NORWAY-AFRICA
ENERGY SUMMIT 2015
LATTER - AKER BRYGGE, OSLO, NORWAY
8TH OF APRIL 2015
DEAR PARTICIPANT
A warm welcome to the Norway–Africa Energy Summit,
and a special welcome to the Ministerial delegations and
speakers who have travelled far to be here today.
This summit is being hosted by Norfund and the Norwegian
African Business Association (NABA), in support of the vision
that partnerships enable growth.
Today’s event will examine Africa’s energy prospects and
address how Norway can be a partner in developing the social,
economic, and environmental benefits from energy resources
throughout the African continent.
in Africa will quadruple. A variety of energy sources will be
required to meet Africa’s growing business and residential
energy needs, with renewable solutions having an increasing
role. Norway is forming a strong and respected cluster of
entities focused on financing, building, and operating energy
projects. The Norwegian energy sector is ideally positioned to
assist with sustainably harnessing Africa’s various home-grown
energy resources.
Africa is home to 15% of the world’s population, but accounts
for just 3% of its energy use. Sub-Saharan Africa is currently
stifled by a big energy deficit. This is holding back both social
and economic development. Most companies rely on back-up
generators, and the vast majority of the population cannot
access electricity.
So today, let’s open up this interesting topic for discussion
and understand what the real issues are. Thank you for
coming. We at Norfund and NABA are honoured to present
today’s speakers. We hope today can shine some light on the
opportunities ahead for building an energy secure continent
together.
It is estimated that the energy sector needs more than $800
billion over the next decades to facilitate sustainable social and
economic growth. By 2040 it is predicted that energy demand
On behalf of Norfund and NABA,
Kjell Roland
Managing Director,
Norfund
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NORWAY-AFRICA ENERGY SUMMIT 2015
Eivind Fjeldstad
Managing Director,
NABA
PROGRAMME
TIME
TOPIC
11:30
Registration and networking lunch
12:00
SESSION I
Welcome
LIVE-TWEET: #NAES15
CONTACT INFO: Mr. Thomas Norman, Advisor, NABA
(+47) 97982151 // [email protected]
SPEAKER
Kristin Clemet, Chair, Norfund
Energy greeting from Africa
Børge Brende, Minister of Foreign Aﬀairs, Norway
The growth potential of the sub-Saharan
electricity sector
Adam Kendall, Principal; Leader, Electric Power & Natural Gas, Africa,
McKinsey&Co.
Keynote conversation
Including:
Energy ministers in conversation with Zeinab
Badawi, International broadcaster and Chair,
Royal Africa Society
•
Hon. Dr. Kwabena Donkor, Minister of Power, Government of Ghana
•
Hon. Christopher B Yaluma, Minister of Mines, Energy and Water
Development, Government of Zambia
Energy and development: nothing is more
important
Prof. Hans Rosling, Chairman, Gapminder Foundation
SESSION II
Norfund’s energy investments going forward
Mr. Kjell Roland, Managing Director, Norfund and Mr. Mark Davis, Investment
Director, Clean Energy
Action on the ground – presenting current
and future energy projects
Mr. Mugo Kibati, Chairman, Lake Turkana Wind Project
Mr. Elgee Perera, Director, EcoPower
Mr. Henry Aszklar, CEO, Africa Power International
Mr. Torger Lien, CEO, Agua Imara AS
Mr. Raymond Carlsen, CEO, Scatec Solar ASA
Financing clean energy projects – A panel
debate focusing on case studies, challenges
and key advice, moderated by Zeinab Badawi
Mr. Aage Elmenhorst Schaaning, Chief Financial Oﬃcer, KLP
Mr. Jarle Roth, CEO, Eksportkreditt Norge
Mr. Per Aage Jacobsen, Senior Vice President Energy Department, DNB
Ms. Wenche Nistad, CEO, GIEK
Reflections from our international partners
16:30
Mr. Akobundu Ejiasa, Managing Director of Investment funds, and lead
member of Power Africa Initiative (US) from the Overseas Private Investment
Corporation (OPIC)
Reception
3
SPEAKERS
Børge Brende
Minister of Foreign Aﬀairs, Norway
Mr. Børge Brende was appointed Minister of
Foreign Aﬀairs in October 2013 and represents
the Conservative Party. He has served as
Managing Director, and Member of the
Managing Board, in the World Economic Forum, Secretary
General of the Norwegian Red Cross and Chair of the UN
Commission on Sustainable Development. Mr. Brende holds a
BA in Economics, law and history from the from the Norwegian
University of Science and Technology.
