World bank, others, obviously china, but the u. S. Government can have a major, major impact in this sector, supporting those countries and businesses. I can emphasize supporting the countrys own strategies is that or it that as word has to start. Figuring out a way to plug into thoses participating. And there are a number of plans that have come forward on this. So power africa in our view is a fantastic start. Fantastic start. Able to announcement, but also what can only be a start. So it is very ambitious in its scale and scope, but compared to the need, the demand, it remains a very small piece of what has happened. Abuse in their many players in the space. Everyone has a role to play. But as of the actors and participants choose to up our africa focus on the execution of the next 18 months. You heard in the city that making sure that they have some wins under their belt is absolutely usage of golf course. So while the u. S. Government and others move to execution mode to make sure that this announcement actually has real, tangible impact on the ground not just my not just the next year, but sustainability and commercial viability. Thinking about how to scale even more. This announcement is quite interesting compared to previous u. S. Government announcements. I spent a number of years in the government and been a part of some of these announcements. The transaction specific focus is really refreshing. And it has to be challenging over the medium term. Al it continues to harness and focus of the different peoples within the u. S. Government to hear he if you take a look at a pet farm. The flood threat the u. S. Government everyone knows what their targets are. Some of that is there, some of it is not. Which is going to need to be addressed as we go to scale and continue to ratchet up ambition of the medium term. That is read the electrifying act was introduced in congress a couple of weeks ago. And the one campaign, its absolutely critical. Everything that we do come over talking about the u. S. Is bipartisan. It has to have support from the right in the left because we know from painful practice over years but that is the only way that policies, programs, or whenever kind of action is going to have staying power. All indications point toward behalf of very bipartisan model done this particular issue. Hit the electrify african actors on political vehicle to drive the ford. Whoever follows, the democratic republican will also have the rope, the support was to continue the efforts. African people, businesses, what are some of the impediments to the fully harnessing the assets of the u. S. Government . And a number have already been mentioned, so i wont touch on the. Some of the things that chris just mentioned. The feasibility studies for project preparation which is a very highrisk part of the deal. A number of those kinds of things. A couple of additional pieces relate to the overseas private investment which was a modest part of the announcement from president obama and cape town and then some subsequent some subsequent remarks in tanzania. If you look et across a number of Different Reasons i will try and be quick and wrap it up. The public needs to play a significant part of any effort. Very important parts to play. There are couple of thinghat a very unique for this space. One is in terms of the financing. A match with the requirements for the medium to longterm and chairs of the financing. The Risk Mitigation is very important in the space. In addition, an austere budgets, there is no way in hell that you would say idea will be allowed to give billions of dollars out of congress and the foreseeable future to be able to support this. Frankly in many ways outside of the critic guarantees i dont think you want credit space to go baby is a nest of a commercial liability. The private sector will have to be essential if there will be sustainability. Painful practice of lessons that have come from that. There may be some cases where subsidies in the median in near term may be required, but if your talking about big scale, its not going to be your leading to a. An organization like opec is. Sitting and 15 billion of deployable capital. The upside to scale in the space is going to have to be very heavily reliant on opec. What are the constraints . One is just a small agency. Doesnt have enough teams to try some of these. Dennis to be addressed. The second thing is so was brought up before. The scale of magnitude is the city will take a makes to hit with the demand is on the content. Its going to take a makes of renewals, a mix of nonrenewable. And when there is an environment where renewals of a commercially best solution, viable and resources are there absolutely at think everyone would waste that is the preferred model of generation and then feeding into transmission. There are going to be some cases where that might not be the case. Whether its natural gas or basically calling to need to be a part of the makes. He looked at what the u. N. Says, Un Sustainable Energy for all and other actors that have opined on this from an authoritative stands to marilyn calls from makes. In this case having a opec be able to support the mix of solutions that african governments are themselves asking for in trying to pursue is important. Within that is strong emphasis on the renewable aspect, wherever possible, wherever appropriate will be really important. So whenever the type of approach to address this constraint at the end of the day i think there are many ways to do it, many ways that can be winwin. And bring all parties to the table, whether the environmental groups, businesses, there is a way to skin that cat and we hope that will be able to bring that to fruition. Thank you. Thank you. Thank you very much. Thank you to jennifer and the rest of the group for allowing me to be on the