The World Bank Group has committed $5 billion for energy projects in six African countries as part of US President Barack Obama’s Power Africa initiative.
The six beneficiary countries – Ethiopia, Ghana, Kenya, Liberia, Nigeria, and Tanzania – will receive support in the way of direct financing, investment guarantees and advisory services.
“We think that the U.S. Power Africa initiative will play an extremely important role in achieving the goal of providing electricity for Africa,” said World Bank Group President, Dr. Jim Yong Kim.
“The U.S. Government and the World Bank Group are working now on specific tasks and milestones which could help to achieve one quarter of Power Africa’s goal of generating 10,000 megawatts of new power in Sub Saharan Africa.”
Africa has some of the world’s most significant hydropower, geothermal, wind and solar potential, as well as oil and natural gas reserves; yet 600 million Africans have no access to electricity – one in three people. The lack of reliable electricity also impacts on 10 million small and medium-sized businesses.
In addition to building the plants to take advantage of these resources, regional cooperation is required to build the electricity transmission network
“We are working with African leaders and their development partners to create power pools in Africa’s East, West, Central, and Southern sub-regions,” said the World Bank’s Vice President for Africa, Makhtar Diop
“Those countries with abundant geothermal, gas, hydro, solar, and wind resources can feed their excess power supply into a common pool, while neighboring states with less energy and generation capacity can benefit from this integrated approach to delivering electricity to their people”.
Solar power is already making a positive impact in Africa. For example, in Mauritania, solar now provides 30 percent of the capital city’s (Nouakchott’s) needs; a level that should reach 50% in the next few years. A 30-MW wind farm is also in the pipeline that will bring Mauritania’s renewable energy share to 45% of the country’s total energy demand; including hydro.
Even on a micro scale, solar is changing lives in Africa; with millions benefiting from affordable solar lights.
Earlier this year, the European Commission announced 16 energy projects that will receive more than AUD $139 million in funding to help bring clean power to rural Africa.
