High-Level African Energy Summit Convenes in Washington D.C. to Drive Capital Flows and Energy Transition
Distinguished ministers and government officials from Nigeria, including H.E. Honourable Adebayo Adelabu, Minister of Power; H.E. Honourable Dr. Dele Alake, Minister of Solid Minerals Development; and H.E. Honourable Obongemem Ekperikpe Ekpo, Minister of State for Gas, will gather alongside counterparts from Egypt, Ethiopia, Sudan, Zimbabwe, Malawi, Senegal, Eswatini, Djibouti, and São Tomé & Príncipe, along with sponsors, African utilities organizations, regulators, and Development Finance Institutions (DFIs) on March 5-6 at The Mayflower Hotel.
The summit, themed “Capital Flows Underpinning the Energy Transition,” will draw government stakeholders, institutional investors, private financiers, and service and technology providers from across the U.S. to address Africa’s energy challenges and explore new investment opportunities.
Key discussions will focus on lowering Africa’s cost of debt, resolving the Sovereign Guarantee Impasse, and shaping a more suitable finance roadmap for the future.
Power Africa, a leading sponsor and co-host of PAS24, will facilitate collaborative discussions. With over $575 million allocated to strategic investments in the energy sector and total investments surpassing $25 billion, Power Africa has played a pivotal role in generating more than 14,000MW of power on the continent since its inception.
“PAS24 presents an invaluable opportunity to strengthen ties with both public and private sectors. Since 2013, Power Africa has partnered with 12 U.S. government agencies and over 200 public and private sector entities to alleviate energy poverty in sub-Saharan Africa, bringing new or improved electricity services to nearly 200 million people in the region,” remarked Chris Foley, Deputy Coordinator of Power Africa.
Foley emphasized the need for innovative financing models to address the substantial $200 billion annual funding gap required for African countries to achieve their energy-related development goals by 2030, particularly in light of the event’s theme.
Additional speakers include Abebe Selassie, Director of the African Department at the International Monetary Fund (IMF), who will deliver opening remarks at a key ministerial roundtable. Leading private sector entities such as Marathon Digital Holdings, Absa, ACWA Power, Three Cairns Group, and Sun Africa will host boardroom sessions and discussions.
“Sun Africa remains committed to shaping the future of sustainable power in Africa, and PAS24 serves as a pivotal platform for transformative discussions on energy innovation and policy across the continent,” stated Adam Cortese, CEO of Sun Africa.
Building upon the successes of 2022 initiatives like the U.S.-Africa Clean Tech Energy Network (CTEN), this year’s summit aims to foster further progress. As a PAS24 sponsor, CTEN continues to facilitate trade, business opportunities, and market analysis, with an estimated £350 million in deals anticipated within its first five years.
The summit will showcase more success stories and forge new agreements as thought leaders, investors, and decision-makers converge to advance Africa’s equitable energy transition.
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