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Power Africa combines the efforts of many U.S. government agencies to apply all the tools that can attract investment to support development of Africa’s power sector. U.S. government efforts will be coordinated to support our African partners to expand capacity, help partner governments and companies implement their goals and commitments, and to provide incentives for new private investment needed to meet Africa’s increasing demand for electricity.
Power Africa: Subject to the availability of funding, USG partners in Power Africa will commit over $7 billion in financial support over the next five years, during which time the initiative aims to increase electricity generation capacity by 5,000 MW. Together with its 36 signatory private sector partners, USG partners in Power Africa can offer a full suite of financial mechanisms for private companies from pre-feasibility to financial close. USAID serves as the lead agency for Power Africa, charged with managing the Secretariat.
- The U.S. Agency for International Development (USAID) will provide $285 million in technical assistance, grants and risk mitigation to advance private sector energy transactions and help governments adopt and implement the policy, regulatory, and other reforms necessary to attract private sector investment in the energy and power sectors.
- The Overseas Private Investment Corporation (OPIC) will commit up to $1.5 billion in financing and insurance to energy projects in sub-Saharan Africa.
- The U.S. Export-Import Bank (Ex-Im) will make available up to $5 billion in support of U.S. exports for the development of power projects across sub-Saharan Africa.
- The Millennium Challenge Corporation (MCC) will invest up to $1 billion in African power systems through its country compacts to increase access and the reliability and sustainability of electricity supply through investments in energy infrastructure, policy and regulatory reforms and institutional capacity building.
- OPIC and the U.S. Trade and Development Agency (USTDA) will provide up to $20 million in project preparation, feasibility and technical assistance grants to develop renewable energy projects. These efforts will be coordinated through the U.S. - Africa Clean Energy Finance Initiative (US-ACEF) and supported by the recently launched U.S. - Africa Clean Energy Development and Finance Center (CEDFC) in Johannesburg, South Africa.
- The U.S. African Development Foundation (USADF) will launch a $2 million Off-Grid Energy Challenge to provide grants of up to $100,000 to African-owned and operated enterprises to develop or expand the use of proven technologies for off-grid electricity benefitting rural and marginal populations.
- In 2014, OPIC and USAID will jointly host an African energy and infrastructure investment conference. The conference will bring investors, developers, and companies together with U.S. and African government officials to demonstrate the opportunities for investment and the tools and resources available from the U.S. government and other partners to support investment.
Last updated: July 15, 2013