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The British International Investment (BII), the African Development Bank (AfDB), and the European Bank for Reconstruction and Development (EBRD)—have pledged a combined $479.1 million to Obelisk Solar Power, a project vehicle owned by renewable energy company Scatec.

Terra Industries, a defence technology company based in Nigeria, has secured an additional $22 million in funding, one month after closing an $11.8 million round, bringing its total investment haul to about $34 million.

FSD Africa Investments (FSDAi) and Allied Climate Partners (ACP) have jointly committed $50 million to support the first close of the African Transition Acceleration Fund (ATAF), a new investment vehicle aimed at advancing Africa’s energy transition.