Momentum Continues to Build for Africa's Nuclear Era

Hey, Joseph Ibeh here. This is an evening update - let’s get right into it!

Africa’s nuclear debate got a lot more tangible this week. Ethiopia officially launched its Nuclear Power Program and operationalized the Ethiopian Nuclear Energy Commission, positioning a “mega” nuclear plant as a core pillar of a USD 30 billion development initiative announced by Prime Minister Abiy Ahmed. At a high-level event in Addis Ababa, ministers and the IAEA framed nuclear as the answer to surging industrial and digital power demand and to hydropower vulnerability, with a mandate that extends from grid baseload to food security and healthcare.

In parallel, a new Rockefeller Foundation report modelled how next-generation nuclear (including SMRs) could supply up to 30% of total electricity in Ghana, Nigeria, Rwanda, and South Africa by 2050, while cutting total system costs by up to 31% compared with renewables-only pathways. The key finding: nuclear and renewables are complements, not rivals. Nuclear reduces the storage and transmission needed to reach net-zero power systems.

The Foundation explicitly positions philanthropy as a catalytic, early-stage enabler of nuclear, funding regulatory prep, public engagement, and de-risking transactions in countries that choose to pursue the technology.

Ethiopia is not an outlier. Ghana, Nigeria, Kenya, Uganda and Rwanda all have nuclear in their long-term power plans, while Rwanda and Senegal have just joined the global pledge to triple nuclear capacity by 2050.

Crucially, the multilateral centre of gravity is shifting too. In June, the World Bank ended its decades-long ban on nuclear finance and, days later, signed a landmark partnership with the IAEA to support safe nuclear deployment, the life extension of existing fleets, and the development of small modular reactors in developing countries.

In contrast, the African Development Bank remains a holdout. Vice-President Kevin Kariuki said in June he “cannot be an evangelist of nuclear in Africa” and sees it as impractical for most countries today. AfDB still maintains its own nuclear-funding ban, even as voices like Energy for Growth Hub argue the incoming president, Sidi Ould Tah, should reposition the Bank as a sober nuclear gatekeeper and catalytic co-financier.

Is this momentum a clear signal of a nuclear turnaround in Africa?

For a decade, nuclear was dismissed as “too slow and too expensive” for Africa. But with the Rockefeller Foundation—a major development voice—backing the data and the World Bank’s U-turn, we expect a continued positive shift in Development Finance Institution (DFI) policies. Watch for a “permissive environment” to emerge where SMRs (Small Modular Reactors) become eligible for green financing in 2026. The race is no longer just for solar contracts; it is for the first bankable SMR pilot in nascent nuclear countries.

For African governments now sketching nuclear roadmaps, that signals something simple but new: nuclear can sit on the menu of World Bank-backed options alongside solar, wind, grids, and storage, rather than outside the tent.

However, there are still concerns that first-of-a-kind nuclear in countries with weaker institutions, small grids, and limited balance sheets could crowd out cheaper electrons (solar, wind, efficiency) and introduce import governance, waste-management, and vendor-lock-in risks that many regulators are not yet equipped to manage. The upshot: Africa’s nuclear segment is finally riding a genuine wave of interest, but it will only become investable in a handful of markets that pair ambition with credible institutions, robust grid plans, and disciplined procurement. That’s where investors should be watching.

Deals & Investment

Cabo Verde: Cabeolica wind + BESS expansion commissioned. The country adds 13.5 MW of new wind and 26 MWh of distributed battery storage across several islands, backed by AFC, EIB Global, and AfDB, to boost wind’s share of the power mix and stabilise island grids. AFC Presser

Egypt: Infinity Power breaks ground on 200 MW Ras Ghareb wind farm. Infinity Power starts construction on a 200 MW wind project in the Gulf of Suez and signs an EPC contract with POWERCHINA HDEC under Egypt’s NWFE initiative, targeting power for 300,000+ homes and 400,000+ tonnes CO₂ savings annually. Infinity Power

Namibia: AfDB approves $10m to catalyse large green hydrogen-linked renewables. The African Development Bank’s Board approves $10 million in catalytic funding for Hyphen Hydrogen Energy’s large green hydrogen project, anchored on significant new renewable power capacity in Namibia. AfDB

Egypt: Scatec, Norfund & EDF Power Solutions close equity partnership on 1.1 GW Obelisk hybrid. Scatec signs shareholder agreements for 1.1 GW of solar plus 100 MW/200 MWh of storage at Obelisk in Upper Egypt, with Norfund taking 25% of the holding company and EDF Power Solutions 20% of the SPV. Scatec

Zambia: Breaks ground on 100 MW Chirundu solar plant near Kafue Gorge. ZESCO and partners launch a 100 MW solar project and associated grid infrastructure near the Kafue Gorge, aimed at easing reliance on hydropower and improving security of supply. ZM Ministry of Energy

South Africa: 273 MW Grootfontein solar reaches commercial operation. Scatec’s Grootfontein plant, the first REIPPPP Bid Window 5 solar project to reach COD, begins delivering ~700 GWh/year under a 20-year PPA, avoiding ~630,000 tonnes of CO₂ annually. Scatec

Regulation and Policy Updates

South Africa: NERSA publishes draft Electricity Trading Rules for consultation that would formalize electricity traders, enable bilateral contracting, and open the way for more competitive wheeling and private power trading over Eskom and municipal grids. NERSA

Ghana: Digital net-metering portal launched to accelerate rooftop solar. The Energy Ministry and ECG roll out an online portal to submit, track, and approve net-metering applications, aiming to cut processing delays and boost residential and C&I solar adoption. MyJoyOnline

Morocco: Morocco’s water minister confirms a plan to source 60% of potable water from desalination plants — many powered largely or fully by renewables — expanding the pipeline of grid-connected and co-located solar and wind assets. Reuters

The Radar

• Namibia – 6 × 20 MW Solar IPP Tender (NamPower). NamPower has invited bids for six 20 MW solar PV projects; deadline for submissions is expected in Q1 2026, with pre-qualification and clarification windows now open. NamPower
• Zambia – 25 MW Solar EPC Tender (Kiyona Energy). Kiyona Energy has launched an EPC tender for a 25 MW solar plant near Lusaka’s Waterworks substation; bids are due 9 January 2026, with documents available via Zambia’s e-procurement portal. Zambia e-Procurement
• Africa Energy Indaba 2026 – Grids & Transmission Track. Taking place 3–5 March 2026 in Cape Town, this year’s Indaba will run a dedicated programme on grid investment, interconnectors, and smart networks — a key forum for anyone playing in transmission or storage. Africa Energy Indaba
• Enlit Africa 2026 – Power & Grid Summit. Enlit Africa returns to Cape Town in May 2026, with agendas expected to heavily feature distributed generation, wheeling, and utility reform; early-bird registration opens in the coming weeks. Enlit Africa