The International Solar Alliance (ISA) today announced that the Global Solar Facility (GSF), a payment guarantee fund formed by ISA to stimulate investments into solar power projects, is set to receive a capital contribution of $35 million dollars.

• The Global Solar Facility (GSF) is designed to catalyze solar investments in underserved segments and geographies across Africa, unlocking commercial capital in the process. Last year, the ISA Assembly approved the Global Solar Facility, which is expected to attract private capital to flow into off-grid solar projects, rooftop solar projects, and productive use solar projects.
• This financing vehicle, bolstered by payment guarantees, insurance, and investment funds, aims to mitigate project risks, provide technical assistance to address regulatory gaps, reduce currency risks, and resolve contractual and financial uncertainties in the solar energy sector.
• The Government of India is considering a $25 million investment as capital contribution in the GSF in addition to $10 million coming from the ISA. Bloomberg Philanthropies and CIFF have also committed their support to the GSF.