Powering Africa initiative gathers momentum - CNBC Africa

Powering Africa initiative gathers momentum

Special Report

by Trust Matsilele 0

Powering Africa initiative gathers momentum with another private sector-government summit scheduled for U.S next January. PHOTOS: Eskom

The summit is scheduled for January 28-30th 2015, with commitments from 12 African Countries and is being organised by the EnergyNet.

(READ MOREUS working to power Africa’s electricity goals)

The summit will be attended by ministers and officials from utilities and regulatory bodies from Africa to meet with US private and public sector stakeholders at the Powering Africa: Summit where they will continue the crucial conversation on how to maintain the momentum behind building up Africa’s power sector

Over the last 20 years EnergyNet has co-ordinated investor meetings with some of the most reliable and successful power developers operating on the continent of Africa. 

Symbion Power, GE, Siemens, Copperbelt, Goldwind, Azura Power, Aldwych, Karpowership, Globeleq, Schneider Electric, ESBi, Transcorp, Chint, China State Grid, Hanergy are some of the companies that have made long term commitments to the sector and invested in sustainable solutions.

“Despite all this interest, knowledge and experience, billions of dollars has been spent on development over the last 20 years and many projects have not reached financial closure,” said the organisation. 

The summit will seek to respond to questions how investors can take greater responsibility for the success and speed of the development of long standing projects.

(READ MORE: Obama plan to "Power Africa" gets off to a dim start)

“Ultimately, African governments and the public sector are the ‘power in Africa’ and it is their responsibility to build power stations and distribute power for the people,” added the statement.

According to EnergyNet, electrification could lead to increased wealth for all, but equally importantly it could lead to increased stability in order to promote further private sector investment, creating more jobs and even more wealth.

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