A New Era for US-Africa Energy Cooperation

By Shingirai Vambe

The 10th annual Powering Africa Summit is set to take place under the theme “The Future of the US & Africa Energy Partnership.” This summit comes at a critical time, as Africa continues to grapple with energy poverty, with 600 million people still lacking access to modern energy services. The African Union’s Agenda 2063 has identified energy as a key driver of economic development and integration, and the continent has set ambitious targets to increase the share of renewable energy in its energy mix ².

Against this backdrop, the Powering Africa Summit aims to bring together African countries, U.S.-based investors, and private sector players to drive energy development across the continent. U.S. Secretary of Energy Chris Wright will deliver a keynote address, highlighting the importance of the U.S.-Africa energy partnership and the need to advance innovation and remove barriers to energy access.

The summit will also feature a significant Ministerial contingent from Africa, with speakers from 20 countries confirmed. These leaders will collaborate with institutional investors, private financiers, and service and technology providers to discuss key issues such as derisking projects, regulatory reforms, and the role of hydrogen in North Africa.

One of the key initiatives that will be discussed at the summit is the Mission 300 initiative, which aims to provide electricity access to 300 million people in sub-Saharan Africa by 2030. This initiative is critical to achieving the African Union’s goal of universal access to electricity by 2030.

The summit will also explore new areas of opportunity, such as bitcoin mining and data centers, through an East African lens. This is particularly relevant, given the growing demand for digital infrastructure in Africa.

Private sector players, including Sun Africa, Alliant Insurance Services, and Schneider Electric, will also play a critical role in the summit. Sun Africa CEO, Adam Cortese, noted that the company remains committed to harnessing Africa’s immense energy resources through innovative structures, state-of-the-art technology, and strong alliances.

The African Continental Free Trade Area (AfCFTA) policy is also expected to play a key role in promoting the renewable energy sector in Africa. By creating a single, unified market, AfCFTA is expected to increase trade and investment in renewable energy technologies, driving growth and development across the continent.

The Powering Africa Summit is a critical platform for driving energy development in Africa. By bringing together key stakeholders from across the continent and the United States, the summit aims to advance innovation, remove barriers to energy access, and promote the development of renewable energy technologies. As Africa continues to grapple with energy poverty, initiatives like the Mission 300 initiative and the AfCFTA policy will be critical to achieving universal access to electricity and driving growth and development across the continent.