energy projects.
Nigeria is currently leading the regional solar market, with 132 MWp of mini-grid solar capacity, more than double that of Angola, which ranks second. In the commercial and industrial segment, Nigeria has a monitored capacity of around 385 MWp, placing it fourth on the continent. According to data from AFSIA, about 76% of the currently operational capacity was installed since 2022, indicating the sector's recent expansion.
The renewable energy sector is attracting significant international financing. The DARES program, backed by the World Bank with $750 million in funding, aims to install 1,350 solar mini-grids and improve access to electricity for approximately 17.5 million people. Another financial instrument, the Distributed Renewable Energy Fund, worth $300 million, is designed to support decentralized production projects and autonomous solar systems.
Nigeria is home to a private solar module assembly factory with a 100-megawatt capacity and is preparing another unit with a planned capacity of one gigawatt. Angola, as the second-largest African market for solar mini-grids, demonstrates its participation in the expansion of decentralized electricity supply solutions. These infrastructures can contribute to the supply of rural communities and local economic activities in regions with limited access to conventional networks.
The REFA 2026 program includes discussions on financing large projects, electricity purchase contracts, energy storage, electric mobility, and combating the marketing of counterfeit equipment. Business meetings are also planned to bring together investors, technology suppliers, and project promoters.
The event's opening speech will be delivered by Abba Aliyu, the managing director of REA. This initiative follows previous editions held in Cape Town, Nairobi, and Accra. The forum aims to mobilize investments to accelerate the development of renewable energies on the continent.
The growth of the renewable energy sector in Africa presents opportunities for diversifying electricity production, improving supply, and mobilizing new investments. As the sector continues to expand, countries like Angola and Nigeria are poised to play a significant role in shaping the continent's energy future.
Key points
- REFA 2026 to discuss financing and development of renewable energy projects in Africa
- Nigeria leads the regional solar market with 132 MWp of mini-grid solar capacity
- International financing supports large-scale renewable energy projects in Africa