panel was such an Amazing Group of people doing inre wt i do. One of the things i want to do in answering the question of why im appear in what this us to do with energy and Climate Change, its interesting for me because i feel like while most of what we heard about the Power African Initiative so far has to do with being transactional. Its very sexy and sells electric going to do stuff. I think thats something that we see as being politically palatable for most of the big initiatives that we see glenn forward. I think what people really wonder about the initiative is is a strategic. Does it have staying power . Is something we will do for a while . I actually we were talking about this internally, i actually think there are a number of ways in which power africa makes a lot of sense, not only with what we see in terms of the energy and Climate Change rules of this of ministration, but also in terms of how they have adjusted to a changing energy landscape. What i thought i would do is maybe at some food for thought to the conversation. I cant do la these guys did. That operate in that business and that think that all of the comments were tremendously insightful. We will go back up to the 30,000 you. Why does this match with what the Obama Administration is trying to do. From my perspective are watched the of ministers in for a long time basically trying to look go world where youre trying to find places where transformative change can happen both from an Economic Perspective and a technology perspective. A lot of that is low carbon driven, but it is not on pragmatic. So when you see what the Obama Administration announced within their own Climate Change strategy you see a world in which they definitely believe in trying. But there are also aware of the fact that there is a lot of conventional oil and Gas Resources out there and hydrocarbon based resources that they need to be able to compete with. How can we look at this as being a strategy that makes sense with some intellectual underpinning that gives people some confidence that may be is a good idea for us to be spending a large amount in u. S. Dollar terms government money at a time when that is not a round to be spent and how it may leverage additional funds. A lot to touch on a few key issues. Why he robbed banks . Thats where the money is. You look at the big global issues up there to be tackled, Power Generation issues, this may be a time where things are different. There is an exuberance out there in terms of the Economic Growth to your starting to see in different parts of africa. I dont fundamentally think that a transaction based approach purses Regulatory Reform approach, we oscillate between those throughout the history of u. S. Development, but that is not to mean that one is right and what is wrong. We never tried it this way before in 2013 during this time in africas development cycle. Theyre is a lot of hope that you can potentially be predicated. Of the billion people are around the world that dont have access to electricity, 47 percent are in africa. If he lifted most of the literature, its in a small number of countries within africa. Youre actually seeing a good deal of progress in terms of connecting more people to modern electricity to more resources, but a lot of that even though there is an aggregate terms progress being made, lot of that is not actually happening in africa. So if youre going to pick a problem to put a show libya and then pushed, this isnt a bad one. The other things that is often a criticism of the strategy which are potentially be the brilliance behind it in for a will to do it is 7 billion, 9 billion, does not a lot of money. You know what is to make 16 trillion. As the amount of money that will go into the Energy Sector for the electrical Power Supply Services side between l and 2030 according to a normal reference case you. The one thing that is not determined inside those stellar figures is how much of that comes from Different Companies or governments, of the money gets spent, how does divided. The point is that there is a lot of money out there in the Energy Sector. And you start to look at where the competition for who will be spending that money is broken down, all lot of that money will get spent in rapidly emerging developing economies in developing economies. The question is how they use spend small amounts of money which in the Power African Initiative is a comparison between the 7 billion youre putting on the table to the 300 billion that might eventually be needed to achieve universal access within the region. How they use the combination of the private sector and the Public Sector within the u. S. Perspective. Remarks for u. S. Companies have a competitive advantage. People were talking abut tully partner with other places by the African Development bank or china or other countries with specific interests in getting a foothold in those markets, instead of thinking about it as a small amount of mind that doesnt really match up to the need, think about it in terms of what you would do and what u. S. Companies would do to try and get a foothold in some of those emerging markets and how you make that possible. At think thats actually a real exciting part of the initiative. The other thing is its not necessarily bad. Theres a lot of subtexts here about this Power African Initiative because is derived from the Obama Administration only means that it can be clean energy based because the obama of masters and cares what jury something about Climate Change and they basically said they dont want to finance a coalfired Power Generation units in countries other than the recent developed countries and only when there is not an economic disadvantage subduing an alternative. Well, the intellectual underpinning actually looks at the vast majority of the places where you might spend that