Energy-Sector

Annual Powering Africa summit to hold in Washington, USA

An annual summit which will provide opportunity for Africa’s energy sector stakeholders and developers to interface with multilaterals, global investors and technology providers is slated to hold on the 7th to 8th of March in Washington, United States of America.
The summit in 2016 welcomed 620 attendees from 18 countries and whilst 65% of delegates originated from North America, investors from Europe and Asia also participated, seeking partnerships with leading technology companies, governmental agencies, the World Bank, IFC and others to drive forward their African projects already under development.

Fact made available to BusinessDay indicate that the summit is to be supported  by Power Africa, the U.S. government inter-agency created to establish 60 million new household and business connections by 2030, aiding the potential to double the size of some African economies and the spending power of the projected 1.5 billion people.

The summit is also to be supported by the Overseas Private Investment Corporation (OPIC), US Africa Development Foundation and the US Africa Business Center (USABC).
Simon Gosling, managing director of Energy Net Limited, disclosed:  “It’s exciting to be working with the USABC this year. Their members are hugely significant along the energy value chain and clearly doubling efforts to get projects moving, bringing with them much needed bankability for the capitalization of projects.
“Equally exciting is the presence and potential of African gas to power projects. This year those attending will be exposed to crucial Gas-to-Power updates including South Africa’s gas procurement programme, which will create massive opportunities for the winning bidders and their technology partners.
“Additionally, as some countries struggle to stabilise investor confidence [including South Africa itself], their IPP procurement programme in partnership with the Department of Trade and Industry could lead to some 50% of international capital flowing through the country in the coming years.                 
Therefore taking this programme to the home of the World Bank only stresses further the confidence of the Minister, DOE and the procurement team itself – so personally I’m very excited”.
– Original article can be found here.

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