Kristin Clemet
Managing Director, Civita, and Chair,
Norfund
Ms. Kristin Clemet is the Managing Director of
the think tank Civita. Ms. Clemet has extensive
political experience and was Minister of
Education and Research from 2001 - 2005, deputy director of
the Confederation of Norwegian Enterprise (NHO) from 1998 2001, Minister of Labour and Administration from 1989 - 1990
and a member of the Stortinget (parliament) from 1989 - 1993.
She is the chair of Norfund’s board of directors.
Zeinab Badawi
International Broadcaster and Chair,
Royal Africa Society
Ms. Zeinab Badawi is Chair of the Royal Africa
Society and a widely recognised and highly
respected international broadcaster. She has
broad experience in television and radio, having worked with
production, studio presenting and field reporting across a
range of areas. She was awarded ‘International TV Personality
of The Year’ by the Association for International Broadcasting
in 2009.
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NORWAY-AFRICA ENERGY SUMMIT 2015
Adam Kendall
Principal; Leader, Electric Power &
Natural Gas, Africa, McKinsey&Co
Mr. Adam Kendall is a Partner in McKinsey’s oﬃce
in Casablanca, Morocco. He leads McKinsey’s
Electric Power and Natural Gas Practice work in
Africa, and also does a significant amount of work in the mining
and oil & gas sectors. Prior to joining McKinsey, Mr. Kendall
worked as a short-term consultant in the Social Protection
Sector of the World Bank. He brings extensive experience
working directly with private sector and government leaders
across Africa and is one of the principle authors of Brighter
Africa: the growth potential of the sub-Saharan electricity
sector. He has a BA. in History and Political Science from the
University of North Carolina, US, and a Masters in International
Relations with focus in International Economics and African
Politics from the School of Advanced International Studies of
the Johns Hopkins University.
Hon. Dr. Kwabena Donkor
Minister of Power, Government of
Ghana
Before becoming Minister of Power, Dr. Kwabena
Donkor was the Chairman of the Parliamentary
Select Committee on Mines and Energy. He is an
MP for the Pru East Constituency. Prior to this he was Chief
Executive of BOST, the state owned oil logistics company, and
Chief Executive of the Petroleum Commission. Dr. Donkor has
lectured at several universities and holds an MSc. and PhD
degree from the University of Bristol, UK, and an MBA from the
University of Lancaster, UK. He is also a Fellow of the Chartered
Management Institute, UK, a Fellow of the Royal Society of Arts,
UK, and a Member of the Chartered Institute of Energy, UK.
Hon. Christopher B Yaluma
Minister of Mines, Energy and Water
Development, Government of Zambia
Hon. Christopher Yaluma is MP for the Malole
Constituency and Minister of Mines, Energy and
Water Development for the Republic of Zambia.
Prior to this Mr. Yaluma has had extensive experience within
the energy sector in various regional management and senior
engineering roles; working for 19 years with ESKOM and 12
years with the Zambia Electricity Supply Corporation ZESCO.
Mr. Yaluma has also utilised his knowledge of power system
management for coaching and mentoring up and coming
engineers in the energy sector. He holds a BSc in Electrical
Engineering from University of Idaho, USA.
Prof. Hans Rosling
Chairman, Gapminder Foundation
Prof. Hans Rosling is the co-founder of
Gapminder, making statistics on sustainable
global development more accessible with
pioneering approaches. He is also an award
winning lecturer and professor of International Health at the
Karolinska Institutet, the medical university in Stockholm,
Sweden. He has been an adviser regarding vaccination
and essential drugs to WHO, UNICEF and Sida, co-founded
Médecines sans Frontiers in Sweden, and is a member of the
International Group of the Swedish Academy of Science. Prof.
