$1 Billion Pledged for Clean Energy Projects at Power Africa Diaspora Forum Hosted by American Association of Blacks in Energy

September 12, 2014

 

FOR IMMEDIATE RELEASE – MEDIA ANNOUNCEMENT

 

$1 Billion Pledged for Clean Energy Projects at Power Africa Diaspora Forum

Hosted by American Association of Blacks in Energy

           

(WASHINGTON, DC - September 12, 2014) – Green energy projects in Africa are getting a boost with a $1 billion infrastructure investment commitment pledge announced in a joint partnership agreement, between the American Association Blacks in Energy (AABE) and Washington, DC, financier Harley Stanfield Global, to benefit Ethiopia, Nigeria and Uganda for viable and vetted projects. Upon due diligence, funds from Harley Stanfield Global will be available to support African countries village lighting projects and the Power Africa Initiative.

The backdrop for the surprise commitment was made during the half-day business session hosted by AABE during its Power Africa Diaspora Forum in Washington, DC, Aug 4. The event was held in support of President Barack Obama’s African Leaders Summit, where 45 African leaders met to discuss critical energy needs, sustainability and technology infrastructure between the U.S. and Africa. The goal of the monumental initiative is to provide access to energy for 60 million people and facilitate the installation of 30,000 MW of power, utilizing over $20 billion in public and private sector financing for African energy projects.

The American Association of Blacks in Energy hosted a capacity crowd of more than 120 attendees, who witnessed the powerful collaboration between world leaders during the AABE summit, to include the Honorable Irene Muloni, Minister of Energy for Uganda, Honorable Gabriel Nguema Obiang Lima,Minister of Energy, Industry & Mines for Equatorial Guinea and Senior Advisor to the Minister of Power of Nigeria for Renewable Energy, speaker Azeb Asnake, CEO of the Ethiopian Electric Power Company, Representatives Robert Powell, PhD Professor of Architectural Engineering, Laura E. Asiala, Sr. Director, Client Relations & Public AffairsatPyxera Global, Robert Powell, PhD Professor of Architectural EngineeringNorth Carolina A&T, Sabrina Campbell, Director of Federal Affairs of American Electric Power (AEP) and Hilda Pinnix-Ragland, VP for Corporate Public Affairs for Duke Energy and other notable panel members.

“The spontaneous announcement was certainly a drop the microphone moment,” said Paula Jackson, President & CEO of the American Association of Blacks in Energy. “We value our entrepreneurs and believe that these donations will go a long way in galvanizing others to support the Power Africa Initiative.”

“The opportunity to help build a strong infrastructure in Africa is an ideal project for our company to fund thereby making a major impact Ethiopia, Nigeria and Uganda,” said Dr. Cedric Franklin, President and CEO of investment banking firm Harley Stanfield Global.  “This is a great fit for our company,” said Franklin.

AABE and Harley Stanfield are in the process of developing an agreement to develop the plan for receiving and processing proposals as well as the terms, conditions and leverage financing.

          In another major announcement at the event Aug. 4, Jackson also signed a Memorandum Of Understanding on behalf of AABE, with Jeannine Scott, President & CEO of the U.S. Angola Chamber of Commerce. The collaboration is designed to facilitate productive energy focused trade missions in to support the $16 billion power projects with the Angolan government.

         The AABE Institute coordinated the historic Power Africa Diaspora Forum under the direction of Sam Smoots, Executive Director, AABE Institute. For more information on the American Assoc. of Blacks in Energy Power Africa Initiative click here

 

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Background:

The American Association of Blacks in Energy (AABE) is a national association of energy professionals founded and dedicated to ensure the input of African Americans and other minorities, into the discussions and developments of energy policies regulations, R&D technologies, and environmental issues.

 

Black Enterprise Magazine recognized Harley Stanfield Global as the top African American owned and managed “Green” investment-banking firm in the United States with over $2B in assets. Forbes and Inc. Magazine have named Harley Stanfield Global one of the fastest growing companies in the U.S. The company considers projects that require a minimum investment of $5 million in capital investment. 

 

 

PRESS CONTACT:

Alice Gordon, Skye Connect, Inc.  201-785-7593 - agordon@skyeconnect.com.

 

 

 

Contact:
Alice Gordon
agordon@skyeconnect.com

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