For Immediate Release
Press Release
MIAMI, FL - Power Africa is excited to announce the on-boarding of its new private-sector partner, Sun Africa, at a special signing event held on Tuesday, August 6, 2024 at the offices of Sun Africa, located at 801 Brickell Avenue, Suite 1400, Miami, FL.
Power Africa Coordinator Richard Nelson, alongside Sun Africa CEO Adam Cortese, formalized this partnership through a non-binding collaborative agreement. This partnership marks a significant step in advancing Power Africa’s mission to increase access to reliable electricity across sub-Saharan Africa.
As part of its collaboration with Power Africa, Sun Africa aims to contribute to the initiative’s goal of adding at least 30,000 megawatts (MW) of reliable electricity generation capacity and 60 million new connections by 2030. Sun Africa’s commitment includes plans to add up to 6,500 MW of new energy generation, potentially providing electricity to over eight million households and businesses. The company anticipates securing approximately $10 billion in financing to support these projects.
One of these is a two-phase ground-breaking project in Angola. The first phase of the project, backed by a $900 million U.S. EXIM Bank loan will deliver approximately 500 MW of utility-scale solar PV along with battery storage. The second phase, backed by a $1.2 billion U.S. EXIM Bank loan will deliver an additional 287 MW via 65 mini-grids, hundreds of solar cabins, thousands of home solar kits, and hundreds of solar-powered water purification and supply systems.
This significant undertaking is being co-financed by Power Africa’s development partner, the Republic of Korea, and is designed to promote the export of U.S. solar panel mounting systems, connectors, switches, sensors, and other essential equipment. The collaboration underscores the shared commitment of Sun Africa and Power Africa to advancing sustainable and reliable energy solutions across Africa.
Sun Africa CEO, Adam Cortese said: “We are very pleased to increase our engagement with Power Africa. By leveraging Power Africa’s extensive network alongside Sun Africa’s expertise in utility-scale solar energy projects, this newly minted partnership seeks to accelerate the pace of renewable energy adoption in Africa, and in turn, help to significantly close the energy gap in the countries in which we work.”
Congratulating Sun Africa on their commitment, Power Africa Coordinator, Richard Nelson, noted: “This deal is a significant milestone in Africa’s journey toward universal energy access. Power Africa is excited to work with Sun Africa, a U.S. company, and its network of U.S. component suppliers, in developing projects that will demonstrate the effectiveness of large-scale on-grid solar in Africa’s energy future. ”
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Power Africa is a U.S. government-led initiative aimed at doubling access to electricity in sub-Saharan Africa by harnessing the resources of public and private sectors. To know more, visit our website and follow us on LinkedIn.
Sun Africa is a U.S.-based international renewable energy and infrastructure developer focused on providing sustainable and economically viable energy solutions across Africa. To know more, visit our website and follow us on LinkedIn.
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