Rosling has also pioneered global health teaching and worked
as a doctor on the ground in Africa for many years.
Kjell Roland
Managing Director, Norfund
Mr. Kjell Roland is Managing Director of Norfund.
Before joining Norfund in 2006, Mr. Roland
spent two decades working as partner and CEO
of the consultancy firm ECON Management AS
and ECON Analysis, having co-founded ECON in 1986. As a
consultant he specialised in macroeconomics, development
economics and energy and environmental issues, working
for private companies, governments and international
organisations. Mr. Roland has edited and published extensively.
Mark Davis
Investment Director and Head of Dep.,
Clean Energy
Mr. Mark Davis is Investment Director in
Norfund, and is responsible for Norfund’s
energy portfolio. Prior to joining Norfund in
2007, he worked for eight years for Econ Analysis, a Norwegian
economics consulting firm. He has worked with energy policy,
regulation and investments in developing countries throughout
his career. He has experience from several directorships in
power companies, including SN Power. He graduated from
the University of Cape Town with a Master’s degree in Applied
Science in 1990; and subsequently completed a D.Phil in Energy
Economics at the University of Sussex.
5
Mugo Kibati
Chairman, Lake Turkana Wind Power
Project
Mr. Mugo Kibati is Chairman of the Lake
Turkana Wind Power Project, the largest
renewable energy project in Africa’s history. He
is also Group CEO of Pan Africa Insurance Holdings, and was
previously Director General of the Kenya Vision 2030 Delivery
Secretariat and CEO of East African Cables. He has worked
with Lucent Technologies in the US, Bamburi Cement (Lafarge
Coppee), and Kenya Petroleum Refineries (Shell Petroleum)
in Kenya. Mr. Kibati sits on several corporate boards and has
held top positions in the Federation of Kenya Employers, the
Kenya Association of Manufacturers and the Kenya Private
Sector Alliance. He has an undergraduate degree in Electrical
Engineering from Moi University, a Master’s in Technology
Management from MIT, and an MBA in Business Finance from
the George Washington University.
L. G. Perera
Director, Eco Power Group
Mr. L. G. (Elgee) Perera has been a Director of
the Eco Power Group from its inception. It is now
the industry leader for small scale hydro power
generation in Sri Lanka, with many projects
underway in East Africa and Asia. Mr. Perera has over 40 years’
experience from the banking sector, including as CEO of DFCC
Vardhana Bank and as a consultant to the Asian Development
Bank. He has also served as board member for a large number
of private and public entities. Mr. Perera is an Aﬃliate of the
Chartered Institute of Management Accountants, London
and has an Under Graduate degree in Economics, an MBA,
and Post Graduate qualifications in Statistics from Sri Lankan
Universities.
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NORWAY-AFRICA ENERGY SUMMIT 2015
Henry Aszklar
CEO, Africa Power International
Mr. Henry Aszklar has more than 30 years’
experience in the energy sector, including
extensive experience with power plants in
emerging markets. He consults for major
corporations and private equity funds, and was previously
President of AES Africa Power Company. Prior to working
on expanding AES in Africa, Mr. Aszklar led AES’ expansion
in Brazil, where he served on several large utilities boards of
directors. He holds a BSc. in Aerospace Engineering from the
United States Naval Academy, and a MSc. in Management from
the MIT.
Torger Lien
CEO, Agua Imara
Mr. Torger Lien is the current CEO of Agua Imara
AS, and CEO of SN Power Invest AS. He has a long
history of experience from the energy sector
and held several positions in Norwegian Hydro
- within Oil & Gas, Aluminium, and Hydro Energy. Mr. Lien has
been the CEO of Norwegian Oil Trading AS and Pemco AS, and
was President and CEO of Nord Pool ASA before joining Fred.
