African Energy Stakeholders to Meet Leading International Businesses in Washington, D.C. to Discuss Investment Partnerships
Dec 13, 2017, 08:20 ET
U.S. Government agency Power Africa and EnergyNet have joined forces for a 4th year to unite African stakeholders with global leading businesses in the heart of the U.S. capital, Washington D.C.
LONDON, Dec. 13, 2017 /CNW/ - The Powering Africa: Summit will return to the Marriott Marquis Hotel in Washington D.C. from 28 February to 2nd March 2018 to discuss opportunities to develop and invest in power projects on the African continent.
(Photo: http://mma.prnewswire.com/media/619123/EnergyNet_Ed_Royce.jpg )
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 currently has investors buzzing.
In larger economies including Morocco, Nigeria and Egypt, investors are honing in on a potential avalanche of projects. When these start crossing the finish line, the lives of millions will change for the better and host governments will be healthier than ever, allowing for more investment and global partnerships to take root.
On a recent trip to South Africa, U.S. Secretary of Energy Rick Perry commented 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.
South Africa is a different opportunity. With the Government's recent announcement that all outstanding renewable IPPs will be signed immediately, the billions of dollars committed to the country are theirs to lose. However, legal issues around the 'security of contracts' is now under the spotlight more than ever. This has sent ripples across the continent for investors employing huge workforces and committing millions in development costs before projects are even closed.
To support the above points, at the conference in Washington decision-makers will double down discussions to get projects moving. The Summit will explore tools being offered by Power Africa, World Bank, IFC and other institutional investors to stabilise market conditions and provide predictability and security in the development phase of energy projects in Africa.
Left: Ed Royce, Chairman: U.S. House Foreign Affairs Committee, addresses delegates at the 3rd Powering Africa: Summit in March 2017
For further information: about this meeting: Meeting dates: 28 February - 2nd March 2018, Venue: Marriott Marquis, Washington, D.C., USA, Website: www.poweringafrica-summit.com, Contact: Amy Offord - Marketing Manager, Email: [email protected], Telephone: +44-(0)20-7384-8068
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