The Chief Executive Officer of the Millennium Challenge Corporation (MCC),Daniel Yohannes, has informed that the Power Africa, an initiative to improve reliable access to electricity for millions of Africans, has been investing in a range of energy projects that partners hope will boost economic growth in African nations.
He said the United States had so far committed more than $7 billion in financial support and loan guarantees to Power Africa through 2018.
He said the initiative became imperative given that reliable electricity allows businesses to operate productively and generate jobs.
He said access to electricity was also essential to support vital community services such as hospitals, health clinics and schools.
“By powering Africa, we are doing more than providing light. We are providing hope and promising futures,” he said.
Power Africa, announced by President Obama in June 2013, initially involves six African countries, including Ethiopia, Ghana, Kenya, Liberia, Nigeria and Tanzania, with the goal of adding more than 10,000 mw of clean, efficient electricity generation capacity.
Officials say that Power Africa would bridge the gap between Africa’s power shortage and its economic potential by working with partners to help countries responsibly unlock the region’s substantial wind, solar, hydropower, natural gas and geothermal resources, build power generation and transmission facilities and expand the reach of mini-grid and off-grid solutions.
“Some of Power Africa’s notable investments so far include the Aeolus Kenya wind project, one of the largest wind power generation projects to be built in sub-Saharan Africa. Kenya’s government, project funders and Aeolus Kenya Ltd. are finalizing agreements to fund the building of the Kinangop Wind Park.
“Power Africa’s role is to support the implementation of a grid management program. The 60-megawatt wind farm will generate enough renewable electricity to power the equivalent of 150,000 homes in the country, according to General Electric, the company that will supply the project’s wind turbines.”
He said so far, the Ethiopian Electric Power Corporation (EEPC) and Reykjavik Geothermal had agreed to establish the Corbetti Geothermal Power Plant, a 1,000-mw venture, the first independent power project in Ethiopia’s history, assuring that Power Africa would provide technical advice to move the project forward.
“In Tanzania’s agricultural corridor, Power Africa approved a loan guarantee for the Kiwira River Hydro Project. This guarantee will facilitate local finance for the 10-megawatt minigrid project.”