Olsen in 2009. Torger holds an MSc. in mechanical engineering
from the Norwegian Institute of Technology in Trondheim
(NTNU).
Jarle Roth
CEO, Eksportkreditt Norway
Mr. Jarle Roth is the CEO of Eksportkreditt
Norway. He was previously the Deputy CEO of
Umoe, and prior to this was CEO of Unitor ASA
and Umoe Schat-Hhasarding Group. Mr. Roth
is Chairman of Norwegian Skog ASA and Deputy Chairman of
Ekornes ASA, and previously held a number of directorships
related to maritime companies.
Raymond Carlsen
CEO, Scatec Solar
Mr. Raymond Carlsen joined Scatec Solar
in 2009 and is the current CEO. Before this
Mr. Carlsen was a Partner at Aker ASA where
held various other management positions within
the Aker Group and former Kvaerner ASA, including member
of the Aker Solutions ASA Executive Management Team, and
head of Aker Solutions’ Subsea division. Mr. Carlsen has
extensive international experience through assignments in
USA, Singapore, Indonesia, Malaysia and South Africa and is
a Director on a number of Boards. He has an MSc. from the
Florida Institute of Technology, USA.
Aage Elmenhorst Schaanning
Chief Financial Oﬃcer, KLP
Mr. Aage Elmenhorst Schaanning is currently
Chief Financial Oﬃcer with KLP, and was
previously Investment Director at KLP Asset
Management. Prior to joining KLP in 2001 he
worked with borrowing, balance sheet management and
administration in BN Bank and Kredittkassen. Mr. Schaanning
has an MBA from the University of Colorado, USA and is an
authorised financial analyst.
Wenche Nistad
CEO, GIEK
Ms. Wenche Nistad has been CEO of GIEK
since 2005, and Chairman of the Board of GIEK
Kredittforsikring since 2011. She was formerly
the CEO of Hadeland Glassverk AS, President
and CEO of Luxo ASA. Ms. Nistad has also been Director of
the Bergen DNB Bank, and a member of the DNV GL Council,
including the Nomination Committee since 2012. She has an
MA in Business Administration from NHH in Bergen, and an
MBA in Energy Market Challenges.
Akobundu Ejiasa
Lead member of US’ Power Africa
Initiative, and Managing Director of
Investment funds, Overseas Private
Investment Corporation (OPIC)
Mr. Akobundu (Chinesom) Ejiasa is Managing
Director of Investment funds at OPIC and lead member of US’
Power Africa Initiative. Before this he was an Investment Funds
Oﬃcer, and prior to joining OPIC worked in asset and mortgage
backed securities. In addition to his position at OPIC, he is
currently an Executive Member of the Washington Latin Public
Charter School Board. Mr. Ejiasa graduated from The Colorado
College with a degree in economics. He also holds an MBA from
The Darden School of Business.
Per Aage Jacobsen
Senior Vice President, DNB Bank
Mr. Per Aage Jacobsen is the Senior Vice
President of DNB Bank ASA. He has more than
30 years commercial bank experience from
cross border project financing, and is a specialist
in oil & gas, renewable energy, ports, shipping, and structuring
and arranging of project debt. He has a wealth of experience
working with ECAs, multilaterals and other non-commercial
sources, and spent five years working in various African
countries with UNDP and Norad.
7
NORWAY-AFRICA
ENERGY SUMMIT 2015
FINANCING THE
NORWEGIAN
EXPORT INDUSTRY
• Stable source of funding
• Long-term financing
• Export financing expertise
Photo: Wayne Conradie/ Picturing Africa.
Please get in touch to discuss how we
might support your project.
www.eksportkreditt.no
8
NORWAY-AFRICA ENERGY SUMMIT 2015
GIEK offers guarantees for
Norwegian export ﬁnancing of:
Empowering
Africa
with solar energy
•
large and small contracts
•
private and public projects
Get in touch to discuss opportunities
– we can ﬁnd a way to make it happen!
