Power Africa, a U.S. Government-led initiative to double access to electricity in sub-Saharan Africa, has released its annual report. The initiative consists of more than 150 public and private sector partners, which have collectively committed more than $54 billion towards achieving Power Africa's goals. It is among the world's largest public-private partnerships in development history.
The 2017 report highlights how Power Africa continues to lay the foundation for sustainable economic growth in Africa while creating opportunities for American businesses as it makes progress towards its goals of increasing installed generation capacity by 30,000 megawatts (MW) and adding 60 million new electricity connections by 2030.
Since its inception, Power Africa has facilitated the financial close of power transactions expected to generate more than 7,200 MW of power in sub-Saharan Africa. The 80 Power Africa transactions that have concluded financing agreements are valued at more than $14.5 billion, and Power Africa projects have generated more than $500 million in U.S. exports. In addition, Power Africa has facilitated more than 10 million electrical connections, which have brought electricity to more than 50 million people for the first time.
Over the next year, Power Africa will work with more than 100 U.S. companies, African partners, other donors, and the private sector to harness the technology, ingenuity, and political will necessary to bring the benefits of modern energy to even remote parts of Africa while promoting economic growth. The initiative will also expand beyond its initial focus on solar lanterns and renewable energy to support more on-grid power projects in natural gas and other sources.
You can download the report here.