Finance.

That is the most talked about set back for businesses especially in Africa where many of the countries are considered poor. In a bid to support clean energy projects, the USTDA (United States Trade and Development Agency) is accepting proposals across sub Sahara Africa. In case you are wondering if your country is included, Sub Sahara Africa, according to the UN, it consists of all African countries that are fully or partially located south of the Sahara. Nigeria is definitely one.

The World Bank has declared 32 of the 48 nations on the continent of Africa to be in an energy crisis. The united states has seen the need to contribute to curbing this energy crisis.
70 percent

The USTDA is an implementing agency of both the Power Africa and U.S.-Africa Clean Energy Finance (US-ACEF) initiatives. They invest in project preparation activities designed to generate renewable and gas-fired power, modernize electric grids and increase energy efficiency. The Agency’s programs are available to help African project sponsors prepare bankable clean energy projects.

The funding is not only open to companies in Sub Sahara Africa but also companies in the United states that wish to implement projects in Sub Sahara Africa.Proposals will be considered for funding under both Power Africa and US-ACEF (United States – Africa Clean Energy Finance)

Power Africa is a U.S. government-led initiative that addresses one of the most pressing challenges to sustainable economic growth and development in sub-Saharan Africa: access to electrical power. Power Africa’s goal is to add more than 30,000 megawatts (MW) of cleaner, more efficient electricity generation capacity and 60 million new home and business connections. Power Africa brings together the world’s top companies, political leaders, and financial institutions to help overcome Africa’s energy crisis

US- ACEF on the other hand is a U.S. State Department-funded program that aligns U.S. government resources to support significant private sector investments in African clean energy infrastructure. Under this program, USTDA is leveraging its project preparation expertise to support clean energy projects in sub-Saharan Africa, as well as coordinating with the U.S to oversee Private Investment Corporation to link renewable energy projects to sources of financing. Have you ever wanted to start a business in clean energy with finance being a problem, this is an opportunity to get support 

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Photo: Rachel Couch for Power Africa

Deadline for the submission of the proposals is 5:00pm on 26th September 2016. Proposals should not exceed five pages and to be sent to  PowerAfrica@ustda.gov

Goodluck!

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