Scatec Solar, the independent solar power producer, has
pioneered solar energy in Africa. Being among the first to
receive preferred bidder status in 2011, the company
developed and built the first utility scale solar power plant
to be connected to the grid under South Africa’s Renewable
Energy Program. Norway based Scatec Solar has since
completed and is operating 200 MW of solar power on the
continent. Currently we are producing electricity to cover the
demand of almost 100 000 households.
Partnering with Norfund, the Norwegian Investment Fund for Developing Countries, and
the International Finance Corporation our company is actively developing solar projects
across the African continent. Our aim is to provide affordable renewable energy to meet
the increasing demand.
www.giek.no
By contributing with much needed new electricity generation capacity, Scatec Solar
spurs local value creation through hiring and training of local work force, subcontracting
and utilizing local content.
For more information about us, see scatecsolar.com
9
JOIN NABA
NABA SERVICES
We serve as a bridge between Norwegian and
African business communities, promoting business
opportunities on the African continent in Norway
and advocating for more, better and safer business
collaboration. NABA is the only Norwegian-African
chamber of commerce.
• Network & Facilitation
• Information & Analysis
• Advisory
• Advocacy
ESTABLISHED IN 2012 BY OUR FOUNDING MEMBERS:
Confederation of Norwegian Enterprise (NHO), The Enterprise Federation of Norway (Virke), Norfund, Statoil, Yara
International, Nortura, DLA Piper, Norwegian Shipowners’ Association, Jotun AS, Astrium Services, Innovation Norway,
Aqua Unique, Belief AS, Green Energy Group, Marine Research Institute & Oslo Chamber of Commerce.
89 MEMBER COMPANIES
OPERATING IN 44 AFRICAN
COUNTRIES
SECTORS: Oil & Gas, Shipping, Renewable
Energy, ICT, Agribusiness, Industries,
Fisheries & Finance
BE A PART OF NABA
JOIN US TODAY!
www.norwegianafrican.no
10
NORWAY-AFRICA ENERGY SUMMIT 2015
The Norwegian Investment Fund for Developing Countries
Norfund was established by the Norwegian Parliament in 1997. The organisa on is the
government’s main instrument for comba ng poverty through private sector development.
Norfund’s objec ve is to contribute to sustainable commercial businesses in developing
countries.
Norfund provides equity, other risk capital, and loans to companies in selected countries
and sectors where businesses lack access to suﬃcient capital to develop and grow.
Norfund always invests jointly with partners, both Norwegian and non-Norwegian. By coinves ng with others, we leverage addi onal capital and can ensure the industrial and local
knowledge needed for each investment.
Our main investment regions are Southern and Eastern Africa, and we have oﬃces in
Nairobi, Johannesburg and Maputo. Norfund also invests in selected countries in SouthEast Asia and Central America via our regional oﬃces in Bangkok and San José.
Norfund’s investments are concentrated in three sectors: clean energy, financial services,
and agribusiness. Investments in clean energy account for more than half of Norfund’s
por olio of USD 1.7 billion. Together, the energy companies in Norfund por olio have a
total power capacity – either installed or under development – of 6,000MW.
www.norfund.no
ELECTRICITY WAS VOTED THE #1 CHALLENGE
FOR BUSINESSES OPERATING IN AFRICA.
WORLD
POPULATION
7 BILLION
AFRICAN
POPULATION
1,1
BILLION
3%
OF THE WORLD’S
ENERGY
Africa has 15% of the
world’s population,
but only 3% of its
energy.
Nearly 600 million
people without
electricity.
12 countries account
for 90% of subSaharan African energy
production.
30 countries gridconnected power
systems are smaller
than 500MW.
PREDICTIONS FOR 2040:
More than 70% of
population grid
connected.
More than 25% of
electricity to come from
renewable sources.
Fourfold increase
in total demand.
More than
$800 billion
in capital needed.
2.5 million
new jobs in the
power sector.
Source: McKinsey&Co. / Prof. Anton Eberhard, University of Cape Town
LIVE-TWEET DURING SUMMIT: #NAES15