Today at the Powering Africa Summit, Power Africa partners launched a roadmap to meet President Obama’s goals of adding 30,000 megawatts and 60 million connections across sub-Saharan Africa by 2030.
The U.S. Government committed an initial $7 billion that has leveraged nearly $43 billion in commitments from over 120 public and private sector partners. The Power Africa Roadmap outlines how it will add 30,000 MW by maximizing value from existing transactions, advancing new opportunities for deal flow, and increasing the efficiency of existing generation. It also highlights how Power Africa will add 60 million connections by scaling up grid roll-out programs and intensifying its Beyond the Grid efforts.
“With a robust financial foundation in place and an expanding group of partners committed to producing results, Power Africa is breaking the logjam on energy infrastructure and keeping eager capital flowing to worthy projects,” said U.S. Agency for International Development Administrator Gayle Smith. “Building on our progress so far, this Roadmap lays out a clear path to achieving President Obama’s ambitious vision of bringing electricity to 60 million African homes and businesses. And the Power Africa Tracking Tool offers unprecedented insight into the actual deals that will facilitate that success.”
“Sub-Saharan Africa is rich in renewable energy sources-solar, hydropower, geothermal-yet only one in three people has access to power. For those who have electricity, the supply is often unreliable; sub-Saharan Africa loses 2.1 percent of gross domestic product from blackouts alone,” said World Bank President Jim Yong Kim. “We must find solutions-in our partnerships with African governments and the Power Africa initiative-that will give millions of African people the opportunity for a better life with something most of us take for granted: access to electricity.”
“Africa is tired of being in the dark. Lack of electricity puts a break on Africa’s economic growth and development. I applaud President Obama’s leadership and bold Power Africa Initiative,” said African Development Bank President, Dr. Akinwumi Adesina, who recently launched the Bank’s New Deal on Energy for Africa, which aligns with the Power Africa Roadmap, last week at the World Economic Forum. “To accelerate universal access to electricity in Africa by 2025, the African Development Bank developed the New Deal on Energy for Africa and launched the Transformative Partnership on Energy for Africa. Working together with Power Africa, private sector, development partners and African governments, we will light up and power Africa.”
Also launched today, the Power Africa Tracking Tool (PATT) allows for easy, real-time tracking of transactions across the continent. The PATT provides previously unavailable data that will increase transparency and drive the competitiveness of African markets. The iPhone app and web portal allow for easily accessible information on 45,000 MW in power transactions from stakeholders on the ground. A release of the Android app is planned for February 2016.
President Obama launched Power Africa in 2013-a partnership to help double access to electricity in sub-Saharan Africa, working with African governments, the private sector, and bilateral and multilateral development partners. Since its launch in 2013, Power Africa has helped projects expected to generate over 4,300 MW of new, cleaner electricity reach financial close and is actively supporting an additional 25,000 MW of projects. Over three-quarters of these projects involve clean, renewable technology. From wind parks in Kenya, to solar arrays in Rwanda, and geothermal generation in Ethiopia, Power Africa is putting the continent’s vast renewable resources to work. Power Africa’s aim is to help African governments build cleaner, more climate-resilient power sectors that serve all people.
Power Africa partners will discuss the Roadmap and Tracking Tool in greater detail at EnergyNet’s Powering Africa Summit in Washington, D.C. today and tomorrow. The Summit is convening energy sector leaders from around the world to identify new opportunities for partnership on projects across Africa.