POWER AFRICA OVERVIEW

The initiative seeks to achieve this goal by investing in cleaner and more reliable power generation, with a target of 30,000 megawatts of new power generation capacity. This would result in 60 million new electricity connections for homes and businesses across the continent. The partnership model employed by Power Africa is unique in that it brings together public and private sector entities to achieve common goals and leverage resources. This approach connects investors and entrepreneurs to opportunities in Africa, facilitating the advancement of power generation transactions, working beyond the grid, and providing on-the-ground support. Power Africa also bridges the financing gap and encourages African-led reform, with a focus on empowering and powering women. The initiative has made significant progress in 2022, with the addition of 978 megawatts of new electricity to the grid from 13 projects. These projects have the potential to power communities across the continent, with 74% of the new capacity coming from renewable sources. Power Africa also mobilized $234 million in investment and advisory support to help off-grid solar companies gain access to finance and secure capital for growth. In addition to these achievements, Power Africa launched the U.S.-Africa Clean Tech Energy Network to increase energy access via technology investment and deals of up to $350 million over five years. The initiative also celebrated the commissioning of 280 megawatts at two Power Africa-supported wind farms in South Africa and advanced South Africa's Just Energy Transition Program by training 64 municipal leaders, including 34 women, in energy leadership and economic decarbonization. Power Africa's efforts have resulted in significant benefits for communities across sub-Saharan Africa. The initiative delivered first-time and improved electricity access to 37.7 million people through 7.6 million new on- and off-grid connections to homes and businesses. Power Africa also spurred regional electricity trade via a 200-megawatt cross-border agreement between Ethiopia and Kenya and a new transmission line connecting Rwanda and Uganda. Furthermore, the initiative avoided 7.7 million tons of CO2 emissions, equivalent to burning 8.5 billion pounds of coal.