July Newsletter

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Commerce Secretary Pritzker officially signs a memorandum of understanding with senior Ghanaian
Government officials focusing on strengthening the country's energy sector

Letter from the Coordinator: Reflections from a Year with Power Africa

In late June 2013, President Obama officially launched the "Power Africa" initiative during his visit to Cape Town, South Africa. Read this letter from the President's Power Africa and Trade Africa Coordinator, Andy Herscowitz, to learn more about progress made during the year of the initiative.Read More


AfDB Helps Launch the First Renewable Energy Private Equity Fund in Africa

The African Renewable Energy Fund, the first pan-African renewable energy private equity fund, was launched in March of this year. The Fund is half-way to its goal of $200M in committed capital, and key investors to-date include the Sustainable Energy Fund for Africa (SEFA) and the African Development Bank (AfBD). Read more


Bigger and Better: Power Africa Off-Grid Energy Challenge Intensifies in Round II

The U.S. African Development Foundation (USADF) is collaborating with General Electric Africa to launch Round 2 of the Power Africa Off-Grid Energy Challenge in Ethiopia, Ghana, Liberia and Tanzania. Round 2 is catalyzing an even stronger batch of entries and includes an expanded panel of experts to select winners. Read more


Powering Africa and Spurring Commerce

As part of Power Africa's whole-of-government approach, the U.S. Department of Commerce is helping to streamline power project negotiations and shorten development cycles. The Department is collaborating with African governments and international organizations to identify and apply strategies to improve "bankability" of Power Africa projects, such as drafting effective Power Purchase Agreements or PPAs, and accelerating financial close of Power Africa transactions. Read more


Energy Secretary Moniz Announces "Beyond the Grid"

In early June, during the U.S.-Africa Energy Ministerial in Ethiopia, U.S. Department of Energy Secretary Moniz announced Power Africa's "Beyond the Grid" sub-initiative. Read more


My Personal Journey as a Tanzanian Working for Power Africa

Read a short narrative from Tanzania's Power Africa Transaction Advisor Steve Wasira Jr., on his work helping his home country of Tanzania move forward in achieving its long-term energy goals. Read More


PHOTO GALLERY

View recent photosfrom our Public Private Partnerships in Energy Sector Training Program in Kenya. Click here


Notable Transactions

Lake Turkana Wind Project, Kenya:
Signed the financing agreements for the 310MW project with a group of lenders in a syndication led by the African Development Bank. Recently, OPIC approved a guaranty for the project of up to US $250 million.

Corbetti Geothermal, Ethiopia:
Project sponsor Reykjavik Geothermal and the African Union Commission signed an agreement for up to US$ 8 million in grant funding from the Geothermal Risk Mitigation Fund (GRMF) to permit the drilling of the initial two wells for the project.

Azura-Edo IPP, Nigeria:
At a "Transaction Closure Summit" key documents necessary to permit commencement of construction of the power plant were signed, including; i) the World Bank's Partial Risk Guarantee ii) the Power Purchase Agreement, and iii) the Gas Supply Agreement.

GE Enters Joint Development Agreement for Phase I of the Ghana 1000 Power Park, Ghana:
GE entered into a joint development agreement with its partners (Finagestion and Endeavor Energy - Denham Capital) for Phase 1 of the 1100MW power park, which includes the development of the first LNG-to-power facility in Africa.

MCC Second Compact in Ghana:
The Millennium Challenge Corporation (MCC) commenced negotiations with the Government of Ghana on its second compact in that country. The total value of the Compact comes to US$ 535.6 million, which includes a 7.5% contribution by the GOG. Board review is expected in early in Q3.


POWER AFRICA NEWS

US launches $1 billion push for off-grid Africa power
June 4 | Yahoo News (AFP)

Africa to Quadruple Renewables on 'Huge Potential,' Irena Says
May 6 | Bloomberg

US House approves Obama's plan to light Africa homes
May 13 | Daily Nation (Kenya)

OPINION

How African entrepreneurs are bringing power to the people
May 7 | World Economic Forum Blog

Why we should all have Africa on our minds
April 13 | International The News

PARTNER COUNTRIES

Ethiopia Working to Increase Private Investment in Energy
June 4 | Ethiopian News Agency

(Liberian) EPA Calls for Access to Energy
May 1 | The New Dawn

Ghana Needs an Ambitious Energy Plan
May 5 | The Chronicle

Solar Energy Lights Up Lives in Kenya
April 29 | Deutsche Welle

(Nigeria) FG to Invest U.S. $1.6 Billion in Power Transmission
June 12 | Daily Independent

(Tanzania) District Engineers to Be Trained On Renewable Energy
April 7 | Daily News

UPCOMING EVENTS

U.S.-Africa Leaders Summit
August 5-6
Washington, DC

UN Climate Summit
September 23
New York, New York

UN General Assembly
September 24 - 29
New York, New York

GEA Geothermal Expo
September 28 - October 1
Portland, Oregon

 

Last updated: June 07, 2016

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