Dakar, October 8, 2025 – Abdou Diouf International Conference Center (CICAD), Diamniadio.

The Sovereign Fund for Strategic Investments (FONSIS), in collaboration with the Senegalese Ministry of Energy, Petroleum and Mines (MEPM), the Global Green Growth Institute (GGGI), and the African Climate Foundation (ACF), has officially launched the Renewable Energy and Energy Efficiency Fund (REEF). The event was held alongside the Invest in Senegal Forum and brought together representatives of the International Partners Group (IPG), as well as public and private stakeholders and strategic donors. 

The REEF is part of the Just Energy Transition Partnership (JETP) established between Senegal and the IPG on June 22, 2023. This partnership aims to mobilize €2.5 billion in new and additional financing over the next 3 to 5 years to enhance universal access to energy and accelerate the transition toward a low-carbon electricity mix. The REEF Fund serves as a central financing mechanism designed to stimulate private investment in renewable energy and energy efficiency projects, helping achieve 40% of installed renewable energy capacity by 2030. 

“The REEF represents a strategic instrument to attract local and international capital, complementing the public financing already committed. It reflects Senegal’s ambition to build an inclusive and sustainable energy transition,” said Mr. Biram Souley DIOP, Senegal’s Minister of Energy, Petroleum, and Mines. 

The launch ceremony featured panel discussions, technical presentations, and interactive exchanges that fostered a structured dialogue among donors as well as local and international financial institutions. These discussions led to concrete expressions of interest, referred to as “soft commitments,” and a coordinated roadmap outlining the next steps for structuring and deploying the fund. 

Over the coming months, the process will continue with the mobilization of initial financial commitments, the identification of priority projects, and the establishment of a multi-stakeholder governance framework to ensure transparency and effectiveness. The REEF aims to become the reference mechanism for channeling private sector financing under the JETP, while actively contributing to Senegal’s green growth trajectory. 

As explained during the event by Mamadou Konate, Acting Country Representative for GGGI Senegal, the launch of REEF continues the technical assistance GGGI provides to Senegal and other countries in the region as part of their energy transition efforts. “The launch of REEF is a continuation of the technical support we are providing to Senegal and other countries in the region as part of the energy transition. It demonstrates how public-private partnerships can play a leading role in achieving climate goals,” concluded Mr. Konate. 

About the Global Green Growth Institute (GGGI)   

The Global Green Growth Institute (GGGI) was founded as a treaty-based international, inter-governmental organization in 2012 at the United Nations Conference on Sustainable Development. GGGI supports its Member States in transitioning their economies toward a green growth model that simultaneously achieves poverty reduction, social inclusion, environmental sustainability, and economic growth. With 53 Member States and 30 Partner countries and regional integration organizations in the process of accession, GGGI delivers programs and projects in over 50 countries. These initiatives encompass developing innovative green growth solutions, technical support, capacity building, policy planning & implementation, and assistance in building a pipeline of bankable green investment projects, project financing, investments, and knowledge sharing. GGGI’s work contributes to its Member States’ efforts to fulfill the Sustainable Development Goals and the Nationally Determined Contributions to the Paris Agreement.   

Aïssata Coumba BARO 

Communications Consultant 

aissata.coumba@gggi.org 

GGGI Sénégal 

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