Nairobi: The Common Market for Eastern and Southern Africa (COMESA) has announced the launch of the distributed renewable energy and clean cooking Project Preparation Facility (PPF), supported by the World Bank. The initiative is a part of the larger regional Acceleration of Sustainable and Clean Energy Access Transformation (ASCENT) program, which aims to provide electricity to 100 million people across Eastern and Southern Africa.
According to Kenya News Agency, the PPF will assist governments and private sector players in developing investment-ready energy projects through a demand-driven approach. Speaking at the Alliance for Rural Electrification Energy Access Investment Forum 2026, COMESA Assistant Secretary General Amb. Dr. Mohammed Kadah emphasized the urgent need for reliable electricity in the region, where millions still lack access and many households depend on traditional biomass for cooking, posing health and environmental challenges.
Dr. Kadah highlighted that while distributed renewable ener
gy and clean cooking technologies are available, many projects struggle to achieve bankability due to gaps in project preparation, including technical structuring, financial modeling, and risk allocation. The PPF aims to bridge these gaps by supporting project preparation and structuring to meet the standards required by both public and private financiers, including development finance institutions and commercial investors.
The initiative marks a significant step towards overcoming barriers to energy access by building a pipeline of bankable projects capable of attracting private investment and delivering large-scale impact. Dr. Kadah urged governments, developers, financial institutions, and development partners to collaborate in creating an enabling environment and scaling up investment-ready energy projects across the region.
ASCENT project technical manager Ahid Maeresera noted that smaller companies often lack the capacity for project preparation, particularly in environmental and social aspects, which
affects their ability to secure financing. The PPF is designed to support these companies by providing necessary assistance in legal, environmental, social, and financial structuring and modeling. Maeresera explained that the World Bank’s financing can be provided directly to companies or through banks, with technical assistance available when needed.
The World Bank’s support through the International Development Association (IDA), which offers low-interest loans to low-income countries, will be instrumental in the ASCENT program. Other entities are expected to contribute an additional USD 10 billion, creating a total package of USD 15 billion to support this transformative initiative.
