Thomas Benedikt van Lith

• In recent months, sustainable development and the achievement of the United Nations Sus- tainable Development Goals has gained unprecedented prominence. SDG 7 aspires to achieve access to electricity for the entire world population by 2030 and - at the same time - to significantly increase the share of renewable energy in the power mix. This target trans- lates into ambitious electricity supply and renewable energy asset growth scenarios for Sub- Saharan Africa, the least developed region worldwide. Though theoretical renewable energy potential is abundant and capital generally available, progress has been slow. Aside funds from donors and Development Finance Institutions, private commercial capital is required to accelerate the progress. Project Finance has successfully attracted private funds for renew- able energy assets in other jurisdictions but has played a negligible role in the energy tran- sition in Sub-Saharan Africa. A variety of reasons are identified that impede their implemen- tation, which are categorised into (i) unsatisfactory project pre-requisites and preparation, (ii) challenging host country conditions, (iii) elevated non-financial project risks and (iv) risky financial transaction structures. While a review of potential mitigation measures reveals that the risk factors are theoretically addressable, most require a multi-stakeholder alignment and exhibit some implementation complexity. Putting them into practice will therefore take time and will require a high level of commitment from host governments, sponsors, and fi- nancial institutions. While pressure and urgency are mounting, time will tell whether the pro- ject parties are more successful going forward.