African and European business leaders have unveiled major new investments in renewable energy, infrastructure and industrial development during the recent Africa Forward Summit in Nairobi, with companies pledging roughly €27 billion ($31.5 billion) across nearly 30 projects on the continent.
The summit, jointly hosted by Kenya and France on May 11–12, brought together heads of state, investors and corporate executives seeking to deepen economic cooperation and accelerate Africa’s transition to low-carbon energy systems.
Organisers described the initiative as a “partnership of equals,” an important framing given the historically complex relationship between Africa and European powers, particularly France, whose influence across parts of the continent remains tied to its colonial past.
The announced projects are expected to generate a combined €100 billion ($116.5 billion) in revenue and create more than 600,000 jobs across Africa.
Renewable energy dominates investment commitments
Energy projects attracted the largest share of commitments, accounting for approximately €14 billion ($16.3 billion) of the total announced investments.
French utility giant EDF confirmed plans to develop 2 gigawatts of hydropower projects across several African countries, reinforcing growing investor interest in the continent’s untapped renewable energy potential.
Meanwhile, TotalEnergies outlined more than $10 billion in African investments by 2030, including $2 billion for renewable energy projects in Rwanda and $400 million for clean cooking programmes in Kenya, Uganda and Tanzania.
The French energy company also announced a partnership with Ellipse Projects to build and renovate hospital infrastructure valued at roughly $700 million, highlighting how the summit’s investment agenda extends beyond power generation into broader development infrastructure.
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Kenya and Zambia secure major renewable projects
Several projects announced during the summit focus on expanding renewable electricity capacity and strengthening energy access.
Infrastructure investor Meridiam committed $200 million to double the capacity of Kenya’s Kipeto Wind Farm, while Global Telecom Holding pledged $350 million for a 250-megawatt solar farm in Zambia.
AXIAN Group and its partners also committed $280 million to develop digital and energy infrastructure projects, while Schneider Electric pledged $20 million to its GAIA Energy Impact Fund II, which backs African clean-tech startups.
The summit additionally highlighted growing interest in modernising logistics infrastructure. Shipping company CMA CGM joined African stakeholders in a $700 million upgrade of the Port of Mombasa, introducing energy-efficient smart port systems designed to support next-generation container shipping.
Beyond power generation
The investment announcements extended into transmission networks, agriculture and industrial systems.
Plans were unveiled for modular bridge plants in three countries, alongside a $1.7 billion pipeline network project in Côte d’Ivoire aimed at improving regional energy distribution.
French development bank Bpifrance and OCP Group of Morocco also launched the Seed of Africa Investment Fund, starting with $150 million to support sustainable agro-industrial ventures, including renewable-powered fertilizer production and agricultural innovation.
Africa positioning itself in the global energy transition
African leaders at the summit argued that the continent should not simply participate in the global energy transition but help shape it.
Speaking during the gathering, Kenyan President William Ruto said Africa’s clean energy ambitions must also drive industrial development and economic transformation.
“For Africa, this energy transition must also be an industrial transition,” Ruto said.
Observers say the projects announced in Nairobi could help improve electricity access for the more than 600 million Africans currently living without reliable power, while also positioning the continent as a future hub for renewable energy and green industrialisation.
According to a final summit document obtained by Mongabay, participating governments and companies also committed to supporting low-carbon technologies including hydrogen, hydropower, geothermal energy, waste-to-energy systems and nuclear power as part of Africa’s broader clean energy strategy.
