Israel and the US are scheduled to sign a memorandum of understanding next week that will see Israel join the Power Africa initiative, an international program led by the US that aims to connect 60 million households in Africa to the electricity grid by 2030.
Being part of the program will enable Israeli energy firms, including startups, to make use of the tools provided by Power Africa to promote electricity generation projects on the continent, and could lead “to billions of dollars of deal-flow for Israeli firms,” according to Israeli solar energy pioneer Yosef Abramowitz, whose firm, Energiya Global Capital is one of the founding partners of Power Africa. Energiya is already working with the US and Israeli government to deploy $2 billion in solar and wind installations in 10 countries in Africa over the next five years.
Following the agreement, Israeli companies will be able to take part in the Power …