Multilateral Financier PIDG Plans $1 Billion Annual Green Energy Investment in Africa and Asia
PIDG CEO announces a plan to deploy ~$1 billion yearly into renewable energy across Africa and Asia until 2030, aiming to fill funding gaps left by US policy shifts.
Philippe Valahu, CEO of the Private Infrastructure Development Group (PIDG), stated that the multilateral financier plans to invest approximately $1 billion annually in Africa and Asia until 2030, with funds primarily directed toward renewable energy. The announcement was reported by Bloomberg and relayed by Semafor on October 26, 2026.
PIDG is backed by several Western countries, including the UK, the Netherlands, Switzerland, Australia, and Sweden, and operates in 24 sub-Saharan African nations. Valahu’s comments come as four of PIDG’s five funders trim their aid budgets, raising concerns about the group's ability to sustain this pace of investment.
The project pipeline is seen as helping to fill a hole in renewable energy funding after the Trump administration shut down Power Africa, a US government-led initiative aimed at doubling African electricity access. The administration also pulled its share of investment planned for South Africa’s just energy transition and has pressed the World Bank to back gas projects.