African energy stakeholders are set to meet leading international businesses to discuss investment partnerships at the fourth edition of the Powering Africa Summit. The event will take place at the Marriott Marquis Hotel in Washington D.C. USA from 28 February to 2nd March 2018. This is an opportunity for U.S. Governmental agencies and leading businesses to unite to explore partnerships that will provide predictability and security in the development phase of energy projects in Africa.
In numerous conversations with EnergyNet, Department of State and Department of Energy communicated a clear determination to play a greater role in Africa, promoting commercial partnerships and progressing deals at an increased pace which will be measured to help navigate bottlenecks more effectively.
Whilst the market has hesitated in some key economies, the likes of Uganda, Cote D’Ivoire, Senegal, Zambia and Ghana are booming with projects including the multibillion-dollar Uganda-Tanzania Oil Pipeline, which has investors buzzing.
“South Africa has struggled over the last 24 months to finalise the renewable IPPs, these projects are now progressing because of increased localisation and BPE engagement which will allow these PPAs to finally be signed in the coming weeks. This will trigger the Gas IPP Programme which will be a huge opportunity for foreign investors and gas providers as well as being transformative for the development of the country,” said Simon Gosling, Managing Director of EnergyNet.
On a recent trip to South Africa, U.S. Secretary of Energy Rick Perry noted how energy increases security for the young. An obvious corollary is how increased security increases confidence which enables better learning, stronger ideas and employment, and in the end a more ready and able consumer – which will really turn the lights on across the continent.
From these perspectives, Africa should be emboldened to negotiate a greater volume of deals and at the 4th Powering Africa Summit, a significant number of these conversations will commence.
US intergovernmental agencies confirmed for the summit including OPIC, Power Africa and USAID are increasing their objectives for the African continent as well as their involvement in the development of projects from a more varied mix of technologies.
What delegates think about the summit