Sub-Saharan Africa has abundant renewable energy (RE) resources, yet it faces a significant energy infrastructure deficit in transitioning from fossil fuels to RE, a shift vital for energy security, economic growth, and environmental sustainability. Unlike developed economies where private investment drives RE expansion, firms in the region face a $1.9 trillion investment gap needed to meet the 2030 decarbonization targets. This financial constraint limits RE firms’ ability to scale projects despite growing demand for clean energy. Guided by Resource Dependence Theory (RDT), this study employs a case study methodology to analyze data from an RE firm, financial institutions, and government entities to identify the financial barriers facing RE firms and their strategic responses. The study elucidates how firms navigate institutional constraints, investor expectations, and governance structures to unlock financial pathways. The findings reveal that project viability, institutional frameworks, and stakeholder power dynamics are key determinants of financing success. While access to capital is often perceived as the primary challenge, investor confidence depends on factors such as creditworthy offtakers, strong governance, risk mitigation strategies, and ultimately project viability. High capital costs, currency fluctuation risks, and limited concessional funding further constrain financial accessibility. To overcome these challenges, firms must diversify funding sources and engage stakeholders to enhance project bankability while reducing dependence on capital allocators. The study contributes to theory by advancing a conceptual framework for RE financing in emerging economies and to practice by offering actionable strategies for policymakers, investors, and firms. Recommendations include hybrid financing models (e.g., government equity participation) to balance resource access with autonomy and corporate political action to shape favorable policies. By bridging institutional gaps, RE firms can incentivize governments to implement policies that improve project revenues and lower capital requirements, accelerating the clean energy transition.