2 years ago President Barack Obama introduced one of the
most enthusiastic development initiatives of his presidency:
Power Africa, which intends to increase access to electrical energy
on the continent.
Although many of us take for granted the ability to turn on
a light switch, refrigerate food or charge a cell phone, some
600 million people in sub-Saharan Africa roughly 2
thirds of the population live without such comforts.
This infrastructure deficit imposes extreme constraints on
basically every aspect of life, from health care to
education, to farming and company activity.
At a time when the developing world is revealing a lot
possible to participate as well as lead in the global economy,
this lack of electricity limitations economic development and total
development. Power Africa, a partnership amongst more than 100
personal sector and public partners, including African
governments, is assisting to alter that. The effort has
produced $20 billion in private sector commitments so far.
My group, the Overseas Private Investment Corp. (OPIC),.
which has a long history of supporting major infrastructure.
projects throughout the establishing world and of partnering with.
the personal sector, is playing a crucial function. Were happyEnjoyed to.
report weve exceeded our initial $1.5 billion dedication.
to the initiative, two years ahead of schedule. To this day, OPIC.
has approved $1.6 billion in finance and insurance dedications.
to Power Africa, which will support the installation of about.
1,500 megawatts of brand-new power capability. The projects weve.
supported consist of the building of a gas turbine power plant.
Ghana, a wind power plant in Kenya and a heavy fuel oil.
plant in Senegal.
This commitment represents both a major milestone in addition to.
simply a little fraction of the work that requires to be done.
Bringing electrical energy to Africas rapidly growing.
population will need a continual effort. Heres.
what weve found out so far.
We needhave to use all of Africas.
resources. The list of authorized Power Africa jobs.
checks out a little like a shopping list of the best ways to use the.
worlds energy resources and thats the manner in which.
it ought to be. Most of Africa is extremely warm, has strong winds in.
many regions and boasts generous reserves of oil, gas and.
geothermal steam. When considering how we bring electrical energy to.
hundreds of countless people who have none, we need to.
think about all of the above, in regards to not just the types of.
power we produce but likewise the method we produce it.