Washington, D.C. is poised to become the epicenter for Africa’s energy transformation as it prepares to host the 9th Powering Africa Summit .
The high level event set to begin on Tuesday, March 5 to Wednesday, March 6, will bring together distinguished ministers, government representatives, investors, and stakeholders from over 15 African countries.
The prestigious event is set to take place at The Mayflower Hotel, Washington, D.C. The event will focus on the theme “Capital Flows Underpinning the Energy Transition,”
The event comes at a time when PAS24 aims to address Africa’s energy challenges and explore new investment opportunities.
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Distinguished Summit Attendees
High-profile representatives from Nigeria, including H.E. Adebayo Adelabu, Minister of Power; H.E. Honourable Dr. Dele Alake, Minister of Solid Minerals Development; and Honourable Obongemem Ekperikpe Ekpo, Minister of State for Gas, will be in attendance.
At the same time, they will be joined by counterparts from Egypt, Ethiopia, Sudan, Zimbabwe, Malawi and Senegal.
Likewise, from Eswatini, Djibouti, and São Tomé & Príncipe, along with sponsors, African utilities organizations, regulators, and Development Finance Institutions (DFIs)
The summit aims to tackle Africa’s energy challenges and explore new investment opportunities. This aims will be done through facilitating discussions between government stakeholders, institutional investors and private financiers. More so, through technology providers from the U.S. and Africa.
Washington, D.C summit will have Key topics on the agenda. They include lowering Africa’s cost of debt and addressing the Sovereign Guarantee Impasse. Furthermore , they will also look at devising a future finance roadmap for Africa.
Power Africa’s Role
Power Africa is a co-host and sponsor of PAS24. It has played a significant role in driving collaborative discussions and strategic investments in the energy sector. It allocated over $575 million since its inception. This resulted in investments exceeding $25 billion and generating more than 14,000MW of power on the continent.
Chris Foley, Deputy Coordinator of Power Africa, has emphasized the need for innovative financing models to bridge the gap in funding required to achieve Africa’s energy-related development goals. With over 590 million people in sub-Saharan Africa lacking access to electricity, exploring innovative financing mechanisms becomes paramount.
“PAS24 will provide our organization with the chance to expand our connections with both public and private sectors. Since 2013, we have harnessed the collective resources of 12 U.S. government agencies and over 200 public and private sector partners to end energy poverty in sub-Saharan Africa, helping to deliver new or improved electricity services to nearly 200 million people across that region,” Power Africa Deputy Coordinator Chris Foley said.
On the other hand, the summit will feature speakers from various sectors. They include Abebe Selassie, Director of the African Department at the International Monetary Fund (IMF). The speaker’s will deliver opening remarks at a key ministerial roundtable.
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Accelerating Africa’s Just Energy Transition in Washington, D.C.
Additionally, representatives from private sector entities such as Marathon Digital Holdings, Absa, ACWA Power, Three Cairns Group, and Sun Africa will host boardroom sessions and discussions. The sessions will contribute to the dialogue on energy innovation and policy in Africa.
Likewise, Sun Africa’s CEO, Adam Cortese, has highlighted the summit’s significance as a catalyst for transformative discussions on sustainable power in Africa.
“Sun Africa is dedicated to shaping the future of sustainable power in Africa, and PAS24 will be an important catalyst for transformative discussions on energy innovation and policy on the continent,” added Sun Africa’s CEO, Adam Cortese.
Moreover, the summit will build on the success of initiatives like the U.S.-Africa Clean Tech Energy Network (CTEN). More so, now as PAS24 sponsor, which has facilitated around £350 million in deals within its first five years. It has fosterd a conducive ecosystem for cleantech companies and researchers.
As the world converges in Washington D.C. for PAS24, the summit aims to accelerate Africa’s just energy transition. The Summit aims to foster collaboration among thought leaders, investors, and decision-makers.
Washington, D.C.forum presents a unique opportunity to chart a course towards a more sustainable and inclusive energy future for the continent.