money being of application. All of those remote and rural applications paper places where maybe the alternative technologies a more competitive. Think thats the case that has to be proven in progress on the ground. A lot of people say that but it is to be proven in practice. You actually have to go and do that. If you look at the basic assumptions behind what it would take to achieve universal of education and around the world and not only in africa. Youre reducing the Sustainable Energy for all initiative. Basically is less than a 1 increase from where we would be in 2030. The presumption is that that case of a lot of this coming from Energy Sources is actually proven to be true. I think that the really important part about that may be giving this initiative staying power as if a going to do something about Climate Change a going to have to prove those cases. Thats not here. Thats a lot of other places around the world. Rather than looking at that as being an ideologically driven exercise is to be like that as a way of trying to categorize some of this new innovation. The last month was going to make , taking advantage of Energy Resources and is shifting energy landscape, one of the least mentioned within development circles if its a lot of attention tomorrow a places pay use appropriately, develop the electricity infrastructure within those countries and then places were new signs of been discovered, especially natural gas and figuring out ways to use that as a catalytic effort for development within those countries. Act fast. Theres a lot of gas out there. Think that one of the really important things to do is to make sure you keep some of these development prospects, especially within the oil and gas side in context. The oil and gas to landscape is changing dramatically. The Competitive Landscape is changing. Getting that makes between what governments can require of companies to of the bill that that infrastructure and utilize resources now is not the same conversation as it has always been. Its a Competitive Landscape. Talking more about that, but does well one of the sec. Great. Thank you. Again, lots of food for thought and a lot of different perspectives on that. I think we have about 35 minutes for questions and answers. We will take rounds of questions once again and again with the gentleman here. If you could wait for the white can identify yourselves. Yes. I teach government at georgetown. Im going to ask a question that i was going to ask earlier which is, where is the 7 billion coming from . And is it likely to detract from other programs such as humanitarian perrins in africa . I can add to that or perhaps been. Let me ask sarah. The fact is half but my question is, if i get in a right, mentioned that compared to china and other actors the u. S. Tends to add to little late. Im wondering, could you tell me from a business perspective, d. C. But competition from china . This is gene a car with national electric. I was wondering, let us know. If there is interesting portfolio projects that these countries have identified. Work has been done that they know what they need. Thank you. Here with the strategy and advisers. With a couple of exceptions like here from the panel is unbridled optimism about this initiative. Did you have any doubt or fears about unintended consequences of failure . Not yet. Why dont we go down the panel. If you want a pass just say so. Tackle the question. Okay. Good. Says ten power plants, the july 19th deadline, existing plants, some of which have been updated. Government policies privatized. Companies consortiums are looking for u. S. Partners. Thats the only situation where i know something immediate coming up. Imagine there are other opportunities in other countries also. Thank you. Tackle the ones youve seen. I think just a response to your question, my understanding is that the power africa team, theyre focused on a number of projects that theyre trying to push forward. I would expect that things are as transparent as possible. There is certainly an andre there to say to my where the guns are talking to . Everybody if youre looking at financing your going to need to source a lot of materials. Those opportunities. The two questions that were directed toward me, competition from china to my dulces competition. We obviously compete with Chinese Companies and have. In fact we submitted a bid today for contract. Im sure the chinese contractors north. What we are more expensive at the end of the date and will we also tend to use equipment which is more reliable. Have to pay for that. Overall dulces competition. The Chinese Companies and a Chinese Government is to Amazing Things. There is some much work to be done to that it is not really a matter of competition. The fact is, you know, we have cali to the game away because as everybody knows, the Development Projects and the Infrastructure Projects in africa have been an element of chinese foreignpolicy. They have been able to provide very low interest loans to get this stuff done by chinese contractors. We just dont have that system, so we are more expensive. Its harder. Its just a different kind of approach to doing development in africa. Overall would not college competition. Theres so much work to be done that there is certainly an opportunity for partnerships. Everybody can pull off a piece. I give you an example. In tanzania right now the chinese are constructing a gas pipeline. Well, everybody who owns a power plan is looking forward to that because it will be more gas to really dont have to run them off of jet fuel. That is an elements they have not necessarily cooperation but shared infrastructure that everyone will benefit from. Doubts are fears about unintended consequences are failures, absolutely not. [laughter] of course. Yap. In an airboat familiar with this from our careers in