• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 6 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days How Far Have We Really Gotten With Alternative Energy
  • 4 hours The United States produced more crude oil than any nation, at any time.
  • 8 hours China deletes leaked stats showing plunging birth rate for 2023
  • 5 days Bad news for e-cars keeps coming
  • 10 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

More Info

Premium Content

GE to ‘Power Africa’, Without the Risk

GE to ‘Power Africa’, Without the Risk

Last weekend, US President Barack Obama unveiled his “power Africa” plan that aims to double access to power in sub-Saharan Africa through $7 billion in US government investment—and General Electric (GE) is the key partner here.

The $7 billion will ostensibly bring 10,000 megawatts of electricity to the region, providing a “lifeline for families to meet their most basic needs,” according to Obama, and plugging Africa into the global economy.”

Reportedly, private companies have already pledged over $9 billion in investment for Obama’s plans to power sub-Saharan Africa, with GE leading the pack.

Specifically, GE has committed to bringing 5,000MW of new power online in Tanzania and Ghana—and we’re beyond the planning stage here.

Related article: Iran and Sudan Begin to Execute Moves to Dominate Central & Western Africa

The government of Ghana has already signed a memorandum of understanding with GE for the construction of a 1,000MW power plant that would probably be fueled natural gas from the offshore Jubilee field operated by Anadarko Petroleum (APC).  

The deal with Ghana is only tentative because everything in Ghana right now is tentative, as the country waits on tenterhooks to see whether the Supreme Court will rule to uphold the last presidential election results.

Why this is all great for GE is because the US government is de-risking this massive investment, especially at a time when it’s extremely difficult for US energy companies to compete with their more prolific Chinese counterparts who are all over Africa.

ADVERTISEMENT

By. Charles Kennedy of Oilprice.com


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Bill Branham on July 09 2013 said:
    "Last weekend, US President Barack Obama unveiled his “power Africa” plan that aims to double access to power in sub-Saharan Africa through $7 billion in US government investment—and General Electric (GE) is the key partner here."

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News